Prosperity Consulting Group LLC Increases Stake in JPMorgan Chase & Co. (NYSE:JPM)

Prosperity Consulting Group LLC lifted its stake in JPMorgan Chase & Co. (NYSE:JPM) by 1.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 31,183 shares of the financial services provider’s stock after purchasing an additional 500 shares during the quarter. JPMorgan Chase & Co. comprises about 0.9% of Prosperity Consulting Group LLC’s portfolio, making the stock its 24th largest holding. Prosperity Consulting Group LLC’s holdings in JPMorgan Chase & Co. were worth $6,307,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $6,016,878,000. Swedbank AB acquired a new stake in JPMorgan Chase & Co. in the 1st quarter valued at $800,130,000. Capital Research Global Investors boosted its stake in JPMorgan Chase & Co. by 23.3% during the 1st quarter. Capital Research Global Investors now owns 17,200,124 shares of the financial services provider’s stock worth $3,445,185,000 after purchasing an additional 3,252,451 shares during the last quarter. Capital International Investors raised its holdings in shares of JPMorgan Chase & Co. by 5.4% during the 4th quarter. Capital International Investors now owns 41,516,695 shares of the financial services provider’s stock worth $7,062,094,000 after acquiring an additional 2,128,478 shares during the period. Finally, Public Employees Retirement Association of Colorado raised its holdings in shares of JPMorgan Chase & Co. by 3,836.2% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 1,518,969 shares of the financial services provider’s stock worth $258,377,000 after acquiring an additional 1,480,379 shares during the period. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Trading Down 0.8 %

NYSE:JPM opened at $207.60 on Thursday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a market capitalization of $596.16 billion, a price-to-earnings ratio of 11.58, a PEG ratio of 2.33 and a beta of 1.12. JPMorgan Chase & Co. has a 1 year low of $135.19 and a 1 year high of $225.48. The stock has a fifty day moving average price of $211.43 and a two-hundred day moving average price of $201.40.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Friday, July 12th. The financial services provider reported $6.12 earnings per share for the quarter, beating the consensus estimate of $4.19 by $1.93. The company had revenue of $50.80 billion for the quarter, compared to analyst estimates of $42.23 billion. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. During the same quarter in the prior year, the company earned $4.37 earnings per share. As a group, sell-side analysts anticipate that JPMorgan Chase & Co. will post 16.78 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 4th will be paid a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.41%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 25.66%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on JPM. Keefe, Bruyette & Woods boosted their price objective on shares of JPMorgan Chase & Co. from $209.00 to $211.00 and gave the company a “market perform” rating in a report on Tuesday, July 9th. Piper Sandler boosted their price objective on JPMorgan Chase & Co. from $220.00 to $230.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Wolfe Research downgraded JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a report on Monday, July 8th. Evercore ISI upped their price target on JPMorgan Chase & Co. from $210.00 to $211.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $235.00 price objective on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. Eight equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus 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.