JPMorgan Chase & Co. $JPM Stock Position Lifted by Sound Income Strategies LLC

Sound Income Strategies LLC increased its stake in JPMorgan Chase & Co. (NYSE:JPM) by 3.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,246 shares of the financial services provider’s stock after purchasing an additional 387 shares during the period. Sound Income Strategies LLC’s holdings in JPMorgan Chase & Co. were worth $3,260,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. New Perspectives Inc increased its position in JPMorgan Chase & Co. by 6.9% in the 2nd quarter. New Perspectives Inc now owns 1,703 shares of the financial services provider’s stock valued at $494,000 after acquiring an additional 110 shares during the period. Investment Research & Advisory Group Inc. increased its position in JPMorgan Chase & Co. by 0.6% in the 2nd quarter. Investment Research & Advisory Group Inc. now owns 25,608 shares of the financial services provider’s stock valued at $7,424,000 after acquiring an additional 147 shares during the period. Global Trust Asset Management LLC increased its position in JPMorgan Chase & Co. by 33.5% in the 2nd quarter. Global Trust Asset Management LLC now owns 6,104 shares of the financial services provider’s stock valued at $1,770,000 after acquiring an additional 1,533 shares during the period. Investment Advisory Services Inc. TX ADV increased its position in JPMorgan Chase & Co. by 1.6% in the 2nd quarter. Investment Advisory Services Inc. TX ADV now owns 17,862 shares of the financial services provider’s stock valued at $5,178,000 after acquiring an additional 279 shares during the period. Finally, Moody Lynn & Lieberson LLC increased its position in JPMorgan Chase & Co. by 1.1% in the 2nd quarter. Moody Lynn & Lieberson LLC now owns 199,082 shares of the financial services provider’s stock valued at $57,716,000 after acquiring an additional 2,162 shares during the period. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, Director Linda Bammann sold 9,500 shares of the company’s stock in a transaction that occurred 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 represents a 10.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.47% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on JPM shares. Morgan Stanley lifted their price target on JPMorgan Chase & Co. from $298.00 to $336.00 and gave the company an “equal weight” rating in a research report on Monday. Piper Sandler restated an “overweight” rating on shares of JPMorgan Chase & Co. in a report on Tuesday, July 15th. Robert W. Baird cut JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $235.00 target price on the stock. in a report on Friday, June 27th. The Goldman Sachs Group set a $330.00 target price on JPMorgan Chase & Co. in a report on Tuesday. Finally, Phillip Securities cut JPMorgan Chase & Co. from a “moderate buy” rating to a “hold” rating in a report on Wednesday, July 16th. Fourteen equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, JPMorgan Chase & Co. currently has a consensus rating of “Hold” and a consensus target price of $303.45.

JPMorgan Chase & Co. Price Performance

Shares of NYSE:JPM opened at $309.89 on Friday. JPMorgan Chase & Co. has a fifty-two week low of $202.16 and a fifty-two week high of $318.01. The business has a 50-day moving average of $300.67 and a two-hundred day moving average of $274.48. The stock has a market capitalization of $852.11 billion, a P/E ratio of 15.90, a P/E/G ratio of 2.03 and a beta of 1.13. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.88.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share for the quarter, topping the consensus estimate of $4.48 by $0.48. The business had revenue of $44.91 billion during the quarter, compared to analysts’ expectations of $43.76 billion. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.The firm’s revenue was down 10.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $6.12 EPS. On average, equities research analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, October 6th will be issued a $1.50 dividend. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Monday, October 6th. This represents a $6.00 annualized dividend and a yield of 1.9%. JPMorgan Chase & Co.’s payout ratio is currently 28.73%.

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.