Koshinski Asset Management Inc. Acquires 1,596 Shares of JPMorgan Chase & Co. $JPM

Koshinski Asset Management Inc. raised its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 5.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,651 shares of the financial services provider’s stock after acquiring an additional 1,596 shares during the quarter. JPMorgan Chase & Co. comprises approximately 0.7% of Koshinski Asset Management Inc.’s portfolio, making the stock its 23rd biggest holding. Koshinski Asset Management Inc.’s holdings in JPMorgan Chase & Co. were worth $9,756,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Harbor Asset Planning Inc. purchased a new stake in shares of JPMorgan Chase & Co. in the second quarter worth about $26,000. MJT & Associates Financial Advisory Group Inc. purchased a new position in JPMorgan Chase & Co. during the first quarter valued at approximately $28,000. University of Illinois Foundation bought a new stake in JPMorgan Chase & Co. during the 1st quarter worth approximately $30,000. Ryan Investment Management Inc. purchased a new stake in JPMorgan Chase & Co. in the 2nd quarter worth approximately $37,000. Finally, Christopher J. Hasenberg Inc lifted its stake in JPMorgan Chase & Co. by 212.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 106 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. TD Cowen upped their price target on shares of JPMorgan Chase & Co. from $350.00 to $370.00 and gave the stock a “buy” rating in a report on Friday, October 3rd. 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. Hsbc Global Res lowered JPMorgan Chase & Co. from a “hold” rating to a “moderate sell” rating in a research note on Tuesday, July 8th. Weiss Ratings upgraded JPMorgan Chase & Co. from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Saturday. Finally, Cowen reissued a “buy” rating on shares of JPMorgan Chase & Co. in a report on Wednesday, July 16th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $322.27.

JPMorgan Chase & Co. Stock Performance

JPMorgan Chase & Co. stock opened at $304.05 on Tuesday. The company has a current ratio of 0.86, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. The firm has a market cap of $836.06 billion, a P/E ratio of 15.06, a P/E/G ratio of 1.81 and a beta of 1.13. The firm has a 50-day moving average of $303.68 and a 200-day moving average of $282.38. 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 announced 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 return on equity of 17.18% and a net margin of 20.90%.The company had revenue of $46.43 billion during the quarter, compared to analyst estimates of $44.42 billion. During the same quarter last year, the firm posted $4.37 earnings per share. The firm’s revenue was up 8.8% on a year-over-year basis. Sell-side analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, October 6th will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Monday, October 6th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 29.72%.

Insider Activity

In other news, Director Linda Bammann sold 9,500 shares of the business’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 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 SEC, which is available through the SEC website. Insiders own 0.47% of the company’s stock.

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.