Novare Capital Management LLC Increases Stake in JPMorgan Chase & Co. $JPM

Novare Capital Management LLC lifted its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.3% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 80,362 shares of the financial services provider’s stock after acquiring an additional 1,011 shares during the period. JPMorgan Chase & Co. accounts for approximately 1.9% of Novare Capital Management LLC’s investment portfolio, making the stock its 13th biggest holding. Novare Capital Management LLC’s holdings in JPMorgan Chase & Co. were worth $23,298,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brighton Jones LLC increased its position in JPMorgan Chase & Co. by 11.0% during the fourth quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider’s stock worth $11,682,000 after buying an additional 4,841 shares during the period. Ironwood Wealth Management LLC. increased its holdings in shares of JPMorgan Chase & Co. by 0.7% in the first quarter. Ironwood Wealth Management LLC. now owns 15,400 shares of the financial services provider’s stock valued at $3,778,000 after purchasing an additional 107 shares during the period. Acorns Advisers LLC increased its holdings in shares of JPMorgan Chase & Co. by 6.9% in the first quarter. Acorns Advisers LLC now owns 1,547 shares of the financial services provider’s stock valued at $379,000 after purchasing an additional 100 shares during the period. Omnia Family Wealth LLC increased its holdings in shares of JPMorgan Chase & Co. by 13.6% in the first quarter. Omnia Family Wealth LLC now owns 6,628 shares of the financial services provider’s stock valued at $1,626,000 after purchasing an additional 794 shares during the period. Finally, Phillips Wealth Planners LLC boosted its stake in shares of JPMorgan Chase & Co. by 2.1% in the first quarter. Phillips Wealth Planners LLC now owns 7,285 shares of the financial services provider’s stock valued at $1,721,000 after buying an additional 147 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, Director Linda Bammann sold 9,500 shares of the business’s stock in a transaction 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 completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.47% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

JPM has been the topic of a number of analyst reports. Bank of America lifted their price target on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the company a “buy” rating in a research note on Wednesday, July 16th. Piper Sandler restated an “overweight” rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 15th. Deutsche Bank Aktiengesellschaft lifted their price target on JPMorgan Chase & Co. from $300.00 to $320.00 and gave the company a “hold” rating in a research note on Tuesday, September 30th. Loop Capital set a $310.00 target price on JPMorgan Chase & Co. in a research report on Thursday, October 23rd. Finally, Evercore ISI boosted their target price on JPMorgan Chase & Co. from $309.00 to $330.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 30th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $322.27.

JPMorgan Chase & Co. Stock Performance

NYSE JPM opened at $305.29 on Wednesday. JPMorgan Chase & Co. has a fifty-two week low of $202.16 and a fifty-two week high of $318.01. The stock has a market cap of $839.48 billion, a price-to-earnings ratio of 15.12, a price-to-earnings-growth ratio of 1.83 and a beta of 1.13. The business has a fifty day moving average of $303.98 and a 200-day moving average of $282.92. The company has a quick ratio of 0.88, a current ratio of 0.86 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 earnings per share 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 analysts’ expectations of $44.42 billion. During the same period in the previous year, the firm posted $4.37 earnings per share. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. As a group, analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, October 6th will be issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.0%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Monday, October 6th. JPMorgan Chase & Co.’s payout ratio is presently 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.