JPMorgan Chase & Co. $JPM Shares Bought by Wallington Asset Management LLC

Wallington Asset Management LLC lifted its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,987 shares of the financial services provider’s stock after purchasing an additional 64 shares during the period. Wallington Asset Management LLC’s holdings in JPMorgan Chase & Co. were worth $1,446,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the business. MJT & Associates Financial Advisory Group Inc. purchased a new stake in shares of JPMorgan Chase & Co. during the 1st quarter worth approximately $28,000. University of Illinois Foundation purchased a new stake in JPMorgan Chase & Co. during the 1st quarter worth $30,000. Ryan Investment Management Inc. purchased a new stake in JPMorgan Chase & Co. during the 2nd quarter worth $37,000. Christopher J. Hasenberg Inc boosted its position in JPMorgan Chase & Co. by 212.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider’s stock valued at $45,000 after buying an additional 106 shares during the last quarter. Finally, Goodman Advisory Group LLC bought a new position in shares of JPMorgan Chase & Co. during the first quarter worth about $76,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on JPM. Piper Sandler reiterated an “overweight” rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 15th. HSBC reaffirmed a “reduce” rating and issued a $259.00 price objective on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 8th. Keefe, Bruyette & Woods raised their price target on shares of JPMorgan Chase & Co. from $327.00 to $330.00 and gave the company an “outperform” rating in a report on Wednesday, July 16th. Weiss Ratings reiterated a “buy (b+)” rating on shares of JPMorgan Chase & Co. in a report on Wednesday. Finally, Royal Bank Of Canada restated a “buy” rating on shares of JPMorgan Chase & Co. in a report on Thursday, September 11th. Fourteen equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $313.89.

Insiders Place Their Bets

In related news, Director Linda Bammann sold 9,500 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The shares were 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 approximately $24,492,753.58. This trade represents a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.47% of the company’s stock.

JPMorgan Chase & Co. Stock Down 1.4%

Shares of NYSE:JPM opened at $301.12 on Friday. JPMorgan Chase & Co. has a 52 week low of $202.16 and a 52 week high of $318.01. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.88 and a current ratio of 0.88. The company has a market capitalization of $828.00 billion, a PE ratio of 15.45, a PEG ratio of 1.97 and a beta of 1.13. The company has a 50 day moving average price of $301.61 and a two-hundred day moving average price of $276.60.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, beating the consensus estimate 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 net margin of 20.52% and a return on equity of 16.93%. The business’s quarterly revenue was down 10.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $6.12 earnings per share. Analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, October 6th will be issued a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 2.0%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. The ex-dividend date is Monday, October 6th. JPMorgan Chase & Co.’s dividend payout ratio is currently 30.79%.

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.