Brightwater Advisory LLC Purchases Shares of 2,399 JPMorgan Chase & Co. (NYSE:JPM)

Brightwater Advisory LLC purchased a new stake in shares of JPMorgan Chase & Co. (NYSE:JPM) in the second quarter, according to the company in its most recent filing with the SEC. The fund purchased 2,399 shares of the financial services provider’s stock, valued at approximately $485,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Retirement Group LLC raised its holdings in shares of JPMorgan Chase & Co. by 227.1% in the first quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 109 shares during the last quarter. Fairway Wealth LLC purchased a new stake in JPMorgan Chase & Co. in the 2nd quarter valued at about $32,000. Richardson Capital Management LLC bought a new position in shares of JPMorgan Chase & Co. during the 1st quarter worth approximately $34,000. Anfield Capital Management LLC bought a new position in shares of JPMorgan Chase & Co. during the 2nd quarter worth approximately $34,000. Finally, Davidson Capital Management Inc. bought a new position in shares of JPMorgan Chase & Co. in the first quarter valued at approximately $37,000. 71.55% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

JPM has been the topic of several research analyst reports. Oppenheimer boosted their price objective on JPMorgan Chase & Co. from $215.00 to $221.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. Wolfe Research cut shares of JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research note on Monday, July 8th. Citigroup increased their target price on shares of JPMorgan Chase & Co. from $205.00 to $215.00 and gave the company a “neutral” rating in a research report on Monday, July 15th. Piper Sandler raised their target price 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. Finally, BMO Capital Markets lifted their price objective on JPMorgan Chase & Co. from $195.00 to $205.00 and gave the stock a “market perform” rating in a report on Thursday, July 11th. Nine investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $211.31.

JPMorgan Chase & Co. Trading Down 1.8 %

Shares of JPMorgan Chase & Co. stock opened at $207.04 on Wednesday. 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 1 year low of $135.19 and a 1 year high of $225.48. The firm has a market cap of $594.55 billion, a PE ratio of 11.55, a PEG ratio of 2.39 and a beta of 1.12. The company has a 50 day simple moving average of $211.42 and a two-hundred day simple moving average of $202.85.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data 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. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. The firm had revenue of $50.80 billion during the quarter, compared to the consensus estimate of $42.23 billion. During the same quarter in the previous year, the company posted $4.37 earnings per share. Analysts expect that JPMorgan Chase & Co. will post 16.72 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 4th will be issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date of this dividend is Friday, October 4th. 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 27.89%.

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.