Assetmark Inc. Boosts Holdings in JPMorgan Chase & Co. $JPM

Assetmark Inc. raised its position in JPMorgan Chase & Co. (NYSE:JPM) by 11.5% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 712,279 shares of the financial services provider’s stock after buying an additional 73,417 shares during the quarter. Assetmark Inc.’s holdings in JPMorgan Chase & Co. were worth $206,497,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Florida Financial Advisors LLC raised its stake in JPMorgan Chase & Co. by 62.5% during the first quarter. Florida Financial Advisors LLC now owns 9,863 shares of the financial services provider’s stock worth $2,416,000 after purchasing an additional 3,792 shares during the period. Mosaic Financial Group LLC increased its holdings in shares of JPMorgan Chase & Co. by 0.8% during the 1st quarter. Mosaic Financial Group LLC now owns 9,296 shares of the financial services provider’s stock worth $2,280,000 after buying an additional 78 shares during the last quarter. Morse Asset Management Inc raised its position in shares of JPMorgan Chase & Co. by 19.5% in the 1st quarter. Morse Asset Management Inc now owns 2,569 shares of the financial services provider’s stock worth $630,000 after buying an additional 420 shares during the period. China Universal Asset Management Co. Ltd. boosted its holdings in JPMorgan Chase & Co. by 11.1% in the first quarter. China Universal Asset Management Co. Ltd. now owns 15,648 shares of the financial services provider’s stock valued at $3,838,000 after acquiring an additional 1,561 shares during the last quarter. Finally, Woodward Diversified Capital LLC boosted its holdings in JPMorgan Chase & Co. by 3.4% in the first quarter. Woodward Diversified Capital LLC now owns 8,032 shares of the financial services provider’s stock valued at $1,970,000 after acquiring an additional 263 shares during the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

Analyst Ratings Changes

JPM has been the subject of several research analyst reports. Morgan Stanley upped their price target on JPMorgan Chase & Co. from $336.00 to $338.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 15th. Phillip Securities cut JPMorgan Chase & Co. from a “moderate buy” rating to a “hold” rating in a report on Wednesday, July 16th. KGI Securities raised their price target on shares of JPMorgan Chase & Co. from $300.00 to $315.00 and gave the company a “hold” rating in a report on Wednesday, October 15th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $343.00 price target on shares of JPMorgan Chase & Co. in a research report on Tuesday, October 14th. Finally, Piper Sandler reiterated an “overweight” rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 15th. 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $326.38.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock opened at $314.30 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 $864.26 billion, a P/E ratio of 15.57, a P/E/G ratio of 1.84 and a beta of 1.14. The company’s fifty day moving average price is $306.18 and its two-hundred day moving average price is $287.28.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $44.42 billion. During the same period last year, the firm earned $4.37 earnings per share. The company’s revenue was up 8.8% on a year-over-year basis. 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 firm also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Monday, October 6th were paid a dividend of $1.50 per share. 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 yield of 1.9%. JPMorgan Chase & Co.’s payout ratio is 29.72%.

Insider Activity at JPMorgan Chase & Co.

In other news, insider Robin Leopold sold 966 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $311.92, for a total transaction of $301,314.72. Following the completion of the sale, the insider owned 58,479 shares of the company’s stock, valued at approximately $18,240,769.68. This trade represents a 1.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $297.94, for a total transaction 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 position. The disclosure for this sale is available in the SEC filing. 0.47% of the stock is owned by insiders.

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.