6,000 Shares in JPMorgan Chase & Co. $JPM Purchased by MFG Wealth Management Inc.

Key Points

• MFG Wealth Management Inc. has acquired 6,000 shares of JPMorgan Chase & Co., valued at approximately $1,739,000, signaling growing institutional interest in the stock.
• JPMorgan Chase recently declared a quarterly dividend of $1.50 per share, an increase from the previous dividend of $1.40, reflecting the company's strong financial performance.
• The stock currently has an average rating of "Moderate Buy" from analysts, with target prices ranging from $235 to $340, indicating bullish sentiment despite some mixed ratings.

MFG Wealth Management Inc. purchased a new position in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 6,000 shares of the financial services provider's stock, valued at approximately $1,739,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in JPM. Twin Lakes Capital Management LLC increased its stake in shares of JPMorgan Chase & Co. by 0.3% in the 4th quarter. Twin Lakes Capital Management LLC now owns 13,932 shares of the financial services provider's stock valued at $3,340,000 after buying an additional 40 shares during the period. First Command Advisory Services Inc. lifted its position in JPMorgan Chase & Co. by 0.4% during the 1st quarter. First Command Advisory Services Inc. now owns 9,306 shares of the financial services provider's stock valued at $2,283,000 after purchasing an additional 40 shares during the period. Black Swift Group LLC lifted its position in JPMorgan Chase & Co. by 0.7% during the 1st quarter. Black Swift Group LLC now owns 5,759 shares of the financial services provider's stock valued at $1,413,000 after purchasing an additional 40 shares during the period. Beacon Bridge Wealth Partners LLC lifted its position in JPMorgan Chase & Co. by 1.8% during the 1st quarter. Beacon Bridge Wealth Partners LLC now owns 2,231 shares of the financial services provider's stock valued at $547,000 after purchasing an additional 40 shares during the period. Finally, Jackson Creek Investment Advisors LLC lifted its position in JPMorgan Chase & Co. by 1.7% during the 1st quarter. Jackson Creek Investment Advisors LLC now owns 2,470 shares of the financial services provider's stock valued at $606,000 after purchasing an additional 41 shares during the period. Institutional investors and hedge funds own 71.55% of the company's stock.

Analyst Ratings Changes

JPM has been the topic of a number of research reports. Bank of America upped their target price on shares of JPMorgan Chase & Co. from $330.00 to $340.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. Truist Financial upped their target price on shares of JPMorgan Chase & Co. from $280.00 to $290.00 and gave the company a "hold" rating in a research report on Wednesday, July 9th. Robert W. Baird downgraded shares of JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 target price on the stock. in a research report on Friday, June 27th. Morgan Stanley upped their target price on shares of JPMorgan Chase & Co. from $296.00 to $298.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 16th. Finally, Keefe, Bruyette & Woods upped their target price on shares of JPMorgan Chase & Co. from $327.00 to $330.00 and gave the company an "outperform" rating in a research report on Wednesday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $292.78.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, Director Linda Bammann sold 9,500 shares of the firm's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the completion of the transaction, the director directly owned 82,207 shares of the company's stock, valued at $24,492,753.58. This trade represents a 10.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.47% of the stock is owned by corporate insiders.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock opened at $309.19 on Wednesday. The company has a market capitalization of $850.20 billion, a P/E ratio of 15.86, a price-to-earnings-growth ratio of 2.05 and a beta of 1.13. JPMorgan Chase & Co. has a 52 week low of $202.16 and a 52 week high of $310.90. The company's 50 day moving average price is $294.81 and its two-hundred day moving average price is $268.04. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.88 and a current ratio of 0.88.

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

JPMorgan Chase & Co. Increases Dividend

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

About JPMorgan Chase & Co.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.