Parallel Advisors LLC Acquires 1,585 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Parallel Advisors LLC grew its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 1.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 127,356 shares of the financial services provider’s stock after purchasing an additional 1,585 shares during the period. JPMorgan Chase & Co. makes up about 0.7% of Parallel Advisors LLC’s portfolio, making the stock its 22nd biggest position. Parallel Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $25,759,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Capital International Investors raised its stake in JPMorgan Chase & Co. by 1.9% during the first quarter. Capital International Investors now owns 42,294,992 shares of the financial services provider’s stock worth $8,471,687,000 after acquiring an additional 778,297 shares in the last quarter. Norges Bank bought a new stake in shares of JPMorgan Chase & Co. during the 4th quarter valued at approximately $6,016,878,000. Capital World Investors increased its position in JPMorgan Chase & Co. by 0.4% during the 1st quarter. Capital World Investors now owns 34,422,011 shares of the financial services provider’s stock worth $6,894,729,000 after purchasing an additional 150,812 shares in the last quarter. Capital Research Global Investors lifted its stake in JPMorgan Chase & Co. by 23.3% in the 1st quarter. Capital Research Global Investors now owns 17,200,124 shares of the financial services provider’s stock valued at $3,445,185,000 after purchasing an additional 3,252,451 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its position in JPMorgan Chase & Co. by 4.0% in the fourth quarter. Fisher Asset Management LLC now owns 11,836,898 shares of the financial services provider’s stock valued at $2,013,457,000 after buying an additional 450,098 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Down 0.8 %

Shares of JPMorgan Chase & Co. stock opened at $207.60 on Thursday. The firm has a market cap of $596.16 billion, a price-to-earnings ratio of 11.58, a PEG ratio of 2.33 and a beta of 1.12. The stock’s 50-day moving average is $211.43 and its 200 day moving average is $201.40. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.91 and a quick ratio of 0.91. JPMorgan Chase & Co. has a one year low of $135.19 and a one year high of $225.48.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Friday, July 12th. The financial services provider reported $6.12 EPS for the quarter, topping the consensus estimate of $4.19 by $1.93. The company had revenue of $50.80 billion during the quarter, compared to the consensus estimate of $42.23 billion. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. During the same quarter last year, the firm posted $4.37 EPS. Equities research analysts anticipate that JPMorgan Chase & Co. will post 16.78 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 4th will be paid a $1.25 dividend. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 annualized dividend and a yield of 2.41%. The ex-dividend date is Friday, October 4th. JPMorgan Chase & Co.’s payout ratio is 25.66%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on JPM shares. Citigroup upped their price target on shares of JPMorgan Chase & Co. from $205.00 to $215.00 and gave the stock a “neutral” rating in a report on Monday, July 15th. Evercore ISI upped their target price on JPMorgan Chase & Co. from $210.00 to $211.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. Wells Fargo & Company lifted their price target on JPMorgan Chase & Co. from $220.00 to $225.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Piper Sandler upped their price objective on JPMorgan Chase & Co. from $220.00 to $230.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Finally, BMO Capital Markets lifted their target price on shares of JPMorgan Chase & Co. from $195.00 to $205.00 and gave the stock a “market perform” rating in a research report on Thursday, July 11th. Eight research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, JPMorgan Chase & Co. presently has an average rating of “Moderate Buy” and a consensus price target of $211.06.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.