Abundance Wealth Counselors Has $2.89 Million Stake in JPMorgan Chase & Co. (NYSE:JPM)

Abundance Wealth Counselors lowered its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 9.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,310 shares of the financial services provider’s stock after selling 1,547 shares during the quarter. JPMorgan Chase & Co. comprises approximately 1.3% of Abundance Wealth Counselors’ investment portfolio, making the stock its 12th biggest position. Abundance Wealth Counselors’ holdings in JPMorgan Chase & Co. were worth $2,894,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Stone House Investment Management LLC boosted its position in shares of JPMorgan Chase & Co. by 132.8% during the 4th quarter. Stone House Investment Management LLC now owns 156 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 89 shares in the last quarter. Retirement Group LLC boosted its holdings in shares of JPMorgan Chase & Co. by 227.1% in the 1st quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 109 shares in the last quarter. Richardson Capital Management LLC bought a new position in shares of JPMorgan Chase & Co. in the 1st quarter valued at $34,000. Davidson Capital Management Inc. acquired a new position in shares of JPMorgan Chase & Co. during the 1st quarter worth $37,000. Finally, Kathleen S. Wright Associates Inc. acquired a new position in shares of JPMorgan Chase & Co. during the 1st quarter worth $40,000. Institutional investors own 71.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on JPM shares. Evercore ISI raised their price objective on JPMorgan Chase & Co. from $210.00 to $211.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. Wells Fargo & Company raised their price target on shares of JPMorgan Chase & Co. from $220.00 to $225.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Piper Sandler upped their price objective on shares of JPMorgan Chase & Co. from $220.00 to $230.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Oppenheimer increased their price objective on shares of JPMorgan Chase & Co. from $215.00 to $221.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. Finally, BMO Capital Markets boosted their target price on shares of JPMorgan Chase & Co. from $195.00 to $205.00 and gave the stock a “market perform” rating in a research note on Thursday, July 11th. Eight analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $205.71.

JPMorgan Chase & Co. Trading Up 0.6 %

JPM traded up $1.33 during trading on Friday, hitting $212.88. The company’s stock had a trading volume of 2,387,016 shares, compared to its average volume of 9,186,022. The firm has a market capitalization of $611.32 billion, a P/E ratio of 11.88, a PEG ratio of 2.42 and a beta of 1.12. JPMorgan Chase & Co. has a twelve month low of $135.19 and a twelve month high of $217.56. The stock’s fifty day moving average price is $204.39 and its 200-day moving average price is $195.14. The company has a quick ratio of 0.92, a current ratio of 0.91 and a debt-to-equity ratio of 1.24.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Friday, July 12th. The financial services provider reported $6.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.19 by $1.93. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. The company had revenue of $50.80 billion for the quarter, compared to the consensus estimate of $42.23 billion. During the same quarter in the previous year, the company earned $4.37 EPS. Analysts anticipate that JPMorgan Chase & Co. will post 16.78 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Friday, July 5th were given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 2.16%. The ex-dividend date was Friday, July 5th. JPMorgan Chase & Co.’s payout ratio is presently 25.66%.

Insider Transactions at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, insider Ashley Bacon sold 5,086 shares of JPMorgan Chase & Co. stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $199.54, for a total transaction of $1,014,860.44. Following the completion of the transaction, the insider now owns 212,265 shares in the company, valued at approximately $42,355,358.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Lori A. Beer sold 5,298 shares of the stock in a transaction on Monday, May 20th. The stock was sold at an average price of $200.64, for a total value of $1,062,990.72. Following the completion of the sale, the insider now directly owns 46,375 shares of the company’s stock, valued at approximately $9,304,680. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Ashley Bacon sold 5,086 shares of the firm’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $199.54, for a total value of $1,014,860.44. Following the transaction, the insider now owns 212,265 shares in the company, valued at $42,355,358.10. The disclosure for this sale can be found here. Insiders sold a total of 14,799 shares of company stock valued at $2,963,721 over the last three months. Corporate insiders own 0.79% of the company’s stock.

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