Purus Wealth Management LLC Grows Position in JPMorgan Chase & Co. $JPM

Purus Wealth Management LLC boosted its stake in JPMorgan Chase & Co. (NYSE:JPM) by 16.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 15,467 shares of the financial services provider’s stock after buying an additional 2,180 shares during the period. JPMorgan Chase & Co. makes up approximately 1.6% of Purus Wealth Management LLC’s portfolio, making the stock its 14th biggest position. Purus Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $4,484,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently bought and sold shares of the stock. Harbor Asset Planning Inc. acquired a new position in shares of JPMorgan Chase & Co. in the 2nd quarter worth approximately $26,000. MJT & Associates Financial Advisory Group Inc. acquired a new stake in JPMorgan Chase & Co. in the 1st quarter valued at approximately $28,000. University of Illinois Foundation purchased a new stake in JPMorgan Chase & Co. in the first quarter valued at approximately $30,000. Ryan Investment Management Inc. acquired a new position in JPMorgan Chase & Co. during the second quarter worth $37,000. Finally, Christopher J. Hasenberg Inc lifted its stake in JPMorgan Chase & Co. by 212.0% during the second quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 106 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

Shares of JPMorgan Chase & Co. stock opened at $308.09 on Thursday. The business has a 50-day simple moving average of $307.02 and a 200-day simple moving average of $292.56. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.86. JPMorgan Chase & Co. has a one year low of $202.16 and a one year high of $322.25. The company has a market cap of $838.71 billion, a PE ratio of 15.26, a P/E/G ratio of 1.84 and a beta of 1.14.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.83 by $0.24. JPMorgan Chase & Co. had a net margin of 20.90% and a return on equity of 17.18%. The company had revenue of $47.12 billion during the quarter, compared to the consensus estimate of $44.42 billion. During the same quarter in the previous year, the firm earned $4.37 earnings per share. The firm’s quarterly revenue was up 8.8% on a year-over-year basis. On average, equities research analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Monday, October 6th were paid a dividend of $1.50 per share. The ex-dividend date was Monday, October 6th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.9%. JPMorgan Chase & Co.’s payout ratio is presently 29.72%.

Analyst Ratings Changes

JPM has been the subject of a number of research reports. Keefe, Bruyette & Woods boosted their price objective on JPMorgan Chase & Co. from $330.00 to $354.00 and gave the company an “outperform” rating in a report on Friday, October 10th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $366.00 target price on shares of JPMorgan Chase & Co. in a research report on Tuesday, October 14th. Wells Fargo & Company increased their price target on shares of JPMorgan Chase & Co. from $345.00 to $350.00 and gave the stock an “overweight” rating in a research report on Monday, November 3rd. Truist Financial raised their price objective on shares of JPMorgan Chase & Co. from $290.00 to $319.00 and gave the company a “hold” rating in a research note on Tuesday, September 23rd. Finally, Wall Street Zen raised shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Fifteen equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, JPMorgan Chase & Co. has an average rating of “Hold” and a consensus price target of $326.38.

Insider Buying and Selling at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, insider Robin Leopold sold 966 shares of the firm’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $311.92, for a total value of $301,314.72. Following the sale, the insider directly owned 58,479 shares in the company, valued at $18,240,769.68. This trade represents a 1.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction dated 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 of the company’s stock, valued at $24,492,753.58. This trade represents a 10.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.47% of the company’s stock.

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.