JPMorgan Chase & Co. $JPM Shares Bought by Drake & Associates LLC

Drake & Associates LLC boosted its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 46.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,663 shares of the financial services provider’s stock after acquiring an additional 4,682 shares during the quarter. JPMorgan Chase & Co. comprises 1.0% of Drake & Associates LLC’s holdings, making the stock its 17th largest holding. Drake & Associates LLC’s holdings in JPMorgan Chase & Co. were worth $4,251,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. MJT & Associates Financial Advisory Group Inc. acquired a new stake in JPMorgan Chase & Co. in the 1st quarter valued at approximately $28,000. University of Illinois Foundation acquired a new stake in JPMorgan Chase & Co. in the 1st quarter valued at approximately $30,000. Ryan Investment Management Inc. acquired a new stake in JPMorgan Chase & Co. in the 2nd quarter valued at approximately $37,000. Christopher J. Hasenberg Inc increased its holdings 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 purchasing an additional 106 shares during the last quarter. Finally, Goodman Advisory Group LLC acquired a new position in shares of JPMorgan Chase & Co. in the first quarter worth $76,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, Director Linda Bammann sold 9,500 shares of the stock in a transaction dated 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 completion of the sale, the director owned 82,207 shares in the company, 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 filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.47% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on JPM. The Goldman Sachs Group boosted their price target on shares of JPMorgan Chase & Co. from $336.00 to $350.00 and gave the stock a “buy” rating in a research note on Friday, October 3rd. Phillip Securities lowered JPMorgan Chase & Co. from a “moderate buy” rating to a “hold” rating in a report on Wednesday, July 16th. Truist Financial lifted their target price on JPMorgan Chase & Co. from $290.00 to $319.00 and gave the company a “hold” rating in a report on Tuesday, September 23rd. Daiwa Capital Markets lifted their target price on JPMorgan Chase & Co. from $330.00 to $332.00 and gave the company an “outperform” rating in a report on Wednesday, October 8th. Finally, Evercore ISI lifted their target price on JPMorgan Chase & Co. from $309.00 to $330.00 and gave the company an “outperform” rating in a report on Tuesday, September 30th. Fifteen research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, JPMorgan Chase & Co. has an average rating of “Hold” and an average target price of $316.00.

JPMorgan Chase & Co. Price Performance

Shares of NYSE:JPM opened at $308.08 on Tuesday. JPMorgan Chase & Co. has a one year low of $202.16 and a one year high of $318.01. The stock has a market capitalization of $847.15 billion, a price-to-earnings ratio of 15.81, a PEG ratio of 1.94 and a beta of 1.13. The company has a 50-day simple moving average of $301.89 and a 200-day simple moving average of $277.44. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.88 and a current ratio of 0.88.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results 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 net margin of 20.52% and a return on equity of 16.93%. The business had revenue of $44.91 billion during the quarter, compared to the consensus estimate of $43.76 billion. During the same quarter in the prior year, the firm earned $6.12 earnings per share. The business’s quarterly revenue was down 10.5% compared to the same quarter last year. On average, analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, October 6th will be paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 1.9%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. The ex-dividend date is Monday, October 6th. JPMorgan Chase & Co.’s 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.