Precedent Wealth Partners LLC Has $3.44 Million Stock Position in JPMorgan Chase & Co. $JPM

Precedent Wealth Partners LLC grew its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 8.7% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,847 shares of the financial services provider’s stock after purchasing an additional 950 shares during the quarter. JPMorgan Chase & Co. comprises about 0.8% of Precedent Wealth Partners LLC’s portfolio, making the stock its 28th biggest holding. Precedent Wealth Partners LLC’s holdings in JPMorgan Chase & Co. were worth $3,435,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. MJT & Associates Financial Advisory Group Inc. bought a new position in shares of JPMorgan Chase & Co. during the 1st quarter worth approximately $28,000. University of Illinois Foundation bought a new position in shares of JPMorgan Chase & Co. during the 1st quarter worth approximately $30,000. Ryan Investment Management Inc. bought a new position in shares of JPMorgan Chase & Co. during the 2nd quarter worth approximately $37,000. Christopher J. Hasenberg Inc boosted its stake in shares of JPMorgan Chase & Co. by 212.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 106 shares during the period. Finally, Goodman Advisory Group LLC bought a new position in shares of JPMorgan Chase & Co. during the 1st quarter worth approximately $76,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

Analysts Set New Price Targets

JPM has been the subject of several recent research reports. Phillip Securities downgraded JPMorgan Chase & Co. from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, July 16th. Piper Sandler restated an “overweight” rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 15th. Hsbc Global Res downgraded JPMorgan Chase & Co. from a “hold” rating to a “moderate sell” rating in a research note on Tuesday, July 8th. Keefe, Bruyette & Woods boosted their price target 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. Finally, Bank of America boosted their price target on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the company a “buy” rating in a research note on Wednesday, July 16th. Fourteen analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. currently has an average rating of “Hold” and an average price target of $313.89.

Insider Activity at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the completion of the transaction, the director directly owned 82,207 shares of the company’s stock, valued at approximately $24,492,753.58. This represents a 10.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.47% of the company’s stock.

JPMorgan Chase & Co. Stock Down 1.4%

Shares of JPMorgan Chase & Co. stock opened at $301.12 on Friday. The stock’s 50-day moving average is $301.61 and its 200 day moving average is $276.60. The firm has a market cap of $828.00 billion, a price-to-earnings ratio of 15.45, a PEG ratio of 1.97 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. has a one year low of $202.16 and a one year high of $318.01.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.48 by $0.48. The business had revenue of $44.91 billion for the quarter, compared to analyst estimates 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 quarterly revenue was down 10.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $6.12 earnings per share. Equities research analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, October 6th will be given a dividend of $1.50 per share. The ex-dividend date of this dividend is Monday, October 6th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.0%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 30.79%.

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.