McGowan Group Asset Management Inc. Has $453,000 Holdings in JPMorgan Chase & Co. (NYSE:JPM)

McGowan Group Asset Management Inc. grew its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 36.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,112 shares of the financial services provider’s stock after acquiring an additional 836 shares during the period. McGowan Group Asset Management Inc.’s holdings in JPMorgan Chase & Co. were worth $453,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. JSF Financial LLC lifted its position in JPMorgan Chase & Co. by 0.6% during the 2nd quarter. JSF Financial LLC now owns 10,680 shares of the financial services provider’s stock valued at $1,553,000 after acquiring an additional 65 shares during the period. Red Wave Investments LLC lifted its position in JPMorgan Chase & Co. by 1.4% during the 2nd quarter. Red Wave Investments LLC now owns 4,719 shares of the financial services provider’s stock valued at $686,000 after acquiring an additional 65 shares during the period. Riverview Capital Advisers LLC lifted its position in JPMorgan Chase & Co. by 4.2% during the 2nd quarter. Riverview Capital Advisers LLC now owns 1,654 shares of the financial services provider’s stock valued at $241,000 after acquiring an additional 66 shares during the period. Keystone Wealth Services LLC lifted its position in JPMorgan Chase & Co. by 1.6% during the 2nd quarter. Keystone Wealth Services LLC now owns 4,129 shares of the financial services provider’s stock valued at $601,000 after acquiring an additional 67 shares during the period. Finally, Carmel Capital Partners LLC lifted its position in JPMorgan Chase & Co. by 2.8% during the 2nd quarter. Carmel Capital Partners LLC now owns 2,434 shares of the financial services provider’s stock valued at $354,000 after acquiring an additional 67 shares during the period. 68.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at JPMorgan Chase & Co.

In other news, General Counsel Stacey Friedman sold 4,310 shares of the business’s stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $144.86, for a total value of $624,346.60. Following the transaction, the general counsel now owns 53,425 shares of the company’s stock, valued at $7,739,145.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

JPM opened at $153.29 on Tuesday. The firm has a market cap 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. has a 1-year low of $123.11 and a 1-year high of $159.38. The company has a 50 day simple moving average of $145.23 and a two-hundred day simple moving average of $145.34. 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. (NYSE:JPM) last posted its quarterly earnings results on Friday, October 13th. The financial services provider reported $4.33 earnings per share for the quarter, topping analysts’ consensus estimates of $3.95 by $0.38. The business had revenue of $40.69 billion during the quarter, compared to analyst estimates of $39.63 billion. JPMorgan Chase & Co. had a net margin of 22.79% and a return on equity of 17.97%. The company’s revenue was up 24.4% on a year-over-year basis. During the same period in the prior year, the business posted $3.12 earnings per share. Equities analysts forecast that JPMorgan Chase & Co. will post 16.67 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 31st. Shareholders of record on Friday, October 6th were given a $1.05 dividend. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.00. This represents a $4.20 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date was Thursday, October 5th. JPMorgan Chase & Co.’s dividend payout ratio is presently 25.07%.

Analysts Set New Price Targets

Several brokerages have issued reports on JPM. Morgan Stanley lifted their target price on shares of JPMorgan Chase & Co. from $187.00 to $191.00 and gave the stock an “overweight” rating in a report on Monday, October 16th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $158.00 target price on shares of JPMorgan Chase & Co. in a report on Friday, September 8th. HSBC began coverage on shares of JPMorgan Chase & Co. in a report on Thursday, September 7th. They issued a “hold” rating and a $159.00 target price for the company. BMO Capital Markets lifted their target price on shares of JPMorgan Chase & Co. from $167.00 to $171.00 and gave the stock a “market perform” rating in a report on Monday, October 16th. Finally, Piper Sandler lifted their price target 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. Nine equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, JPMorgan Chase & Co. currently has an average rating of “Moderate Buy” and an average target price of $168.80.

JPMorgan Chase & Co. Company 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.