Pettinga Financial Advisors LLC Takes $204,000 Position in JPMorgan Chase & Co. $JPM

Pettinga Financial Advisors LLC bought a new stake in JPMorgan Chase & Co. (NYSE:JPM) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 703 shares of the financial services provider’s stock, valued at approximately $204,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. MJT & Associates Financial Advisory Group Inc. bought a new stake in shares of JPMorgan Chase & Co. in the 1st quarter worth about $28,000. University of Illinois Foundation acquired a new position in shares of JPMorgan Chase & Co. in the 1st quarter valued at about $30,000. Ryan Investment Management Inc. acquired a new position in shares of JPMorgan Chase & Co. in the 2nd quarter valued at about $37,000. Christopher J. Hasenberg Inc boosted its stake in JPMorgan Chase & Co. by 212.0% during the 2nd 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 acquired a new position in JPMorgan Chase & Co. during the 1st quarter valued at about $76,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Insider Transactions at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the business’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 sale, the director directly 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 Securities & Exchange Commission, which is available through this hyperlink. 0.47% of the stock is currently owned by company insiders.

JPMorgan Chase & Co. Price Performance

NYSE JPM opened at $300.27 on Friday. The stock has a market capitalization of $825.66 billion, a P/E ratio of 14.87, a P/E/G ratio of 1.81 and a beta of 1.13. JPMorgan Chase & Co. has a 1 year low of $202.16 and a 1 year high of $318.01. The business’s fifty day moving average is $303.43 and its two-hundred day moving average is $281.56. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.86.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business earned $4.37 EPS. The company’s revenue was up 8.8% on a year-over-year basis. On average, research analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, October 6th will be paid a dividend of $1.50 per share. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Monday, October 6th. This represents a $6.00 annualized dividend and a yield of 2.0%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 29.72%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on JPM. Barclays boosted their target price on shares of JPMorgan Chase & Co. from $330.00 to $342.00 and gave the company an “overweight” rating in a research note on Wednesday, October 15th. Hsbc Global Res lowered shares of JPMorgan Chase & Co. from a “hold” rating to a “moderate sell” rating in a research note on Tuesday, July 8th. Cowen restated a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, July 16th. Zacks Research upgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 20th. Finally, Truist Financial boosted 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. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $322.27.

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.