Brightwater Advisory LLC purchased a new stake in shares of JPMorgan Chase & Co. (NYSE:JPM – Free Report) 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 – Get Free Report) 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.
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