Wallace Advisory Group LLC Decreases Stake in JPMorgan Chase & Co. (NYSE:JPM)

Wallace Advisory Group LLC lowered its stake in JPMorgan Chase & Co. (NYSE:JPM) by 1.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,450 shares of the financial services provider’s stock after selling 77 shares during the period. JPMorgan Chase & Co. accounts for 0.8% of Wallace Advisory Group LLC’s holdings, making the stock its 29th biggest position. Wallace Advisory Group LLC’s holdings in JPMorgan Chase & Co. were worth $1,102,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Wellington Wealth Strategies LLC. acquired a new stake in shares of JPMorgan Chase & Co. in the fourth quarter worth $1,145,000. Cooper Financial Group increased its stake in shares of JPMorgan Chase & Co. by 12.8% in the first quarter. Cooper Financial Group now owns 8,693 shares of the financial services provider’s stock worth $1,741,000 after acquiring an additional 984 shares during the period. Spartan Planning & Wealth Management increased its stake in shares of JPMorgan Chase & Co. by 257.3% in the fourth quarter. Spartan Planning & Wealth Management now owns 3,780 shares of the financial services provider’s stock worth $643,000 after acquiring an additional 2,722 shares during the period. jvl associates llc increased its stake in shares of JPMorgan Chase & Co. by 59.8% in the first quarter. jvl associates llc now owns 1,911 shares of the financial services provider’s stock worth $383,000 after acquiring an additional 715 shares during the period. Finally, Rowlandmiller & PARTNERS.ADV increased its stake in shares of JPMorgan Chase & Co. by 1.3% in the first quarter. Rowlandmiller & PARTNERS.ADV now owns 25,963 shares of the financial services provider’s stock worth $5,201,000 after acquiring an additional 330 shares during the period. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Trading Up 3.5 %

JPMorgan Chase & Co. stock traded up $7.20 during mid-day trading on Friday, hitting $211.22. The company’s stock had a trading volume of 10,213,415 shares, compared to its average volume of 9,148,031. The stock’s fifty day moving average is $211.30 and its two-hundred day moving average is $203.03. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.24. The firm has a market capitalization of $606.55 billion, a PE ratio of 11.78, a price-to-earnings-growth ratio of 2.39 and a beta of 1.11. JPMorgan Chase & Co. has a 1 year low of $135.19 and a 1 year high of $225.48.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Friday, July 12th. The financial services provider reported $6.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.19 by $1.93. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. The firm had revenue of $50.80 billion for the quarter, compared to analyst estimates of $42.23 billion. During the same period in the previous year, the firm earned $4.37 EPS. On average, analysts anticipate that JPMorgan Chase & Co. will post 16.72 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be issued a $1.25 dividend. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 annualized dividend and a dividend yield of 2.37%. The ex-dividend date of this dividend is Friday, October 4th. JPMorgan Chase & Co.’s dividend payout ratio is currently 27.89%.

Analyst Upgrades and Downgrades

JPM has been the topic of a number of research reports. BMO Capital Markets increased their price objective on shares of JPMorgan Chase & Co. from $195.00 to $205.00 and gave the stock a “market perform” rating in a research note on Thursday, July 11th. Barclays raised their price target on shares of JPMorgan Chase & Co. from $212.00 to $217.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Piper Sandler raised their price target on shares of JPMorgan Chase & Co. from $220.00 to $230.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Keefe, Bruyette & Woods raised their price target on shares of JPMorgan Chase & Co. from $209.00 to $211.00 and gave the company a “market perform” rating in a research report on Tuesday, July 9th. Finally, Wells Fargo & Company raised their price target on shares of JPMorgan Chase & Co. from $220.00 to $225.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Nine equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $212.13.

JPMorgan Chase & Co. 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.