Jupiter Asset Management Ltd. Boosts Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Jupiter Asset Management Ltd. boosted its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 233.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 286,404 shares of the financial services provider’s stock after buying an additional 200,519 shares during the quarter. Jupiter Asset Management Ltd.’s holdings in JPMorgan Chase & Co. were worth $41,637,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. National Wealth Management Group LLC purchased a new position in shares of JPMorgan Chase & Co. during the second quarter worth about $530,000. Ledyard National Bank grew its holdings in shares of JPMorgan Chase & Co. by 0.3% during the second quarter. Ledyard National Bank now owns 93,940 shares of the financial services provider’s stock worth $13,663,000 after purchasing an additional 323 shares during the last quarter. Nicholas Investment Partners LP grew its holdings in shares of JPMorgan Chase & Co. by 24.0% during the second quarter. Nicholas Investment Partners LP now owns 31,897 shares of the financial services provider’s stock worth $4,639,000 after purchasing an additional 6,174 shares during the last quarter. Private Advisor Group LLC grew its holdings in shares of JPMorgan Chase & Co. by 3.4% during the second quarter. Private Advisor Group LLC now owns 333,765 shares of the financial services provider’s stock worth $49,351,000 after purchasing an additional 10,829 shares during the last quarter. Finally, EagleClaw Capital Managment LLC grew its holdings in shares of JPMorgan Chase & Co. by 0.9% during the second quarter. EagleClaw Capital Managment LLC now owns 55,735 shares of the financial services provider’s stock worth $8,106,000 after purchasing an additional 508 shares during the last quarter. Hedge funds and other institutional investors own 68.94% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

JPM opened at $152.82 on Monday. The stock has a market cap of $441.80 billion, a P/E ratio of 9.12, a P/E/G ratio of 1.80 and a beta of 1.12. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.90 and a quick ratio of 0.90. The stock’s 50 day simple moving average is $145.05 and its 200 day simple moving average is $145.20. JPMorgan Chase & Co. has a 1-year low of $123.11 and a 1-year high of $159.38.

JPMorgan Chase & Co. (NYSE:JPMGet Free Report) last announced its earnings results on Friday, October 13th. The financial services provider reported $4.33 EPS for the quarter, beating analysts’ consensus estimates of $3.95 by $0.38. The firm had revenue of $40.69 billion for the quarter, compared to analysts’ expectations of $39.63 billion. JPMorgan Chase & Co. had a return on equity of 17.97% and a net margin of 22.79%. JPMorgan Chase & Co.’s quarterly revenue was up 24.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.12 EPS. As a group, equities analysts anticipate that JPMorgan Chase & Co. will post 16.67 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 31st. Shareholders of record on Friday, October 6th were issued a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date was Thursday, October 5th. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.00. JPMorgan Chase & Co.’s dividend payout ratio is 25.07%.

Wall Street Analysts Forecast Growth

Several research firms have commented on JPM. Oppenheimer upped their price objective on JPMorgan Chase & Co. from $233.00 to $243.00 and gave the company an “outperform” rating in a research note on Thursday. Jefferies Financial Group reduced their price objective on JPMorgan Chase & Co. from $176.00 to $169.00 in a research note on Tuesday, October 10th. HSBC began coverage on JPMorgan Chase & Co. in a research note on Thursday, September 7th. They set a “hold” rating and a $159.00 price objective for the company. Piper Sandler upped their price objective on JPMorgan Chase & Co. from $168.00 to $170.00 and gave the company an “overweight” rating in a research note on Monday, October 16th. Finally, BMO Capital Markets upped their price objective on JPMorgan Chase & Co. from $167.00 to $171.00 and gave the company a “market perform” rating in a research note on Monday, October 16th. Nine investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, JPMorgan Chase & Co. currently has an average rating of “Moderate Buy” and a consensus price target of $168.80.

View Our Latest Report on JPM

Insider Buying and Selling at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 4,310 shares of the stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $144.86, for a total transaction of $624,346.60. Following the sale, the general counsel now owns 53,425 shares in the company, valued at approximately $7,739,145.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.79% of the stock is owned by insiders.

JPMorgan Chase & Co. Profile

(Free Report)

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, investment and lending products, cash management, and payments and services to consumers and small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services.

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

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