JPMorgan Chase & Co. $JPM Shares Bought by Stokes Capital Advisors LLC

Stokes Capital Advisors LLC grew its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 2.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 47,312 shares of the financial services provider’s stock after purchasing an additional 1,223 shares during the quarter. JPMorgan Chase & Co. makes up about 3.4% of Stokes Capital Advisors LLC’s holdings, making the stock its 4th largest position. Stokes Capital Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $13,716,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. DLK Investment Management LLC boosted its position in shares of JPMorgan Chase & Co. by 2.0% in the 2nd quarter. DLK Investment Management LLC now owns 31,234 shares of the financial services provider’s stock valued at $9,055,000 after purchasing an additional 619 shares during the period. Pines Wealth Management LLC lifted its stake in JPMorgan Chase & Co. by 2.3% in the second quarter. Pines Wealth Management LLC now owns 20,525 shares of the financial services provider’s stock valued at $6,076,000 after buying an additional 454 shares during the last quarter. Sunpointe LLC boosted its holdings in shares of JPMorgan Chase & Co. by 81.1% in the second quarter. Sunpointe LLC now owns 12,116 shares of the financial services provider’s stock valued at $3,513,000 after acquiring an additional 5,427 shares during the period. Towerpoint Wealth LLC grew its position in shares of JPMorgan Chase & Co. by 4.1% during the second quarter. Towerpoint Wealth LLC now owns 1,435 shares of the financial services provider’s stock worth $416,000 after acquiring an additional 56 shares during the last quarter. Finally, Pallas Capital Advisors LLC increased its holdings in shares of JPMorgan Chase & Co. by 0.3% in the 2nd quarter. Pallas Capital Advisors LLC now owns 96,629 shares of the financial services provider’s stock valued at $28,014,000 after acquiring an additional 333 shares during the period. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Stock Up 0.5%

JPMorgan Chase & Co. stock opened at $313.27 on Friday. JPMorgan Chase & Co. has a fifty-two week low of $202.16 and a fifty-two week high of $313.44. The firm has a market capitalization of $861.41 billion, a price-to-earnings ratio of 16.07, a price-to-earnings-growth ratio of 2.07 and a beta of 1.13. The stock’s fifty day moving average is $295.88 and its two-hundred day moving average is $268.71. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.88 and a current ratio of 0.88.

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 the consensus estimate of $4.48 by $0.48. The business had revenue of $44.91 billion during the quarter, compared to the consensus estimate of $43.76 billion. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.The business’s revenue was down 10.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $6.12 EPS. Analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on JPM. Evercore ISI set a $298.00 price target on shares of JPMorgan Chase & Co. and gave the stock an “outperform” rating in a research note on Monday, July 7th. Cowen reiterated a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, July 16th. Zacks Research lowered JPMorgan Chase & Co. from a “strong-buy” rating to a “hold” rating in a report on Monday, September 8th. Piper Sandler reaffirmed an “overweight” rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 15th. Finally, HSBC reaffirmed a “reduce” rating and set a $259.00 price objective on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $292.78.

Insider Activity

In related news, Director Linda Bammann sold 9,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $297.94, for a total value of $2,830,430.00. Following the sale, the director owned 82,207 shares of the company’s stock, valued at approximately $24,492,753.58. This represents a 10.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.47% of the stock is owned by corporate insiders.

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.