Summit Financial Strategies Inc. Increases Stock Holdings in JPMorgan Chase & Co. $JPM

Summit Financial Strategies Inc. boosted its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 1.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,502 shares of the financial services provider’s stock after purchasing an additional 131 shares during the period. Summit Financial Strategies Inc.’s holdings in JPMorgan Chase & Co. were worth $3,045,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Asio Capital LLC boosted its position in JPMorgan Chase & Co. by 3.2% in the second quarter. Asio Capital LLC now owns 9,328 shares of the financial services provider’s stock worth $2,704,000 after purchasing an additional 290 shares during the last quarter. Kavar Capital Partners Group LLC raised its stake in shares of JPMorgan Chase & Co. by 2.6% in the second quarter. Kavar Capital Partners Group LLC now owns 44,254 shares of the financial services provider’s stock valued at $12,830,000 after buying an additional 1,122 shares during the period. Venture Visionary Partners LLC raised its stake in shares of JPMorgan Chase & Co. by 2.9% in the second quarter. Venture Visionary Partners LLC now owns 238,863 shares of the financial services provider’s stock valued at $69,249,000 after buying an additional 6,791 shares during the period. Elser Financial Planning Inc bought a new stake in shares of JPMorgan Chase & Co. in the second quarter valued at $1,626,000. Finally, Cyr Financial Inc. raised its stake in shares of JPMorgan Chase & Co. by 32.3% in the second quarter. Cyr Financial Inc. now owns 3,599 shares of the financial services provider’s stock valued at $1,043,000 after buying an additional 879 shares during the period. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the 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 completion of the sale, the director owned 82,207 shares in the company, valued at approximately $24,492,753.58. This trade represents a 10.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.47% of the company’s stock.

JPMorgan Chase & Co. Trading Up 0.8%

Shares of JPM stock opened at $309.89 on Friday. JPMorgan Chase & Co. has a 1-year low of $202.16 and a 1-year high of $318.01. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.88. The business has a 50-day moving average of $300.67 and a 200 day moving average of $274.72. The stock has a market capitalization of $852.11 billion, a PE ratio of 15.90, a P/E/G ratio of 2.04 and a beta of 1.13.

JPMorgan Chase & Co. (NYSE:JPM) last released 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. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.The business had revenue of $44.91 billion during the quarter, compared to analysts’ expectations of $43.76 billion. During the same quarter last year, the business posted $6.12 EPS. The business’s revenue was down 10.5% on a year-over-year basis. As a group, sell-side analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently disclosed 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 an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. The ex-dividend date is Monday, October 6th. This represents a $6.00 annualized dividend and a yield of 1.9%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 28.73%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on JPM shares. Royal Bank Of Canada reiterated a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Thursday, September 11th. Keefe, Bruyette & Woods boosted their price objective on JPMorgan Chase & Co. from $327.00 to $330.00 and gave the company an “outperform” rating in a research note on Wednesday, July 16th. Morgan Stanley boosted their price objective on JPMorgan Chase & Co. from $298.00 to $336.00 and gave the company an “equal weight” rating in a research note on Monday, September 29th. Truist Financial boosted their price objective on 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, Zacks Research cut JPMorgan Chase & Co. from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 8th. Fifteen 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 company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $307.70.

About JPMorgan Chase & Co.

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.