Litman Gregory Wealth Management LLC Purchases 1,750 Shares of JPMorgan Chase & Co. $JPM

Litman Gregory Wealth Management LLC grew its stake in JPMorgan Chase & Co. (NYSE:JPM) by 85.6% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,795 shares of the financial services provider’s stock after buying an additional 1,750 shares during the quarter. Litman Gregory Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $1,100,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. MJT & Associates Financial Advisory Group Inc. bought a new position in JPMorgan Chase & Co. in the first quarter valued at $28,000. University of Illinois Foundation bought a new position in shares of JPMorgan Chase & Co. in the first quarter valued at about $30,000. Ryan Investment Management Inc. bought a new position in shares of JPMorgan Chase & Co. in the second quarter valued at about $37,000. Christopher J. Hasenberg Inc raised its position in shares of JPMorgan Chase & Co. by 212.0% in the second 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 period. Finally, Goodman Advisory Group LLC bought a new position in shares of JPMorgan Chase & Co. in the first quarter valued at about $76,000. Institutional investors own 71.55% of the company’s stock.

Insider Buying and Selling

In other news, Director Linda Bammann sold 9,500 shares of the company’s stock in a transaction dated 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 in the company, valued at $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 SEC, which is available at this link. 0.47% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on JPM shares. Phillip Securities lowered shares of JPMorgan Chase & Co. from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, July 16th. Truist Financial raised their price target on shares of JPMorgan Chase & Co. from $290.00 to $319.00 and gave the stock a “hold” rating in a research report on Tuesday, September 23rd. Deutsche Bank Aktiengesellschaft raised their price target 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. Wells Fargo & Company raised their target price on shares of JPMorgan Chase & Co. from $325.00 to $345.00 and gave the company an “overweight” rating in a report on Tuesday, September 16th. Finally, Piper Sandler restated an “overweight” rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 15th. Fifteen research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, JPMorgan Chase & Co. has an average rating of “Hold” and an average target price of $316.00.

JPMorgan Chase & Co. Price Performance

JPM stock opened at $308.08 on Tuesday. JPMorgan Chase & Co. has a 52-week low of $202.16 and a 52-week high of $318.01. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.88 and a current ratio of 0.88. The company has a market capitalization of $847.15 billion, a P/E ratio of 15.81, a price-to-earnings-growth ratio of 1.94 and a beta of 1.13. The business has a 50-day simple moving average of $301.89 and a two-hundred day simple moving average of $277.44.

JPMorgan Chase & Co. (NYSE:JPM) last posted its 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. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The firm had revenue of $44.91 billion during the quarter, compared to analyst estimates of $43.76 billion. During the same quarter in the prior year, the business posted $6.12 EPS. The business’s revenue was down 10.5% compared to the same quarter last year. Research analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, October 6th will be issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 1.9%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Monday, October 6th. JPMorgan Chase & Co.’s payout ratio is currently 30.79%.

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.