Canopy Partners LLC Raises Position in JPMorgan Chase & Co. $JPM

Canopy Partners LLC lifted its position in JPMorgan Chase & Co. (NYSE:JPM) by 0.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,738 shares of the financial services provider’s stock after acquiring an additional 125 shares during the period. JPMorgan Chase & Co. accounts for approximately 1.6% of Canopy Partners LLC’s investment portfolio, making the stock its 17th biggest holding. Canopy Partners LLC’s holdings in JPMorgan Chase & Co. were worth $4,273,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. LCM Capital Management Inc lifted its position in shares of JPMorgan Chase & Co. by 0.9% in the 2nd quarter. LCM Capital Management Inc now owns 3,847 shares of the financial services provider’s stock worth $1,115,000 after buying an additional 36 shares during the last quarter. jvl associates llc lifted its position 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 buying an additional 36 shares during the last quarter. Lakeshore Financial Planning Inc. lifted its position in shares of JPMorgan Chase & Co. by 0.4% in the 2nd quarter. Lakeshore Financial Planning Inc. now owns 8,417 shares of the financial services provider’s stock worth $2,441,000 after buying an additional 37 shares during the last quarter. Western Financial Corp CA lifted its position in shares of JPMorgan Chase & Co. by 1.5% in the 2nd quarter. Western Financial Corp CA now owns 2,642 shares of the financial services provider’s stock worth $766,000 after buying an additional 38 shares during the last quarter. Finally, First Command Advisory Services Inc. lifted its position in shares of JPMorgan Chase & Co. by 0.4% in 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 buying an additional 40 shares during the last quarter. 71.55% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

JPM has been the topic of several recent research reports. UBS Group lifted their price objective on shares of JPMorgan Chase & Co. from $339.00 to $350.00 and gave the company a “buy” rating in a research report on Tuesday, October 7th. Piper Sandler reiterated an “overweight” rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 15th. Morgan Stanley lifted their price objective on shares of JPMorgan Chase & Co. from $336.00 to $338.00 and gave the company an “equal weight” rating in a research report on Wednesday. Weiss Ratings reiterated a “buy (b+)” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, October 8th. Finally, Phillip Securities downgraded shares of JPMorgan Chase & Co. from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, July 16th. Fifteen investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, JPMorgan Chase & Co. presently has a consensus rating of “Hold” and a consensus target price of $319.40.

JPMorgan Chase & Co. Stock Up 1.3%

JPM stock opened at $305.94 on Thursday. JPMorgan Chase & Co. has a 52 week low of $202.16 and a 52 week high of $318.01. The company has a market capitalization of $841.24 billion, a price-to-earnings ratio of 15.15, a price-to-earnings-growth ratio of 1.94 and a beta of 1.13. The firm’s 50-day moving average is $302.40 and its two-hundred day moving average is $277.80. The company has a current ratio of 0.86, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $5.07 EPS for the quarter, topping analysts’ consensus estimates of $4.83 by $0.24. JPMorgan Chase & Co. had a net margin of 20.90% and a return on equity of 17.18%. The company had revenue of $46.43 billion for the quarter, compared to the consensus estimate of $44.42 billion. During the same period in the previous year, the firm earned $4.37 EPS. JPMorgan Chase & Co.’s revenue was up 8.8% on a year-over-year basis. On average, analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share 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. Stockholders of record on Monday, October 6th will be paid a $1.50 dividend. 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 presently 30.79%.

Insider Activity

In other news, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total value of $2,830,430.00. Following the transaction, the director owned 82,207 shares of the company’s stock, valued at $24,492,753.58. The trade was a 10.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.47% of the stock is owned by corporate insiders.

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.