Argyle Capital Management LLC Acquires 300 Shares of JPMorgan Chase & Co. $JPM

Argyle Capital Management LLC lifted its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 1.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,779 shares of the financial services provider’s stock after purchasing an additional 300 shares during the period. JPMorgan Chase & Co. comprises 3.1% of Argyle Capital Management LLC’s holdings, making the stock its 3rd biggest holding. Argyle Capital Management LLC’s holdings in JPMorgan Chase & Co. were worth $8,633,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. LCM Capital Management Inc grew its stake 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 purchasing an additional 36 shares during the last quarter. jvl associates llc raised its holdings in shares of JPMorgan Chase & Co. by 1.7% during the second quarter. jvl associates llc now owns 2,094 shares of the financial services provider’s stock valued at $607,000 after acquiring an additional 36 shares during the period. 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 purchasing an additional 37 shares in the last quarter. 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 purchasing an additional 38 shares in the last quarter. Finally, Morey & Quinn Wealth Partners LLC grew its position in JPMorgan Chase & Co. by 2.3% during the second quarter. Morey & Quinn Wealth Partners LLC now owns 1,664 shares of the financial services provider’s stock valued at $482,000 after purchasing an additional 38 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on JPM. UBS Group boosted 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. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of JPMorgan Chase & Co. from $300.00 to $320.00 and gave the company a “hold” rating in a research report on Tuesday, September 30th. Royal Bank Of Canada reissued a “buy” rating and issued a $343.00 target price on shares of JPMorgan Chase & Co. in a research report on Tuesday, October 14th. Truist Financial boosted their target price 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. Finally, Piper Sandler reissued an “overweight” rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 15th. Fifteen equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, JPMorgan Chase & Co. currently has an average rating of “Hold” and a consensus target price of $319.40.

Insider Buying and Selling

In related news, Director Linda Bammann sold 9,500 shares of the company’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 completion of the transaction, the director directly owned 82,207 shares in the company, valued at $24,492,753.58. This represents a 10.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.47% of the stock is currently owned by insiders.

JPMorgan Chase & Co. Price Performance

Shares of JPMorgan Chase & Co. stock opened at $297.81 on Friday. The firm has a fifty day simple moving average of $302.82 and a 200-day simple moving average of $278.77. 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. has a 1-year low of $202.16 and a 1-year high of $318.01. The stock has a market capitalization of $818.91 billion, a price-to-earnings ratio of 14.75, a PEG ratio of 1.80 and a beta of 1.13.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share 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 business had revenue of $46.43 billion during the quarter, compared to analysts’ expectations of $44.42 billion. During the same period in the previous year, the company earned $4.37 earnings per share. JPMorgan Chase & Co.’s revenue for the quarter was up 8.8% on a year-over-year basis. On average, sell-side 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 announced a quarterly dividend, which will be paid on Friday, October 31st. Investors 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 yield of 2.0%. The ex-dividend date 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 29.72%.

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.