JPMorgan Chase & Co. $JPM Stock Purchased by Leelyn Smith LLC

Leelyn Smith LLC grew its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 14.1% during the third quarter, HoldingsChannel reports. The firm owned 26,120 shares of the financial services provider’s stock after purchasing an additional 3,226 shares during the quarter. JPMorgan Chase & Co. accounts for approximately 1.0% of Leelyn Smith LLC’s holdings, making the stock its 21st biggest position. Leelyn Smith LLC’s holdings in JPMorgan Chase & Co. were worth $8,641,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Allen Investment Management LLC raised its stake in JPMorgan Chase & Co. by 0.5% in the third quarter. Allen Investment Management LLC now owns 156,436 shares of the financial services provider’s stock worth $51,754,000 after buying an additional 781 shares in the last quarter. Formidable Asset Management LLC lifted its holdings in JPMorgan Chase & Co. by 10.9% in the third quarter. Formidable Asset Management LLC now owns 30,565 shares of the financial services provider’s stock worth $10,005,000 after buying an additional 3,010 shares during the period. Pegasus Asset Management Inc. lifted its holdings in JPMorgan Chase & Co. by 1.2% in the third quarter. Pegasus Asset Management Inc. now owns 34,551 shares of the financial services provider’s stock worth $11,431,000 after buying an additional 409 shares during the period. American Institute for Advanced Investment Management LLP lifted its holdings in JPMorgan Chase & Co. by 3.0% in the third quarter. American Institute for Advanced Investment Management LLP now owns 1,725 shares of the financial services provider’s stock worth $571,000 after buying an additional 50 shares during the period. Finally, Parallel Advisors LLC boosted its position in JPMorgan Chase & Co. by 1.9% during the 3rd quarter. Parallel Advisors LLC now owns 139,435 shares of the financial services provider’s stock valued at $46,129,000 after acquiring an additional 2,577 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Up 0.4%

Shares of JPMorgan Chase & Co. stock opened at $343.35 on Thursday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a market capitalization of $911.80 billion, a PE ratio of 14.40, a price-to-earnings-growth ratio of 1.35 and a beta of 1.03. JPMorgan Chase & Co. has a 52-week low of $279.10 and a 52-week high of $366.50. The company has a 50-day simple moving average of $341.06 and a two-hundred day simple moving average of $324.40.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Tuesday, October 13th. The financial services provider reported $5.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.94 by ($0.19). JPMorgan Chase & Co. had a return on equity of 18.48% and a net margin of 21.85%. The firm had revenue of $50.17 billion during the quarter, compared to the consensus estimate of $51.23 billion. During the same quarter in the prior year, the company posted $5.07 EPS. The company’s quarterly revenue was up 8.1% on a year-over-year basis. On average, analysts anticipate that JPMorgan Chase & Co. will post 23.95 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, October 31st. Investors of record on Tuesday, October 6th were issued a $1.65 dividend. This represents a $6.60 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date was Tuesday, October 6th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.50. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 27.68%.

Key JPMorgan Chase & Co. News

These are some of the JPM news items that stood out recently:

• Positive Sentiment: JPMorgan is taking a lead role in Anthropic’s planned IPO, including domestic retail marketing and share allocations. The offering could be a major transaction, giving JPMorgan a chance to earn fees and showcase its investment-banking franchise; CEO Jamie Dimon’s participation also raises the bank’s profile. JPMorgan takes lead role in Anthropic IPO
• Neutral Sentiment: JPMorgan is lead arranger for a $2.85 billion financing package supporting CCC Intelligent Solutions’ buyout. The deal indicates continued lending activity, but the article provides no estimate of fees or likely effect on earnings. CCC Intelligent Solutions financing
• Negative Sentiment: A report says JPMorgan may sell about $2 billion of Qualtrics-related debt at roughly 85 cents on the dollar. If the bank holds the debt and sells at that discount, it could crystallize a loss; the article does not clarify the potential impact on JPMorgan’s results. JPMorgan may sell Qualtrics debt at a discount

Insiders Place Their Bets

In other news, insider Robin Leopold sold 2,500 shares of the business’s stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $352.81, for a total value of $882,025.00. Following the completion of the transaction, the insider owned 71,047 shares in the company, valued at $25,066,092.07. The trade was a 3.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.41% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Robert W. Baird raised their target price on JPMorgan Chase & Co. from $305.00 to $312.00 and gave the company a “neutral” rating in a research note on Wednesday, October 14th. Truist Financial upped their price target on JPMorgan Chase & Co. from $352.00 to $361.00 and gave the stock a “hold” rating in a research note on Wednesday, October 14th. TD Cowen started coverage on JPMorgan Chase & Co. in a report on Thursday, October 8th. They issued a “hold” rating and a $370.00 price objective for the company. Royal Bank Of Canada reiterated an “outperform” rating and issued a $370.00 price objective on shares of JPMorgan Chase & Co. in a report on Wednesday, October 14th. Finally, Wall Street Zen lowered JPMorgan Chase & Co. from a “hold” rating to a “sell” rating in a research report on Saturday, November 7th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and thirteen have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $368.33.

JPMorgan Chase & Co. Profile

JPMorgan Chase & Co. is a global financial services company serving consumers, businesses, institutional clients and governments. Its operations include consumer and community banking, corporate and investment banking, commercial banking, and asset and wealth management. The company offers services such as deposit accounts, credit cards, mortgages, auto financing, lending, payment processing and investment advice. It also provides institutional clients with investment banking, markets, treasury and securities services, and commercial lending.