Connors Investor Services Inc. Raises Stock Holdings in JPMorgan Chase & Co. $JPM

Connors Investor Services Inc. raised its position in JPMorgan Chase & Co. (NYSE:JPMFree Report) by 5.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 72,148 shares of the financial services provider’s stock after purchasing an additional 3,751 shares during the quarter. JPMorgan Chase & Co. accounts for about 1.9% of Connors Investor Services Inc.’s holdings, making the stock its 9th biggest holding. Connors Investor Services Inc.’s holdings in JPMorgan Chase & Co. were worth $22,758,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in JPM. Creative Planning raised its stake in shares of JPMorgan Chase & Co. by 2.2% during the second quarter. Creative Planning now owns 1,364,887 shares of the financial services provider’s stock valued at $395,695,000 after acquiring an additional 29,844 shares during the last quarter. Triangle Securities Wealth Management lifted its holdings in shares of JPMorgan Chase & Co. by 14.1% during the third quarter. Triangle Securities Wealth Management now owns 25,822 shares of the financial services provider’s stock worth $8,145,000 after purchasing an additional 3,191 shares during the period. Andra AP fonden grew its stake in shares of JPMorgan Chase & Co. by 3.2% in the third quarter. Andra AP fonden now owns 107,700 shares of the financial services provider’s stock worth $33,972,000 after purchasing an additional 3,300 shares during the last quarter. Banco Santander S.A. grew its stake in shares of JPMorgan Chase & Co. by 9.0% in the third quarter. Banco Santander S.A. now owns 452,612 shares of the financial services provider’s stock worth $142,767,000 after purchasing an additional 37,550 shares during the last quarter. Finally, Brighton Jones LLC increased its holdings in 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 valued at $11,682,000 after purchasing an additional 4,841 shares during the period. 71.55% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently issued reports on JPM shares. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $330.00 target price on shares of JPMorgan Chase & Co. in a research report on Wednesday, January 14th. CICC Research started coverage on JPMorgan Chase & Co. in a research note on Wednesday, January 14th. They issued an “outperform” rating and a $355.00 price target for the company. Zacks Research upgraded JPMorgan Chase & Co. from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 10th. Truist Financial cut their price objective on JPMorgan Chase & Co. from $334.00 to $330.00 in a research note on Wednesday, February 25th. Finally, Wells Fargo & Company reduced their target price on JPMorgan Chase & Co. from $360.00 to $350.00 and set an “overweight” rating on the stock in a report on Tuesday, February 17th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat, JPMorgan Chase & Co. has a consensus rating of “Moderate Buy” and an average price target of $340.00.

View Our Latest Report on JPM

Key JPMorgan Chase & Co. News

Here are the key news stories impacting JPMorgan Chase & Co. this week:

JPMorgan Chase & Co. Stock Up 0.1%

Shares of JPMorgan Chase & Co. stock opened at $287.91 on Friday. JPMorgan Chase & Co. has a one year low of $202.16 and a one year high of $337.25. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.85 and a quick ratio of 0.85. The stock’s 50-day moving average is $303.18 and its 200 day moving average is $307.94. The firm has a market cap of $776.50 billion, a price-to-earnings ratio of 14.39, a PEG ratio of 1.19 and a beta of 1.06.

JPMorgan Chase & Co. (NYSE:JPMGet Free Report) last released its earnings results on Tuesday, January 13th. The financial services provider reported $5.23 EPS for the quarter, topping the consensus estimate of $4.93 by $0.30. The business had revenue of $45.80 billion during the quarter, compared to analysts’ expectations of $45.98 billion. JPMorgan Chase & Co. had a return on equity of 17.16% and a net margin of 20.35%.The firm’s revenue was up 7.1% on a year-over-year basis. During the same quarter last year, the firm posted $4.81 earnings per share. Equities research analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Monday, April 6th will be given a dividend of $1.50 per share. The ex-dividend date of this dividend is Monday, April 6th. This represents a $6.00 annualized dividend and a dividend yield of 2.1%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 29.99%.

Insider Activity at JPMorgan Chase & Co.

In other news, CFO Jeremy Barnum sold 2,892 shares of JPMorgan Chase & Co. stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $306.42, for a total value of $886,166.64. Following the completion of the sale, the chief financial officer owned 23,804 shares in the company, valued at $7,294,021.68. The trade was a 10.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Robin Leopold sold 432 shares of the business’s stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $307.14, for a total transaction of $132,684.48. Following the transaction, the insider owned 65,353 shares in the company, valued at $20,072,520.42. The trade was a 0.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 71,596 shares of company stock worth $22,067,932. Corporate insiders own 0.47% of the company’s stock.

About JPMorgan Chase & Co.

(Free Report)

JPMorgan Chase & Co (NYSE: JPM) is a diversified global financial services firm headquartered in New York City. The company provides a wide range of banking and financial products and services to consumers, small businesses, corporations, governments and institutional investors worldwide. Its operations span retail banking, commercial lending, investment banking, asset management, payments and card services, and treasury and securities services.

The firm’s principal business activities are organized across several core lines: Consumer & Community Banking, which offers deposit accounts, mortgages, auto loans, credit cards and branch and digital banking under the Chase brand; Corporate & Investment Banking, which provides capital markets, advisory, underwriting, trading and risk management services; Commercial Banking, delivering lending, treasury and capital solutions to middle-market and corporate clients; and Asset & Wealth Management, which offers investment management, private banking and retirement services to institutions and high-net-worth individuals.

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Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

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