Parcion Private Wealth LLC Increases Stock Position in JPMorgan Chase & Co. $JPM

Parcion Private Wealth LLC grew its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 41,223 shares of the financial services provider’s stock after buying an additional 339 shares during the period. JPMorgan Chase & Co. accounts for approximately 0.6% of Parcion Private Wealth LLC’s holdings, making the stock its 27th biggest holding. Parcion Private Wealth LLC’s holdings in JPMorgan Chase & Co. were worth $11,951,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Harbor Asset Planning Inc. purchased a new stake in JPMorgan Chase & Co. during the 2nd quarter worth $26,000. MJT & Associates Financial Advisory Group Inc. purchased a new stake in JPMorgan Chase & Co. during the 1st quarter worth $28,000. University of Illinois Foundation purchased a new stake in JPMorgan Chase & Co. during the 1st quarter worth $30,000. Ryan Investment Management Inc. purchased a new stake in JPMorgan Chase & Co. during the 2nd quarter worth $37,000. Finally, Christopher J. Hasenberg Inc boosted its position 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 worth $45,000 after purchasing an additional 106 shares during the period. 71.55% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

JPM has been the subject of a number of research reports. Barclays upped their price target on shares of JPMorgan Chase & Co. from $330.00 to $342.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 15th. Truist Financial upped 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. Citigroup upped their price target on shares of JPMorgan Chase & Co. from $275.00 to $325.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 24th. Cowen reaffirmed a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, July 16th. Finally, KGI Securities upped their price target on shares of JPMorgan Chase & Co. from $300.00 to $315.00 and gave the stock a “hold” rating in a research report on Wednesday, October 15th. Two equities 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 issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $322.27.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock opened at $311.47 on Friday. JPMorgan Chase & Co. has a 12 month low of $202.16 and a 12 month high of $318.01. 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 firm has a market capitalization of $856.48 billion, a P/E ratio of 15.43, a P/E/G ratio of 1.84 and a beta of 1.13. The company’s fifty day moving average price is $304.92 and its two-hundred day moving average price is $284.48.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.83 by $0.24. The business had revenue of $46.43 billion for the quarter, compared to analyst estimates of $44.42 billion. JPMorgan Chase & Co. had a net margin of 20.90% and a return on equity of 17.18%. The company’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $4.37 EPS. On average, research analysts anticipate 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 announced a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Monday, October 6th were paid a $1.50 dividend. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. The ex-dividend date was Monday, October 6th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.9%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 29.72%.

Insider Activity

In other news, Director Linda Bammann sold 9,500 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The shares were 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 in the company, valued at approximately $24,492,753.58. This represents a 10.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.47% of the company’s stock.

JPMorgan Chase & Co. 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.