Parsons Capital Management Inc. RI Has $40.68 Million Position in JPMorgan Chase & Co. $JPM

Parsons Capital Management Inc. RI decreased its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 41.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 140,314 shares of the financial services provider’s stock after selling 101,128 shares during the period. JPMorgan Chase & Co. makes up 2.5% of Parsons Capital Management Inc. RI’s portfolio, making the stock its 6th biggest holding. Parsons Capital Management Inc. RI’s holdings in JPMorgan Chase & Co. were worth $40,678,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in JPM. Pure Financial Advisors LLC raised its position in JPMorgan Chase & Co. by 147.7% during the second quarter. Pure Financial Advisors LLC now owns 48,068 shares of the financial services provider’s stock valued at $13,936,000 after acquiring an additional 28,662 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its stake in shares of JPMorgan Chase & Co. by 6.4% in the second quarter. Robeco Institutional Asset Management B.V. now owns 3,690,397 shares of the financial services provider’s stock worth $1,069,883,000 after acquiring an additional 221,232 shares during the last quarter. Woodward Diversified Capital LLC boosted its stake in JPMorgan Chase & Co. by 46.3% during the second quarter. Woodward Diversified Capital LLC now owns 11,752 shares of the financial services provider’s stock worth $3,407,000 after buying an additional 3,720 shares in the last quarter. BOCHK Asset Management Ltd boosted its stake in JPMorgan Chase & Co. by 200.0% during the second quarter. BOCHK Asset Management Ltd now owns 3,000 shares of the financial services provider’s stock worth $870,000 after buying an additional 2,000 shares in the last quarter. Finally, Hudson Value Partners LLC boosted its stake in shares of JPMorgan Chase & Co. by 14.4% in the 2nd quarter. Hudson Value Partners LLC now owns 17,557 shares of the financial services provider’s stock valued at $5,090,000 after purchasing an additional 2,210 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock opened at $304.31 on Thursday. The business’s 50-day moving average price is $301.19 and its 200-day moving average price is $275.87. JPMorgan Chase & Co. has a 12 month low of $202.16 and a 12 month high of $318.01. The firm has a market capitalization of $836.78 billion, a price-to-earnings ratio of 15.61, a PEG ratio of 1.99 and a beta of 1.13. 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 announced its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, beating 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 period last year, the firm posted $6.12 earnings per share. The business’s revenue for the quarter was down 10.5% on a year-over-year basis. Equities research analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, October 6th will be given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.0%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. The ex-dividend date is Monday, October 6th. JPMorgan Chase & Co.’s dividend payout ratio is 30.79%.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. 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 completion of the sale, the director directly owned 82,207 shares in the company, valued at approximately $24,492,753.58. The trade was a 10.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.47% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Evercore ISI lifted their price target on JPMorgan Chase & Co. from $309.00 to $330.00 and gave the company an “outperform” rating in a report on Tuesday, September 30th. Truist Financial boosted their price objective on JPMorgan Chase & Co. from $290.00 to $319.00 and gave the company a “hold” rating in a research report on Tuesday, September 23rd. Weiss Ratings reaffirmed a “buy (b+)” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday. Royal Bank Of Canada reiterated a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Thursday, September 11th. Finally, Citigroup increased their price target on JPMorgan Chase & Co. from $275.00 to $325.00 and gave the company a “neutral” rating in a research note on Wednesday, September 24th. Fifteen equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target 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.