3,689 Shares in JPMorgan Chase & Co. $JPM Bought by Clark & Stuart Inc

Key Points

• Clark & Stuart Inc has acquired a new position in JPMorgan Chase & Co., purchasing 3,689 shares valued at approximately $1,069,000 during the second quarter.
• In a recent report, Bank of America raised its price target on the bank's stock from $330.00 to $340.00 and issued a "buy" rating.
• JPMorgan Chase & Co. is increasing its quarterly dividend to $1.50 per share, up from the previous $1.40, reflecting a positive shift in its financial performance.

Clark & Stuart Inc bought a new position in JPMorgan Chase & Co. (NYSE:JPM) in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 3,689 shares of the financial services provider's stock, valued at approximately $1,069,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. MJT & Associates Financial Advisory Group Inc. purchased a new position in shares of JPMorgan Chase & Co. during the 1st quarter valued at about $28,000. University of Illinois Foundation purchased a new position in shares of JPMorgan Chase & Co. during the 1st quarter valued at about $30,000. Ryan Investment Management Inc. purchased a new position in shares of JPMorgan Chase & Co. in the 2nd quarter valued at about $37,000. Christopher J. Hasenberg Inc boosted its position in JPMorgan Chase & Co. by 212.0% during the second quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider's stock worth $45,000 after purchasing an additional 106 shares in the last quarter. Finally, Goodman Advisory Group LLC purchased a new position in JPMorgan Chase & Co. during the first quarter worth approximately $76,000. Hedge funds and other institutional investors own 71.55% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. HSBC reiterated a "reduce" rating and set a $259.00 price target on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 8th. Bank of America increased their price target on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. Hsbc Global Res downgraded JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research report on Tuesday, July 8th. Piper Sandler reiterated an "overweight" rating on shares of JPMorgan Chase & Co. in a report on Tuesday, July 15th. Finally, Wells Fargo & Company increased their target price on JPMorgan Chase & Co. from $325.00 to $345.00 and gave the company an "overweight" rating in a report on Tuesday, September 16th. Fifteen research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $318.70.

Insiders Place Their Bets

In related news, Director Linda Bammann sold 9,500 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $297.94, for a total value of $2,830,430.00. Following the completion of the transaction, the director directly owned 82,207 shares in the company, valued at approximately $24,492,753.58. This represents a 10.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Price Performance

NYSE:JPM opened at $302.11 on Wednesday. JPMorgan Chase & Co. has a one year low of $202.16 and a one year high of $318.01. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.88 and a current ratio of 0.88. The stock has a market cap of $830.72 billion, a PE ratio of 15.50, a P/E/G ratio of 1.99 and a beta of 1.13. The stock has a 50 day moving average price of $302.11 and a 200 day moving average price of $277.61.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $5.07 EPS for the quarter, beating the consensus estimate of $4.83 by $0.24. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.The firm had revenue of $46.43 billion during the quarter, compared to analysts' expectations of $44.42 billion. During the same quarter last year, the firm earned $4.37 earnings per share. The business's revenue for the quarter was up 8.8% on a year-over-year basis. Equities research analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, October 6th will be given a $1.50 dividend. The ex-dividend date is Monday, October 6th. This is a positive change from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. This represents a $6.00 annualized dividend and a yield of 2.0%. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is currently 30.79%.

JPMorgan Chase & Co. Company 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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