Sax Wealth Advisors LLC Buys 1,434 Shares of JPMorgan Chase & Co. $JPM

Sax Wealth Advisors LLC lifted its stake in JPMorgan Chase & Co. (NYSE:JPM) by 7.4% during the second quarter, Holdings Channel reports. The fund owned 20,729 shares of the financial services provider’s stock after acquiring an additional 1,434 shares during the quarter. Sax Wealth Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $6,010,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in the business. BankPlus Trust Department increased its position in JPMorgan Chase & Co. by 10.8% in the 2nd quarter. BankPlus Trust Department now owns 14,627 shares of the financial services provider’s stock worth $4,241,000 after buying an additional 1,430 shares during the period. Penney Financial LLC bought a new position in JPMorgan Chase & Co. in the 2nd quarter worth approximately $202,000. Canopy Partners LLC increased its position in JPMorgan Chase & Co. by 0.9% in the 2nd quarter. Canopy Partners LLC now owns 14,738 shares of the financial services provider’s stock worth $4,273,000 after buying an additional 125 shares during the period. SGL Investment Advisors Inc. increased its position in JPMorgan Chase & Co. by 1.3% in the 2nd quarter. SGL Investment Advisors Inc. now owns 21,263 shares of the financial services provider’s stock worth $6,013,000 after buying an additional 268 shares during the period. Finally, Independent Solutions Wealth Management LLC increased its position in JPMorgan Chase & Co. by 8.6% in the 2nd quarter. Independent Solutions Wealth Management LLC now owns 9,086 shares of the financial services provider’s stock worth $2,634,000 after buying an additional 719 shares during the period. 71.55% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the company’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $297.94, for a total value of $2,830,430.00. Following the sale, the director directly owned 82,207 shares in the company, valued at $24,492,753.58. This represents a 10.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.47% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Keefe, Bruyette & Woods lifted their price target on JPMorgan Chase & Co. from $330.00 to $354.00 and gave the stock an “outperform” rating in a research report on Friday, October 10th. Truist Financial lifted their price target on JPMorgan Chase & Co. from $290.00 to $319.00 and gave the stock a “hold” rating in a research report on Tuesday, September 23rd. Bank of America lifted their price target on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the stock a “buy” rating in a research report on Wednesday, July 16th. Piper Sandler restated an “overweight” rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 15th. Finally, DZ Bank restated a “neutral” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday. Fifteen research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $319.40.

JPMorgan Chase & Co. Stock Performance

JPM opened at $305.94 on Thursday. The stock has a market cap of $841.24 billion, a PE ratio of 15.15, a P/E/G ratio of 1.94 and a beta of 1.13. The company has a current ratio of 0.86, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. JPMorgan Chase & Co. has a 1 year low of $202.16 and a 1 year high of $318.01. The stock’s 50 day simple moving average is $302.40 and its 200-day simple moving average is $277.80.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share for the quarter, beating analysts’ consensus estimates of $4.83 by $0.24. JPMorgan Chase & Co. had a return on equity of 17.18% and a net margin of 20.90%.The firm had revenue of $46.43 billion for the quarter, compared to analysts’ expectations of $44.42 billion. During the same period in the prior year, the business posted $4.37 earnings per share. The business’s revenue was up 8.8% compared to the same quarter last year. Sell-side analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, October 6th will be given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 2.0%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. The ex-dividend date is Monday, October 6th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 30.79%.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.