JPMorgan Chase & Co. (NYSE:JPM) Shares Purchased by Truist Financial Corp

Truist Financial Corp boosted its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,877,893 shares of the financial services provider’s stock after buying an additional 11,242 shares during the period. JPMorgan Chase & Co. accounts for 0.9% of Truist Financial Corp’s investment portfolio, making the stock its 15th largest position. Truist Financial Corp owned 0.10% of JPMorgan Chase & Co. worth $582,083,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in JPM. Belpointe Asset Management LLC raised its position in JPMorgan Chase & Co. by 2.2% in the fourth quarter. Belpointe Asset Management LLC now owns 32,291 shares of the financial services provider’s stock valued at $5,493,000 after purchasing an additional 709 shares during the period. Royal London Asset Management Ltd. lifted its position in JPMorgan Chase & Co. by 2.6% in the fourth quarter. Royal London Asset Management Ltd. now owns 2,225,921 shares of the financial services provider’s stock valued at $378,629,000 after buying an additional 57,344 shares during the last quarter. ROI Financial Advisors LLC acquired a new position in JPMorgan Chase & Co. in the fourth quarter valued at about $922,000. Holderness Investments Co. boosted its stake in JPMorgan Chase & Co. by 35.2% during the fourth quarter. Holderness Investments Co. now owns 26,141 shares of the financial services provider’s stock worth $4,447,000 after buying an additional 6,799 shares during the period. Finally, Edge Capital Group LLC raised its stake in shares of JPMorgan Chase & Co. by 30.9% in the 4th quarter. Edge Capital Group LLC now owns 63,881 shares of the financial services provider’s stock valued at $10,866,000 after acquiring an additional 15,098 shares during the period. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Stock Performance

Shares of JPMorgan Chase & Co. stock opened at $210.79 on Tuesday. The firm’s 50 day moving average is $211.48 and its two-hundred day moving average is $202.73. JPMorgan Chase & Co. has a 52 week low of $135.19 and a 52 week high of $225.48. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.24. The firm has a market capitalization of $605.32 billion, a P/E ratio of 11.76, a P/E/G ratio of 2.39 and a beta of 1.12.

JPMorgan Chase & Co. (NYSE:JPM) last released 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 company had revenue of $50.80 billion during the quarter, compared to the consensus estimate of $42.23 billion. During the same quarter in the prior year, the firm posted $4.37 earnings per share. Research analysts forecast that JPMorgan Chase & Co. will post 16.72 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed 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. The ex-dividend date is Friday, October 4th. This represents a $5.00 dividend on an annualized basis and a yield of 2.37%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s payout ratio is currently 27.89%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on JPM shares. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $235.00 target price on shares of JPMorgan Chase & Co. in a report on Tuesday, September 3rd. BMO Capital Markets increased their target price on 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. Jefferies Financial Group lifted their target price on JPMorgan Chase & Co. from $230.00 to $239.00 and gave the company a “buy” rating in a research report on Wednesday, July 3rd. StockNews.com raised shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research report on Saturday, July 13th. Finally, Keefe, Bruyette & Woods upped their target price on shares of JPMorgan Chase & Co. from $209.00 to $211.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 9th. Nine research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, JPMorgan Chase & Co. has an average rating of “Moderate Buy” and an average target price of $211.31.

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.