M1 Capital Management LLC Boosts Stock Holdings in JPMorgan Chase & Co. $JPM

M1 Capital Management LLC boosted its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 2.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,233 shares of the financial services provider’s stock after buying an additional 49 shares during the period. M1 Capital Management LLC’s holdings in JPMorgan Chase & Co. were worth $647,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. MJT & Associates Financial Advisory Group Inc. purchased a new stake in shares of JPMorgan Chase & Co. in the first quarter valued at approximately $28,000. University of Illinois Foundation purchased a new stake in shares of JPMorgan Chase & Co. in the first quarter valued at approximately $30,000. Ryan Investment Management Inc. purchased a new stake in shares of JPMorgan Chase & Co. in the second quarter valued at approximately $37,000. Christopher J. Hasenberg Inc lifted its holdings in JPMorgan Chase & Co. by 212.0% in the second quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 106 shares during the last quarter. Finally, Goodman Advisory Group LLC acquired a new position in JPMorgan Chase & Co. in the first quarter valued at approximately $76,000. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on JPM. Baird R W cut JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a report on Friday, June 27th. Cowen reiterated a “buy” rating on shares of JPMorgan Chase & Co. in a report on Wednesday, July 16th. Piper Sandler reiterated an “overweight” rating on shares of JPMorgan Chase & Co. in a report on Tuesday, July 15th. Deutsche Bank Aktiengesellschaft upped their price objective on JPMorgan Chase & Co. from $300.00 to $320.00 and gave the company a “hold” rating in a report on Tuesday, September 30th. Finally, Wells Fargo & Company upped their price objective on JPMorgan Chase & Co. from $325.00 to $345.00 and gave the company an “overweight” rating in a report on Tuesday, September 16th. Fifteen analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $319.40.

JPMorgan Chase & Co. Trading Down 0.2%

JPM opened at $297.81 on Friday. JPMorgan Chase & Co. has a 52 week low of $202.16 and a 52 week high of $318.01. The business has a fifty day simple moving average of $302.82 and a 200-day simple moving average of $278.77. The firm has a market cap of $818.91 billion, a P/E ratio of 14.75, a P/E/G ratio of 1.80 and a beta of 1.13. The company has a quick ratio of 0.88, a current ratio of 0.86 and a debt-to-equity ratio of 1.26.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $5.07 EPS for the quarter, topping the consensus estimate 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 business had revenue of $46.43 billion during the quarter, compared to analyst estimates of $44.42 billion. During the same period last year, the business posted $4.37 earnings per share. The company’s quarterly revenue was up 8.8% on a year-over-year basis. On average, equities analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, October 6th will be paid a $1.50 dividend. The ex-dividend date is Monday, October 6th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. This represents a $6.00 annualized dividend and a dividend yield of 2.0%. JPMorgan Chase & Co.’s payout ratio is 29.72%.

Insider Activity

In other news, Director Linda Bammann sold 9,500 shares of the 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 approximately $24,492,753.58. This trade represents a 10.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.47% of the company’s stock.

JPMorgan Chase & Co. 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.