1,030 Shares in JPMorgan Chase & Co. $JPM Bought by Spectrum Planning & Advisory Services Inc.

Key Points

• Spectrum Planning & Advisory Services Inc. has acquired a new position in JPMorgan Chase & Co., purchasing 1,030 shares valued at approximately $299,000.
• Insider activity includes Director Linda Bammann selling 9,500 shares for a total of $2,830,430, reducing her ownership by 10.36%.
• JPMorgan Chase recently reported $4.96 EPS for the quarter, exceeding estimates, with a quarterly dividend increase to $1.50, reflecting a positive change from the previous $1.40 dividend.

Spectrum Planning & Advisory Services Inc. bought a new position in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,030 shares of the financial services provider's stock, valued at approximately $299,000.

Several other institutional investors have also recently made changes to their positions in JPM. Brighton Jones LLC raised its holdings in shares of JPMorgan Chase & Co. by 11.0% during the fourth quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider's stock worth $11,682,000 after purchasing an additional 4,841 shares during the last quarter. BTC Capital Management Inc. raised its holdings in shares of JPMorgan Chase & Co. by 1.5% during the first quarter. BTC Capital Management Inc. now owns 74,342 shares of the financial services provider's stock worth $18,237,000 after purchasing an additional 1,068 shares during the last quarter. Lantz Financial LLC raised its holdings in shares of JPMorgan Chase & Co. by 1.0% during the first quarter. Lantz Financial LLC now owns 6,865 shares of the financial services provider's stock worth $1,684,000 after purchasing an additional 68 shares during the last quarter. LVM Capital Management Ltd. MI raised its holdings in shares of JPMorgan Chase & Co. by 324.0% during the first quarter. LVM Capital Management Ltd. MI now owns 53,353 shares of the financial services provider's stock worth $13,087,000 after purchasing an additional 40,769 shares during the last quarter. Finally, Beese Fulmer Investment Management Inc. raised its holdings in shares of JPMorgan Chase & Co. by 0.5% during the first quarter. Beese Fulmer Investment Management Inc. now owns 91,404 shares of the financial services provider's stock worth $22,422,000 after purchasing an additional 446 shares during the last quarter. Hedge funds and other institutional investors own 71.55% of the company's stock.

Insider Activity

In other news, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total value of $2,830,430.00. Following the sale, the director owned 82,207 shares in the company, valued at $24,492,753.58. This trade represents a 10.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.47% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Phillip Securities cut shares of JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a report on Wednesday, July 16th. Truist Financial lifted their price objective on shares of JPMorgan Chase & Co. from $290.00 to $319.00 and gave the company a "hold" rating in a report on Tuesday, September 23rd. Royal Bank Of Canada reaffirmed a "buy" rating on shares of JPMorgan Chase & Co. in a report on Thursday, September 11th. Evercore ISI set a $298.00 price objective on shares of JPMorgan Chase & Co. and gave the company an "outperform" rating in a report on Monday, July 7th. Finally, Robert W. Baird cut shares of JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 price objective for the company. in a report on Friday, June 27th. Thirteen research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, JPMorgan Chase & Co. currently has a consensus rating of "Hold" and an average price target of $297.17.

JPMorgan Chase & Co. Stock Up 0.9%

Shares of NYSE JPM opened at $316.12 on Friday. The company's 50-day simple moving average is $298.96 and its 200-day simple moving average is $271.99. JPMorgan Chase & Co. has a 52-week low of $202.16 and a 52-week high of $317.81. The firm has a market cap of $869.25 billion, a price-to-earnings ratio of 16.22, a price-to-earnings-growth ratio of 2.08 and a beta of 1.13. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.25.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.48 by $0.48. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The business had revenue of $44.91 billion for the quarter, compared to analyst estimates of $43.76 billion. During the same quarter last year, the business earned $6.12 earnings per share. The company's revenue for the quarter was down 10.5% compared to the same quarter last year. Equities analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, October 6th will be given a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 1.9%. This is a positive change from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. The ex-dividend date is Monday, October 6th. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is 28.73%.

JPMorgan Chase & Co. Profile

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.

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