Tranquility Partners LLC Has $1.16 Million Position in JPMorgan Chase & Co. (NYSE:JPM)

Tranquility Partners LLC boosted its position in JPMorgan Chase & Co. (NYSE:JPM) by 18.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,339 shares of the financial services provider’s stock after purchasing an additional 1,906 shares during the period. JPMorgan Chase & Co. accounts for about 1.1% of Tranquility Partners LLC’s portfolio, making the stock its 23rd biggest holding. Tranquility Partners LLC’s holdings in JPMorgan Chase & Co. were worth $1,161,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Capital World Investors increased its holdings in JPMorgan Chase & Co. by 9.9% in the 1st quarter. Capital World Investors now owns 91,033,221 shares of the financial services provider’s stock worth $8,195,754,000 after purchasing an additional 8,187,609 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of JPMorgan Chase & Co. by 1.5% in the first quarter. Geode Capital Management LLC now owns 45,078,060 shares of the financial services provider’s stock valued at $4,050,836,000 after buying an additional 666,292 shares during the period. Morgan Stanley increased its stake in shares of JPMorgan Chase & Co. by 6.4% in the first quarter. Morgan Stanley now owns 37,812,884 shares of the financial services provider’s stock valued at $3,404,295,000 after buying an additional 2,262,845 shares during the period. Bank of New York Mellon Corp increased its stake in shares of JPMorgan Chase & Co. by 0.6% in the first quarter. Bank of New York Mellon Corp now owns 31,592,855 shares of the financial services provider’s stock valued at $2,844,306,000 after buying an additional 175,979 shares during the period. Finally, Legal & General Group Plc increased its stake in shares of JPMorgan Chase & Co. by 2.2% in the first quarter. Legal & General Group Plc now owns 19,233,532 shares of the financial services provider’s stock valued at $1,735,777,000 after buying an additional 409,477 shares during the period. 71.35% of the stock is owned by institutional investors and hedge funds.

JPM stock opened at $96.64 on Friday. JPMorgan Chase & Co. has a twelve month low of $76.91 and a twelve month high of $141.10. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.35. The stock’s 50 day moving average is $96.77 and its 200-day moving average is $105.48. The firm has a market capitalization of $295.62 billion, a PE ratio of 13.04, a P/E/G ratio of 3.25 and a beta of 1.19.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Tuesday, July 14th. The financial services provider reported $1.38 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.34 by $0.04. JPMorgan Chase & Co. had a return on equity of 10.75% and a net margin of 18.16%. The company had revenue of $32.98 billion for the quarter, compared to analyst estimates of $30.23 billion. During the same quarter last year, the company earned $2.82 earnings per share. The company’s revenue for the quarter was up 14.7% on a year-over-year basis. On average, equities research analysts anticipate that JPMorgan Chase & Co. will post 5.96 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Monday, July 6th were issued a $0.90 dividend. The ex-dividend date of this dividend was Thursday, July 2nd. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.73%. JPMorgan Chase & Co.’s dividend payout ratio is presently 34.35%.

JPM has been the subject of several recent research reports. Berenberg Bank increased their price target on JPMorgan Chase & Co. from $77.00 to $80.00 and gave the company a “sell” rating in a research note on Monday, July 20th. TheStreet cut JPMorgan Chase & Co. from a “b-” rating to a “c” rating in a research note on Monday, May 11th. Piper Sandler decreased their price target on JPMorgan Chase & Co. from $149.00 to $115.00 and set an “overweight” rating for the company in a research note on Friday, April 3rd. Wolfe Research upgraded JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $113.00 target price on the stock in a research report on Thursday, July 9th. Finally, Royal Bank of Canada set a $99.00 target price on JPMorgan Chase & Co. and gave the company a “buy” rating in a research report on Tuesday, April 14th. One analyst has rated the stock with a sell rating, nine have given a hold rating and fifteen have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $110.89.

In other news, CEO Mary E. Erdoes sold 24,554 shares of the firm’s stock in a transaction that occurred on Wednesday, July 15th. The stock was sold at an average price of $99.52, for a total value of $2,443,614.08. 0.78% of the stock is owned by company insiders.

About JPMorgan Chase & Co.

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit card, payment processing, auto loan, and leasing services.

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

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