Klingenstein Fields & Co. LP Grows Stake in JPMorgan Chase & Co. (NYSE:JPM)

Klingenstein Fields & Co. LP grew its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 5.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 226,805 shares of the financial services provider’s stock after purchasing an additional 10,849 shares during the period. Klingenstein Fields & Co. LP’s holdings in JPMorgan Chase & Co. were worth $23,701,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Grayhawk Investment Strategies Inc. acquired a new stake in shares of JPMorgan Chase & Co. during the 2nd quarter valued at approximately $32,000. HBC Financial Services PLLC grew its position in JPMorgan Chase & Co. by 61.2% in the 2nd quarter. HBC Financial Services PLLC now owns 237 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 90 shares during the last quarter. Financial Connections Group Inc. grew its holdings in JPMorgan Chase & Co. by 48.5% in the 2nd quarter. Financial Connections Group Inc. now owns 306 shares of the financial services provider’s stock worth $34,000 after buying an additional 100 shares in the last quarter. Horizons Wealth Management acquired a new position in shares of JPMorgan Chase & Co. during the second quarter valued at $39,000. Finally, New Millennium Group LLC acquired a new position in JPMorgan Chase & Co. during the 2nd quarter valued at about $39,000. Institutional investors and hedge funds own 67.89% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

Shares of JPMorgan Chase & Co. stock opened at $143.01 on Tuesday. JPMorgan Chase & Co. has a 12 month low of $101.28 and a 12 month high of $161.03. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.12. The stock has a market cap of $419.48 billion, a PE ratio of 11.84, a price-to-earnings-growth ratio of 2.23 and a beta of 1.13. The business has a fifty day simple moving average of $134.29 and a 200-day simple moving average of $122.13.

JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last announced its quarterly earnings data on Friday, January 13th. The financial services provider reported $3.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.14 by $0.43. JPMorgan Chase & Co. had a return on equity of 14.68% and a net margin of 24.34%. The firm had revenue of $34.55 billion during the quarter, compared to the consensus estimate of $34.23 billion. During the same period in the prior year, the business earned $3.33 EPS. The business’s revenue for the quarter was up 18.1% on a year-over-year basis. On average, sell-side analysts anticipate that JPMorgan Chase & Co. will post 12.81 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 31st. Investors of record on Friday, January 6th will be given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date is Thursday, January 5th. JPMorgan Chase & Co.’s payout ratio is presently 33.11%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft downgraded JPMorgan Chase & Co. from a “buy” rating to a “hold” rating and cut their target price for the stock from $155.00 to $145.00 in a research report on Friday, January 6th. Royal Bank of Canada set a $130.00 target price on JPMorgan Chase & Co. in a research note on Friday. Piper Sandler began coverage on shares of JPMorgan Chase & Co. in a research report on Thursday, December 8th. They issued an “overweight” rating and a $150.00 price target on the stock. Citigroup raised their price objective on shares of JPMorgan Chase & Co. from $135.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, December 12th. Finally, Barclays lifted their price objective on shares of JPMorgan Chase & Co. from $162.00 to $189.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 3rd. Seven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $145.17.

Insider Buying and Selling at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, Vice Chairman Peter Scher sold 1,310 shares of JPMorgan Chase & Co. stock in a transaction on Wednesday, October 26th. The shares were sold at an average price of $125.02, for a total transaction of $163,776.20. Following the completion of the sale, the insider now owns 34,973 shares of the company’s stock, valued at approximately $4,372,324.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Douglas B. Petno sold 5,139 shares of the business’s stock in a transaction that occurred on Wednesday, October 26th. The stock was sold at an average price of $125.02, for a total value of $642,477.78. Following the completion of the sale, the chief executive officer now owns 248,011 shares of the company’s stock, valued at approximately $31,006,335.22. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Vice Chairman Peter Scher sold 1,310 shares of the stock in a transaction that occurred on Wednesday, October 26th. The stock was sold at an average price of $125.02, for a total value of $163,776.20. Following the completion of the transaction, the insider now owns 34,973 shares in the company, valued at approximately $4,372,324.46. The disclosure for this sale can be found here. In the last quarter, insiders have sold 8,449 shares of company stock worth $1,056,394. 0.79% of the stock is currently owned by company insiders.

JPMorgan Chase & Co. Profile

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JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers s deposit, investment and lending products, payments, and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit card, auto loan, and leasing services.