Creative Planning Has $395.70 Million Stock Position in JPMorgan Chase & Co. $JPM

Creative Planning boosted its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 2.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,364,887 shares of the financial services provider’s stock after purchasing an additional 29,844 shares during the period. Creative Planning’s holdings in JPMorgan Chase & Co. were worth $395,695,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Brighton Jones LLC lifted its holdings in shares of JPMorgan Chase & Co. by 11.0% in the fourth quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider’s stock worth $11,682,000 after acquiring an additional 4,841 shares during the last quarter. Acorns Advisers LLC increased its position in JPMorgan Chase & Co. by 6.9% during the 1st quarter. Acorns Advisers LLC now owns 1,547 shares of the financial services provider’s stock worth $379,000 after purchasing an additional 100 shares in the last quarter. J.W. Cole Advisors Inc. lifted its stake in JPMorgan Chase & Co. by 62.7% in the 1st quarter. J.W. Cole Advisors Inc. now owns 93,952 shares of the financial services provider’s stock valued at $23,046,000 after purchasing an additional 36,212 shares during the last quarter. Teachers Retirement System of The State of Kentucky grew its stake in shares of JPMorgan Chase & Co. by 0.6% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 460,170 shares of the financial services provider’s stock worth $112,879,000 after buying an additional 2,867 shares during the last quarter. Finally, Blue Bell Private Wealth Management LLC grew its stake in shares of JPMorgan Chase & Co. by 7.2% during the first quarter. Blue Bell Private Wealth Management LLC now owns 2,781 shares of the financial services provider’s stock worth $682,000 after buying an additional 187 shares during the last quarter. Institutional investors own 71.55% of the company’s stock.

Wall Street Analyst Weigh In

JPM has been the subject of a number of research reports. TD Cowen increased their price target on JPMorgan Chase & Co. from $350.00 to $370.00 and gave the company a “buy” rating in a research note on Friday, October 3rd. Truist Financial increased their target price on JPMorgan Chase & Co. from $290.00 to $319.00 and gave the company a “hold” rating in a research report on Tuesday, September 23rd. 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. Evercore ISI upped their price objective on JPMorgan Chase & Co. from $309.00 to $330.00 and gave the company an “outperform” rating in a research note on Tuesday, September 30th. Finally, Weiss Ratings reiterated a “buy (b+)” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday. Fifteen analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, JPMorgan Chase & Co. currently has an average rating of “Hold” and an average target price of $326.38.

JPMorgan Chase & Co. Price Performance

JPMorgan Chase & Co. stock opened at $297.82 on Monday. The stock’s 50 day moving average is $307.43 and its 200 day moving average is $291.79. 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 cap of $810.74 billion, a P/E ratio of 14.75, a P/E/G ratio of 1.84 and a beta of 1.14. JPMorgan Chase & Co. has a one year low of $202.16 and a one year high of $322.25.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results 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. JPMorgan Chase & Co. had a net margin of 20.90% and a return on equity of 17.18%. The business had revenue of $47.12 billion during the quarter, compared to the consensus estimate of $44.42 billion. During the same quarter in the prior year, the firm posted $4.37 EPS. The company’s revenue for the quarter was up 8.8% compared to the same quarter last year. As a group, research analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Monday, October 6th were given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 2.0%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. The ex-dividend date was Monday, October 6th. JPMorgan Chase & Co.’s dividend payout ratio is currently 29.72%.

Insiders Place Their Bets

In other news, insider Robin Leopold sold 966 shares of JPMorgan Chase & Co. stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $311.92, for a total value of $301,314.72. Following the completion of the transaction, the insider directly 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Linda Bammann sold 9,500 shares of the business’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 completion of the transaction, the director directly owned 82,207 shares in the company, valued at $24,492,753.58. This represents a 10.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.47% of the stock is owned by company 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.