Benin Management CORP Grows Holdings in JPMorgan Chase & Co. $JPM

Benin Management CORP grew its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 7.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,803 shares of the financial services provider’s stock after purchasing an additional 1,240 shares during the period. JPMorgan Chase & Co. comprises approximately 1.4% of Benin Management CORP’s holdings, making the stock its 12th largest holding. Benin Management CORP’s holdings in JPMorgan Chase & Co. were worth $5,451,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of JPM. Harbor Asset Planning Inc. purchased a new position in shares of JPMorgan Chase & Co. during the second quarter valued at $26,000. MJT & Associates Financial Advisory Group Inc. purchased a new position in shares of JPMorgan Chase & Co. during the first quarter valued at $28,000. University of Illinois Foundation purchased a new position in shares of JPMorgan Chase & Co. during the first quarter valued at $30,000. Ryan Investment Management Inc. purchased a new position in shares of JPMorgan Chase & Co. during the second quarter valued at $37,000. Finally, Christopher J. Hasenberg Inc increased its stake in shares of JPMorgan Chase & Co. by 212.0% during the second quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider’s stock valued at $45,000 after buying an additional 106 shares during the period. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Price Performance

Shares of JPM stock opened at $311.47 on Friday. JPMorgan Chase & Co. has a 1-year low of $202.16 and a 1-year high of $318.01. The stock’s 50-day moving average is $304.92 and its 200 day moving average is $284.48. The company has a market cap of $856.48 billion, a P/E ratio of 15.43, a PEG ratio of 1.84 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.

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, beating analysts’ consensus estimates of $4.83 by $0.24. The company had revenue of $46.43 billion for the quarter, compared to the consensus estimate of $44.42 billion. JPMorgan Chase & Co. had a return on equity of 17.18% and a net margin of 20.90%.The firm’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter last year, the company earned $4.37 earnings per share. Research analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Monday, October 6th were issued a $1.50 dividend. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. This represents a $6.00 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Monday, October 6th. JPMorgan Chase & Co.’s dividend payout ratio is 29.72%.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. HSBC restated a “reduce” rating and set a $259.00 price target on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 8th. Morgan Stanley raised their price target on JPMorgan Chase & Co. from $336.00 to $338.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 15th. Loop Capital set a $310.00 price target on JPMorgan Chase & Co. in a research note on Thursday, October 23rd. Piper Sandler reaffirmed an “overweight” rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 15th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $366.00 price objective on shares of JPMorgan Chase & Co. in a research report on Tuesday, October 14th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $322.27.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the firm’s stock in a transaction dated 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 sale, the director owned 82,207 shares of the company’s stock, valued at approximately $24,492,753.58. This trade represents a 10.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.47% of the company’s stock.

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.