JPMorgan Chase & Co. $JPM Shares Bought by Bay Harbor Wealth Management LLC

Bay Harbor Wealth Management LLC grew its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 22.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 714 shares of the financial services provider’s stock after acquiring an additional 132 shares during the quarter. Bay Harbor Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $207,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. LCM Capital Management Inc increased its position in JPMorgan Chase & Co. by 0.9% during the 2nd quarter. LCM Capital Management Inc now owns 3,847 shares of the financial services provider’s stock worth $1,115,000 after purchasing an additional 36 shares in the last quarter. jvl associates llc increased its position in JPMorgan Chase & Co. by 1.7% during the 2nd quarter. jvl associates llc now owns 2,094 shares of the financial services provider’s stock worth $607,000 after purchasing an additional 36 shares in the last quarter. Lakeshore Financial Planning Inc. increased its position in JPMorgan Chase & Co. by 0.4% during the 2nd quarter. Lakeshore Financial Planning Inc. now owns 8,417 shares of the financial services provider’s stock worth $2,441,000 after purchasing an additional 37 shares in the last quarter. Western Financial Corp CA increased its position in JPMorgan Chase & Co. by 1.5% during the 2nd quarter. Western Financial Corp CA now owns 2,642 shares of the financial services provider’s stock worth $766,000 after purchasing an additional 38 shares in the last quarter. Finally, First Command Advisory Services Inc. increased its position in JPMorgan Chase & Co. by 0.4% during the 1st quarter. First Command Advisory Services Inc. now owns 9,306 shares of the financial services provider’s stock worth $2,283,000 after purchasing an additional 40 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

JPMorgan Chase & Co. stock opened at $301.12 on Friday. The stock has a market cap of $828.00 billion, a P/E ratio of 15.45, a price-to-earnings-growth ratio of 1.94 and a beta of 1.13. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.25. The stock has a 50 day moving average of $301.61 and a 200-day moving average of $276.78. JPMorgan Chase & Co. has a 52 week low of $202.16 and a 52 week high of $318.01.

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, beating the consensus estimate of $4.48 by $0.48. The company 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 business’s revenue was down 10.5% on a year-over-year basis. During the same period in the prior year, the business posted $6.12 EPS. On average, analysts expect 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. 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 represents a $6.00 annualized dividend and a dividend yield of 2.0%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. JPMorgan Chase & Co.’s dividend payout ratio is currently 30.79%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. UBS Group increased their target price on shares of JPMorgan Chase & Co. from $339.00 to $350.00 and gave the stock a “buy” rating in a research report on Tuesday, October 7th. The Goldman Sachs Group upped their price target on JPMorgan Chase & Co. from $336.00 to $350.00 and gave the stock a “buy” rating in a report on Friday, October 3rd. Piper Sandler restated an “overweight” rating on shares of JPMorgan Chase & Co. in a report on Tuesday, July 15th. Zacks Research cut JPMorgan Chase & Co. from a “strong-buy” rating to a “hold” rating in a report on Monday, September 8th. Finally, Royal Bank Of Canada restated a “buy” rating on shares of JPMorgan Chase & Co. in a report on Thursday, September 11th. Fourteen investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, JPMorgan Chase & Co. has an average rating of “Hold” and a consensus price target of $313.89.

Insider Activity

In related 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 transaction of $2,830,430.00. Following the sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.47% of the company’s stock.

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.