Kelly Financial Services LLC Increases Stake in JPMorgan Chase & Co. $JPM

Kelly Financial Services LLC lifted its stake in JPMorgan Chase & Co. (NYSE:JPM) by 6.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,248 shares of the financial services provider’s stock after buying an additional 136 shares during the quarter. Kelly Financial Services LLC’s holdings in JPMorgan Chase & Co. were worth $652,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC lifted its position in shares of JPMorgan Chase & Co. by 11.0% in the fourth quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider’s stock worth $11,682,000 after buying an additional 4,841 shares in the last quarter. Curat Global LLC purchased a new position in JPMorgan Chase & Co. during the 1st quarter valued at approximately $33,000. Procyon Advisors LLC increased its stake in JPMorgan Chase & Co. by 0.6% in the 1st quarter. Procyon Advisors LLC now owns 90,497 shares of the financial services provider’s stock worth $22,199,000 after acquiring an additional 564 shares during the last quarter. MKT Advisors LLC raised its holdings in shares of JPMorgan Chase & Co. by 3.3% during the 1st quarter. MKT Advisors LLC now owns 2,869 shares of the financial services provider’s stock worth $704,000 after acquiring an additional 91 shares in the last quarter. Finally, Sandbox Financial Partners LLC raised its holdings in shares of JPMorgan Chase & Co. by 4.7% during the 1st quarter. Sandbox Financial Partners LLC now owns 5,946 shares of the financial services provider’s stock worth $1,459,000 after acquiring an additional 267 shares in the last quarter. Institutional investors own 71.55% of the company’s stock.

Insider Activity

In other news, Director Linda Bammann sold 9,500 shares of the business’s 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 completion of the transaction, the director owned 82,207 shares of the company’s stock, valued at $24,492,753.58. The trade was a 10.36% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.47% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on JPM. Truist Financial upped their price target 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. Weiss Ratings reiterated a “buy (b+)” rating on shares of JPMorgan Chase & Co. in a research report on Saturday, September 27th. Morgan Stanley boosted their price objective on JPMorgan Chase & Co. from $298.00 to $336.00 and gave the stock an “equal weight” rating in a research note on Monday, September 29th. Robert W. Baird lowered JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $235.00 price objective for the company. in a research note on Friday, June 27th. Finally, Citigroup lifted their target price on JPMorgan Chase & Co. from $275.00 to $325.00 and gave the stock a “neutral” rating in a report on Wednesday, September 24th. Fifteen analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, JPMorgan Chase & Co. presently has a consensus rating of “Hold” and a consensus price target of $307.70.

JPMorgan Chase & Co. Stock Performance

Shares of JPMorgan Chase & Co. stock opened at $309.89 on Friday. The company has a 50 day moving average price of $300.67 and a 200 day moving average price of $274.72. The firm has a market capitalization of $852.11 billion, a P/E ratio of 15.90, a PEG ratio of 2.04 and a beta of 1.13. JPMorgan Chase & Co. has a 52 week low of $202.16 and a 52 week high of $318.01. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.25.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, topping analysts’ consensus estimates of $4.48 by $0.48. The firm had revenue of $44.91 billion during the quarter, compared to the consensus estimate of $43.76 billion. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.The company’s revenue was down 10.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $6.12 earnings per share. Sell-side analysts expect that JPMorgan Chase & Co. will post 18.1 EPS 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. Shareholders of record on Monday, October 6th will be paid a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Monday, October 6th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 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.