Bridgewealth Advisory Group LLC Acquires New Shares in JPMorgan Chase & Co. $JPM

Bridgewealth Advisory Group LLC bought a new stake in JPMorgan Chase & Co. (NYSE:JPM) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 5,879 shares of the financial services provider’s stock, valued at approximately $1,704,000.

Other large investors also recently modified their holdings of the company. JFS Wealth Advisors LLC lifted its stake in JPMorgan Chase & Co. by 0.4% in the second quarter. JFS Wealth Advisors LLC now owns 7,897 shares of the financial services provider’s stock valued at $2,290,000 after buying an additional 35 shares in the last quarter. Cottonwood Capital Advisors LLC raised its holdings in shares of JPMorgan Chase & Co. by 0.9% during the second quarter. Cottonwood Capital Advisors LLC now owns 3,837 shares of the financial services provider’s stock worth $1,112,000 after acquiring an additional 35 shares during the period. Coign Capital Advisors LLC raised its holdings in shares of JPMorgan Chase & Co. by 1.2% during the second quarter. Coign Capital Advisors LLC now owns 2,854 shares of the financial services provider’s stock worth $827,000 after acquiring an additional 35 shares during the period. LCM Capital Management Inc lifted its position in JPMorgan Chase & Co. by 0.9% in the 2nd quarter. LCM Capital Management Inc now owns 3,847 shares of the financial services provider’s stock valued at $1,115,000 after acquiring an additional 36 shares in the last quarter. Finally, jvl associates llc lifted its position in JPMorgan Chase & Co. by 1.7% in the 2nd quarter. jvl associates llc now owns 2,094 shares of the financial services provider’s stock valued at $607,000 after acquiring an additional 36 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on JPM shares. Evercore ISI upped their price objective 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. Wells Fargo & Company boosted their target price on JPMorgan Chase & Co. from $345.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday, November 3rd. Piper Sandler reaffirmed an “overweight” rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 15th. DZ Bank reaffirmed a “neutral” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, October 15th. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $366.00 price objective on shares of JPMorgan Chase & Co. in a report on Tuesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, JPMorgan Chase & Co. presently has an average rating of “Moderate Buy” and a consensus price target of $326.38.

JPMorgan Chase & Co. Stock Up 0.8%

JPM stock opened at $316.69 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 capitalization of $862.11 billion, a PE ratio of 15.69, a PEG ratio of 1.84 and a beta of 1.14. JPMorgan Chase & Co. has a 1-year low of $202.16 and a 1-year high of $319.56. The business’s 50 day simple moving average is $306.48 and its 200 day simple moving average is $288.11.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data 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 net margin of 20.90% and a return on equity of 17.18%. The firm 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 business posted $4.37 earnings per share. The company’s revenue for the quarter was up 8.8% compared to the same quarter last year. As a group, research analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

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

Insider Activity

In other news, insider Robin Leopold sold 966 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The stock was 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 in the company, valued at $18,240,769.68. The trade was a 1.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Linda Bammann sold 9,500 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the director directly owned 82,207 shares in the company, valued at $24,492,753.58. The trade was a 10.36% decrease in their position. The SEC filing for this sale provides additional information. 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.