JPMorgan Chase & Co. (NYSE:JPM) is Great Lakes Advisors LLC’s 3rd Largest Position

Great Lakes Advisors LLC lessened its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 9.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,145,647 shares of the financial services provider’s stock after selling 118,604 shares during the period. JPMorgan Chase & Co. makes up about 1.7% of Great Lakes Advisors LLC’s investment portfolio, making the stock its 3rd largest position. Great Lakes Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $166,623,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Stonehage Fleming Financial Services Holdings Ltd grew its position in JPMorgan Chase & Co. by 73.4% in the second quarter. Stonehage Fleming Financial Services Holdings Ltd now owns 9,155 shares of the financial services provider’s stock worth $1,126,000 after acquiring an additional 3,876 shares in the last quarter. Cary Street Partners Investment Advisory LLC boosted its holdings in shares of JPMorgan Chase & Co. by 15.4% in the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 67,591 shares of the financial services provider’s stock worth $9,830,000 after purchasing an additional 9,000 shares during the period. Charter Research & Investment Group Inc. boosted its holdings in shares of JPMorgan Chase & Co. by 3.5% in the 2nd quarter. Charter Research & Investment Group Inc. now owns 2,967 shares of the financial services provider’s stock worth $432,000 after purchasing an additional 100 shares during the period. Corrado Advisors LLC increased its position in shares of JPMorgan Chase & Co. by 1.1% during the 2nd quarter. Corrado Advisors LLC now owns 19,487 shares of the financial services provider’s stock valued at $2,834,000 after purchasing an additional 217 shares during the last quarter. Finally, Ascension Asset Management LLC purchased a new stake in JPMorgan Chase & Co. during the 2nd quarter valued at $1,280,000. Hedge funds and other institutional investors own 68.94% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

JPM stock opened at $153.29 on Tuesday. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.90 and a quick ratio of 0.90. JPMorgan Chase & Co. has a 1-year low of $123.11 and a 1-year high of $159.38. The business has a 50-day moving average price of $145.23 and a 200 day moving average price of $145.34. The company has a market capitalization of $443.16 billion, a P/E ratio of 9.15, a PEG ratio of 1.80 and a beta of 1.12.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Friday, October 13th. The financial services provider reported $4.33 EPS for the quarter, beating the consensus estimate of $3.95 by $0.38. JPMorgan Chase & Co. had a net margin of 22.79% and a return on equity of 17.97%. The business had revenue of $40.69 billion during the quarter, compared to analyst estimates of $39.63 billion. During the same quarter in the previous year, the business posted $3.12 EPS. The company’s quarterly revenue was up 24.4% compared to the same quarter last year. As a group, equities research analysts forecast 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 given a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a yield of 2.74%. 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 (DPR) is 25.07%.

Wall Street Analysts Forecast Growth

JPM has been the subject of several recent analyst reports. Piper Sandler lifted their price objective on shares of JPMorgan Chase & Co. from $168.00 to $170.00 and gave the stock an “overweight” rating in a research note on Monday, October 16th. BMO Capital Markets upped their price target on shares of JPMorgan Chase & Co. from $167.00 to $171.00 and gave the company a “market perform” rating in a report on Monday, October 16th. Royal Bank of Canada reissued an “outperform” rating and issued a $158.00 price objective on shares of JPMorgan Chase & Co. in a research report on Friday, September 8th. StockNews.com assumed coverage on JPMorgan Chase & Co. in a research report on Thursday, October 5th. They set a “hold” rating for the company. Finally, Oppenheimer increased their price target on JPMorgan Chase & Co. from $233.00 to $243.00 and gave the stock an “outperform” rating in a report on Thursday, November 16th. Nine research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $168.80.

Insider Activity

In related news, General Counsel Stacey Friedman sold 4,310 shares of the company’s 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 completion of the sale, the general counsel now directly owns 53,425 shares in the company, valued at approximately $7,739,145.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Profile

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.