Ramirez Asset Management Inc. Boosts Stake in JPMorgan Chase & Co. $JPM

Ramirez Asset Management Inc. increased its position in JPMorgan Chase & Co. (NYSE:JPM) by 46.1% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 22,415 shares of the financial services provider’s stock after purchasing an additional 7,071 shares during the period. Ramirez Asset Management Inc.’s holdings in JPMorgan Chase & Co. were worth $6,498,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. LCM Capital Management Inc increased its position in 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 valued at $1,115,000 after acquiring an additional 36 shares during the period. jvl associates llc increased its position in 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 valued at $607,000 after acquiring an additional 36 shares during the period. Lakeshore Financial Planning Inc. increased its position in 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 valued at $2,441,000 after acquiring an additional 37 shares during the period. Western Financial Corp CA increased its position in 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 valued at $766,000 after acquiring an additional 38 shares during the period. Finally, Morey & Quinn Wealth Partners LLC increased its position in JPMorgan Chase & Co. by 2.3% in the 2nd quarter. Morey & Quinn Wealth Partners LLC now owns 1,664 shares of the financial services provider’s stock valued at $482,000 after acquiring an additional 38 shares during the period. 71.55% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at JPMorgan Chase & Co.

In related news, Director Linda Bammann sold 9,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $297.94, for a total value of $2,830,430.00. Following the sale, the director owned 82,207 shares of the company’s stock, valued at approximately $24,492,753.58. This represents a 10.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.47% of the stock is currently owned by corporate insiders.

JPMorgan Chase & Co. Stock Performance

JPM opened at $297.81 on Friday. The stock has a market cap of $818.91 billion, a P/E ratio of 14.75, a P/E/G ratio of 1.80 and a beta of 1.13. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.86 and a quick ratio of 0.88. The stock’s 50 day simple moving average is $302.82 and its 200 day simple moving average is $278.77. JPMorgan Chase & Co. has a 1-year low of $202.16 and a 1-year high of $318.01.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results 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. The business had revenue of $46.43 billion for the quarter, compared to analysts’ expectations of $44.42 billion. JPMorgan Chase & Co. had a return on equity of 17.18% and a net margin of 20.90%.The company’s revenue was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.37 EPS. As a group, equities 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 declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, October 6th will be issued a $1.50 dividend. The ex-dividend date is Monday, October 6th. This represents a $6.00 dividend on an annualized basis 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 payout ratio is currently 29.72%.

Analyst Ratings Changes

JPM has been the topic of several recent research reports. Barclays boosted their price target on JPMorgan Chase & Co. from $330.00 to $342.00 and gave the company an “overweight” rating in a research report on Wednesday. Wells Fargo & Company boosted their price target on JPMorgan Chase & Co. from $325.00 to $345.00 and gave the company an “overweight” rating in a research report on Tuesday, September 16th. Piper Sandler reiterated an “overweight” rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 15th. Baird R W cut JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research report on Friday, June 27th. Finally, Truist Financial boosted their target price on JPMorgan Chase & Co. from $290.00 to $319.00 and gave the stock a “hold” rating in a research report on Tuesday, September 23rd. Fifteen research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $319.40.

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.