JPMorgan Chase & Co. $JPM Shares Purchased by Belpointe Asset Management LLC

Belpointe Asset Management LLC grew its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 19.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 48,391 shares of the financial services provider’s stock after purchasing an additional 7,956 shares during the period. Belpointe Asset Management LLC’s holdings in JPMorgan Chase & Co. were worth $14,030,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Kingstone Capital Partners Texas LLC boosted its stake in shares of JPMorgan Chase & Co. by 609,867.5% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 72,897,211 shares of the financial services provider’s stock worth $21,133,630,000 after acquiring an additional 72,885,260 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of JPMorgan Chase & Co. by 1.9% during the 1st quarter. Bank of New York Mellon Corp now owns 24,801,153 shares of the financial services provider’s stock worth $6,083,723,000 after acquiring an additional 454,226 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of JPMorgan Chase & Co. by 2.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 20,548,182 shares of the financial services provider’s stock worth $5,040,469,000 after acquiring an additional 548,853 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of JPMorgan Chase & Co. by 5.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 18,441,044 shares of the financial services provider’s stock worth $4,523,588,000 after acquiring an additional 890,553 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in shares of JPMorgan Chase & Co. during the 1st quarter worth approximately $3,972,807,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

Analyst Upgrades and Downgrades

JPM has been the topic of several research analyst reports. The Goldman Sachs Group boosted their price target on JPMorgan Chase & Co. from $336.00 to $350.00 and gave the stock a “buy” rating in a research note on Friday, October 3rd. Weiss Ratings reaffirmed a “buy (b+)” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, October 8th. Truist Financial upped their target price on JPMorgan Chase & Co. from $290.00 to $319.00 and gave the company a “hold” rating in a research note on Tuesday, September 23rd. Robert W. Baird lowered JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $235.00 target price on the stock. in a research note on Friday, June 27th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on JPMorgan Chase & Co. from $300.00 to $320.00 and gave the company a “hold” rating in a research note on Tuesday, September 30th. Fifteen equities research 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. According to MarketBeat, JPMorgan Chase & Co. currently has a consensus rating of “Hold” and an average target price of $316.00.

Insiders Place Their Bets

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 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.47% of the stock is currently owned by insiders.

JPMorgan Chase & Co. Stock Up 2.4%

Shares of NYSE JPM opened at $308.08 on Tuesday. JPMorgan Chase & Co. has a 12-month low of $202.16 and a 12-month high of $318.01. The company has a market cap of $847.15 billion, a P/E ratio of 15.81, a P/E/G 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 fifty day moving average price of $301.89 and a 200 day moving average price of $277.44.

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, beating the consensus estimate of $4.48 by $0.48. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.The firm had revenue of $44.91 billion during the quarter, compared to the consensus estimate of $43.76 billion. During the same period in the prior year, the firm earned $6.12 EPS. The firm’s quarterly revenue was down 10.5% compared to the same quarter last year. Research analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company 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 $1.50 dividend. 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 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.