Summitry LLC Boosts Stake in JPMorgan Chase & Co. $JPM

Summitry LLC raised its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 6.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,029 shares of the financial services provider’s stock after acquiring an additional 190 shares during the quarter. Summitry LLC’s holdings in JPMorgan Chase & Co. were worth $878,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Harbor Asset Planning Inc. bought a new stake in JPMorgan Chase & Co. during the second quarter valued at about $26,000. MJT & Associates Financial Advisory Group Inc. purchased a new stake in shares of JPMorgan Chase & Co. during the first quarter valued at about $28,000. University of Illinois Foundation purchased a new stake in shares of JPMorgan Chase & Co. during the first quarter valued at about $30,000. Ryan Investment Management Inc. bought a new stake in shares of JPMorgan Chase & Co. in the 2nd quarter valued at about $37,000. Finally, Christopher J. Hasenberg Inc boosted its holdings in shares of JPMorgan Chase & Co. by 212.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider’s stock valued at $45,000 after buying an additional 106 shares in the last quarter. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Trading Down 0.0%

NYSE:JPM opened at $297.93 on Tuesday. JPMorgan Chase & Co. has a 12 month low of $202.16 and a 12 month high of $322.25. The firm has a fifty day simple moving average of $307.20 and a 200-day simple moving average of $292.10. The company has a current ratio of 0.86, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. The company has a market capitalization of $811.04 billion, a P/E ratio of 14.76, a PEG ratio of 1.84 and a beta of 1.14.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.83 by $0.24. The firm had revenue of $47.12 billion for the quarter, compared to the consensus estimate of $44.42 billion. JPMorgan Chase & Co. had a return on equity of 17.18% and a net margin of 20.90%.The firm’s revenue was up 8.8% on a year-over-year basis. During the same period in the prior year, the firm earned $4.37 EPS. On average, equities research analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Monday, October 6th were paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 2.0%. The ex-dividend date was Monday, October 6th. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 29.72%.

Insider Transactions at JPMorgan Chase & Co.

In other news, insider Robin Leopold sold 966 shares of the firm’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $311.92, for a total value of $301,314.72. Following the completion of the transaction, the insider directly owned 58,479 shares in the company, valued at $18,240,769.68. This trade represents a 1.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction dated 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 directly owned 82,207 shares of the company’s stock, valued at $24,492,753.58. This trade represents a 10.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.47% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently commented on JPM. Truist Financial boosted 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. Barclays lifted their price target on shares of JPMorgan Chase & Co. from $330.00 to $342.00 and gave the stock an “overweight” rating in a report on Wednesday, October 15th. Daiwa Capital Markets increased their price objective on JPMorgan Chase & Co. from $330.00 to $332.00 and gave the company an “outperform” rating in a report on Wednesday, October 8th. DZ Bank reissued a “neutral” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, October 15th. Finally, Evercore ISI boosted their target price on JPMorgan Chase & Co. from $309.00 to $330.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 30th. Fifteen analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $326.38.

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.