Naples Global Advisors LLC Boosts Holdings in JPMorgan Chase & Co. $JPM

Naples Global Advisors LLC boosted its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 1.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 66,950 shares of the financial services provider’s stock after acquiring an additional 1,066 shares during the quarter. JPMorgan Chase & Co. accounts for about 1.7% of Naples Global Advisors LLC’s investment portfolio, making the stock its 8th biggest position. Naples Global Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $19,410,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in JPM. MJT & Associates Financial Advisory Group Inc. bought a new stake in JPMorgan Chase & Co. in the first quarter valued at about $28,000. University of Illinois Foundation bought a new stake in JPMorgan Chase & Co. in the first quarter valued at about $30,000. Ryan Investment Management Inc. bought a new stake in JPMorgan Chase & Co. in the second quarter valued at about $37,000. Christopher J. Hasenberg Inc increased its stake in JPMorgan Chase & Co. by 212.0% in the second quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 106 shares during the period. Finally, Goodman Advisory Group LLC bought a new stake in JPMorgan Chase & Co. in the first quarter valued at about $76,000. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Down 1.1%

Shares of JPM stock opened at $304.31 on Thursday. The firm has a fifty day moving average of $301.19 and a 200-day moving average of $275.87. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.25. JPMorgan Chase & Co. has a 12-month low of $202.16 and a 12-month high of $318.01. The company has a market capitalization of $836.78 billion, a price-to-earnings ratio of 15.61, a P/E/G ratio of 1.99 and a beta of 1.13.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data 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 company had revenue of $44.91 billion during the quarter, compared to the consensus estimate of $43.76 billion. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The firm’s revenue was down 10.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $6.12 earnings per share. As a group, equities research analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently announced 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. The ex-dividend date is Monday, October 6th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.0%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. JPMorgan Chase & Co.’s dividend payout ratio is 30.79%.

Insider Activity

In other news, Director Linda Bammann sold 9,500 shares of the firm’s stock in a transaction dated 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 completion of the sale, the director owned 82,207 shares in the company, valued at approximately $24,492,753.58. This trade represents a 10.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on JPM. Zacks Research cut shares of JPMorgan Chase & Co. from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 8th. Evercore ISI upped their price objective on shares of JPMorgan Chase & Co. from $309.00 to $330.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 30th. Truist Financial upped their price objective on shares of JPMorgan Chase & Co. from $290.00 to $319.00 and gave the stock a “hold” rating in a research note on Tuesday, September 23rd. Deutsche Bank Aktiengesellschaft upped their price objective on shares of JPMorgan Chase & Co. from $300.00 to $320.00 and gave the stock a “hold” rating in a research note on Tuesday, September 30th. Finally, Hsbc Global Res cut shares of JPMorgan Chase & Co. from a “hold” rating to a “moderate sell” rating in a research note on Tuesday, July 8th. Fifteen equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. has an average rating of “Hold” and a consensus target price of $309.95.

JPMorgan Chase & Co. Profile

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.