Bruce G. Allen Investments LLC Increases Position in JPMorgan Chase & Co. $JPM

Bruce G. Allen Investments LLC raised its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 2.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,438 shares of the financial services provider’s stock after purchasing an additional 56 shares during the period. JPMorgan Chase & Co. comprises 0.5% of Bruce G. Allen Investments LLC’s holdings, making the stock its 21st largest position. Bruce G. Allen Investments LLC’s holdings in JPMorgan Chase & Co. were worth $707,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. GAMMA Investing LLC lifted its stake in JPMorgan Chase & Co. by 25,861.9% in the 1st quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider’s stock valued at $5,778,289,000 after buying an additional 23,465,278 shares in the last quarter. Nuveen LLC purchased a new stake in JPMorgan Chase & Co. during the 1st quarter worth approximately $3,972,807,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of JPMorgan Chase & Co. during the fourth quarter valued at approximately $454,042,000. National Bank of Canada FI lifted its position in shares of JPMorgan Chase & Co. by 44.4% in the first quarter. National Bank of Canada FI now owns 4,518,740 shares of the financial services provider’s stock valued at $1,108,415,000 after acquiring an additional 1,388,992 shares in the last quarter. Finally, Strs Ohio acquired a new stake in shares of JPMorgan Chase & Co. in the first quarter worth approximately $279,389,000. 71.55% of the stock is owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Stock Performance

Shares of JPM opened at $313.27 on Friday. The company’s 50 day simple moving average is $295.88 and its 200-day simple moving average is $268.71. The firm has a market cap of $861.41 billion, a PE ratio of 16.07, a price-to-earnings-growth ratio of 2.07 and a beta of 1.13. JPMorgan Chase & Co. has a 12-month low of $202.16 and a 12-month high of $313.44. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.25.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.48 by $0.48. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.The firm had revenue of $44.91 billion for the quarter, compared to analyst estimates of $43.76 billion. During the same quarter last year, the company posted $6.12 earnings per share. The business’s revenue was down 10.5% on a year-over-year basis. As a group, equities analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, October 6th will be issued a dividend of $1.50 per share. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. This represents a $6.00 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Monday, October 6th. JPMorgan Chase & Co.’s dividend payout ratio is currently 28.73%.

Insider Transactions at JPMorgan Chase & Co.

In other news, Director Linda Bammann sold 9,500 shares of the company’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the transaction, the director directly owned 82,207 shares of the company’s stock, valued at $24,492,753.58. This represents a 10.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on JPM. Keefe, Bruyette & Woods increased their target price on shares of JPMorgan Chase & Co. from $327.00 to $330.00 and gave the company an “outperform” rating in a research report on Wednesday, July 16th. Citigroup set a $275.00 price objective on shares of JPMorgan Chase & Co. and gave the company a “buy” rating in a report on Monday, July 7th. Robert W. Baird cut JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $235.00 target price on the stock. in a report on Friday, June 27th. Baird R W cut JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a report on Friday, June 27th. Finally, Truist Financial lifted their price objective on JPMorgan Chase & Co. from $280.00 to $290.00 and gave the stock a “hold” rating in a research report on Wednesday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $292.78.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.