D.B. Root & Company LLC Has $1.24 Million Stake in JPMorgan Chase & Co. $JPM

D.B. Root & Company LLC increased its stake in JPMorgan Chase & Co. (NYSE:JPM) by 30.2% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,266 shares of the financial services provider’s stock after acquiring an additional 990 shares during the quarter. D.B. Root & Company LLC’s holdings in JPMorgan Chase & Co. were worth $1,237,000 at the end of the most recent reporting period.

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

JPMorgan Chase & Co. Stock Up 2.4%

Shares of NYSE JPM opened at $308.08 on Tuesday. 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. has a 52 week low of $202.16 and a 52 week high of $318.01. The firm’s fifty day moving average is $301.89 and its 200 day moving average is $277.44. The company has a market cap of $847.15 billion, a price-to-earnings ratio of 15.81, a PEG ratio of 1.94 and a beta of 1.13.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly 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 company had revenue of $44.91 billion during 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 firm’s revenue was down 10.5% on a year-over-year basis. During the same quarter last year, the firm posted $6.12 earnings per share. On average, equities research analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share 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 given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Monday, October 6th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. JPMorgan Chase & Co.’s payout ratio is presently 30.79%.

Wall Street Analyst Weigh In

JPM has been the subject of several research reports. TD Cowen increased their price target on shares of JPMorgan Chase & Co. from $350.00 to $370.00 and gave the company a “buy” rating in a research report on Friday, October 3rd. Deutsche Bank Aktiengesellschaft increased their target price on shares of JPMorgan Chase & Co. from $300.00 to $320.00 and gave the stock a “hold” rating in a research report on Tuesday, September 30th. Weiss Ratings reissued a “buy (b+)” rating on shares of JPMorgan Chase & Co. in a report on Wednesday, October 8th. Wells Fargo & Company increased their price target on shares of JPMorgan Chase & Co. from $325.00 to $345.00 and gave the stock an “overweight” rating in a report on Tuesday, September 16th. Finally, Piper Sandler reissued an “overweight” rating on shares of JPMorgan Chase & Co. in a report on Tuesday, July 15th. Fifteen investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. has an average rating of “Hold” and a consensus target price of $316.00.

Insider Transactions at JPMorgan Chase & Co.

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

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.