Abel Hall LLC Has $1.58 Million Holdings in JPMorgan Chase & Co. $JPM

Key Points

• Abel Hall LLC increased its holdings in JPMorgan Chase & Co. by 39.9% during the 2nd quarter, now owning 5,435 shares valued at approximately $1.58 million.
• The firm announced a quarterly dividend increase to $1.50 per share, up from the previous $1.40, with a yield of 2.0%.
• Analysts have mixed sentiments on the stock, with 15 rating it as Buy, 9 as Hold, and 3 as Sell, and a current consensus target price of $319.40.

Abel Hall LLC lifted its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 39.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,435 shares of the financial services provider's stock after purchasing an additional 1,551 shares during the period. JPMorgan Chase & Co. accounts for about 0.7% of Abel Hall LLC's investment portfolio, making the stock its 23rd biggest holding. Abel Hall LLC's holdings in JPMorgan Chase & Co. were worth $1,576,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of JPM. MJT & Associates Financial Advisory Group Inc. acquired a new stake in shares of JPMorgan Chase & Co. in the 1st quarter valued at $28,000. University of Illinois Foundation acquired a new stake in shares of JPMorgan Chase & Co. in the 1st quarter valued at $30,000. Ryan Investment Management Inc. acquired a new stake in shares of JPMorgan Chase & Co. in the 2nd quarter valued at $37,000. Christopher J. Hasenberg Inc lifted its stake in shares of JPMorgan Chase & Co. by 212.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider's stock valued at $45,000 after purchasing an additional 106 shares during the last quarter. Finally, Goodman Advisory Group LLC acquired a new position in JPMorgan Chase & Co. during the 1st quarter worth $76,000. Institutional investors and hedge funds own 71.55% of the company's stock.

Analyst Upgrades and Downgrades

JPM has been the subject of a number of research analyst reports. Phillip Securities lowered shares of JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, July 16th. Zacks Research lowered shares of JPMorgan Chase & Co. from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 8th. Piper Sandler reissued an "overweight" rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 15th. UBS Group boosted their target price on shares of JPMorgan Chase & Co. from $339.00 to $350.00 and gave the stock a "buy" rating in a research report on Tuesday, October 7th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of JPMorgan Chase & Co. from $330.00 to $354.00 and gave the stock an "outperform" rating in a research report on Friday, October 10th. Fifteen research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $319.40.

Insiders Place Their Bets

In related news, Director Linda Bammann sold 9,500 shares of the company's 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 of the company's stock, valued at $24,492,753.58. The trade was a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.47% of the stock is currently owned by insiders.

JPMorgan Chase & Co. Stock Performance

NYSE JPM opened at $305.94 on Thursday. The stock has a market cap of $841.24 billion, a P/E ratio of 15.15, a PEG ratio of 1.94 and a beta of 1.13. The company's 50-day simple moving average is $302.40 and its 200 day simple moving average is $277.80. JPMorgan Chase & Co. has a twelve month low of $202.16 and a twelve month high of $318.01. The company has a quick ratio of 0.88, a current ratio of 0.86 and a debt-to-equity ratio of 1.26.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its earnings results on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share for the quarter, beating analysts' consensus estimates of $4.83 by $0.24. The business had revenue of $46.43 billion for the quarter, compared to analysts' expectations of $44.42 billion. JPMorgan Chase & Co. had a net margin of 20.90% and a return on equity of 17.18%. The firm's revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.37 earnings per share. As a group, research analysts forecast 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 announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, October 6th will be paid a $1.50 dividend. The ex-dividend date of this dividend is Monday, October 6th. This is an increase from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. This represents a $6.00 dividend on an annualized basis and a yield of 2.0%. JPMorgan Chase & Co.'s payout ratio is presently 30.79%.

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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