Allspring Global Investments Holdings LLC Acquires 118,553 Shares of JPMorgan Chase & Co. $JPM

Key Points

• Allspring Global Investments increased its JPMorgan stake by 17.8%, buying 118,553 shares in the third quarter to own 786,038 shares valued at about $261.9 million.
• Analysts have a consensus “Moderate Buy” rating and an average price target of $368.33; opinions range from Buy to Hold.
• JPMorgan’s latest quarter showed revenue growth of 8.1% year over year, but EPS of $5.75 and revenue of $50.17 billion both fell short of analyst estimates.

Allspring Global Investments Holdings LLC grew its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 17.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 786,038 shares of the financial services provider's stock after purchasing an additional 118,553 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in JPMorgan Chase & Co. were worth $261,892,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Concorde Asset Management LLC raised its holdings in JPMorgan Chase & Co. by 1.1% during the second quarter. Concorde Asset Management LLC now owns 2,660 shares of the financial services provider's stock valued at $871,000 after buying an additional 29 shares in the last quarter. Elevation Wealth Management LLC boosted its stake in shares of JPMorgan Chase & Co. by 1.0% during the 2nd quarter. Elevation Wealth Management LLC now owns 3,074 shares of the financial services provider's stock worth $1,006,000 after acquiring an additional 29 shares in the last quarter. Henrickson Nauta Wealth Advisors Inc. increased its holdings in shares of JPMorgan Chase & Co. by 0.8% during the 2nd quarter. Henrickson Nauta Wealth Advisors Inc. now owns 3,531 shares of the financial services provider's stock valued at $1,156,000 after acquiring an additional 29 shares during the last quarter. Arkansas Financial Group Inc. increased its holdings in shares of JPMorgan Chase & Co. by 1.1% during the 2nd quarter. Arkansas Financial Group Inc. now owns 2,667 shares of the financial services provider's stock valued at $873,000 after acquiring an additional 30 shares during the last quarter. Finally, Flynn Zito Capital Management LLC increased its holdings in shares of JPMorgan Chase & Co. by 1.1% during the 2nd quarter. Flynn Zito Capital Management LLC now owns 2,830 shares of the financial services provider's stock valued at $926,000 after acquiring an additional 30 shares during the last quarter. Institutional investors and hedge funds own 71.55% of the company's stock.

Insider Transactions at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, insider Robin Leopold sold 2,500 shares of the stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $352.81, for a total transaction of $882,025.00. Following the completion of the transaction, the insider directly owned 71,047 shares in the company, valued at $25,066,092.07. This represents a 3.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.41% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on JPM. Citigroup reduced their target price on JPMorgan Chase & Co. from $360.00 to $350.00 and set a "neutral" rating for the company in a report on Thursday, October 15th. UBS Group increased their price target on JPMorgan Chase & Co. from $395.00 to $400.00 and gave the company a "buy" rating in a report on Monday, November 2nd. Keefe, Bruyette & Woods reissued an "outperform" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, October 14th. HSBC boosted their price objective on shares of JPMorgan Chase & Co. from $369.00 to $377.00 and gave the stock a "hold" rating in a research note on Monday, September 28th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and set a $370.00 price objective on shares of JPMorgan Chase & Co. in a report on Wednesday, October 14th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and thirteen have assigned a Hold rating to the company. Based on data from MarketBeat, JPMorgan Chase & Co. presently has a consensus rating of "Moderate Buy" and a consensus price target of $368.33.

Key JPMorgan Chase & Co. News

Here's some of the latest news about JPM:

• Positive Sentiment: ETF flows were supportive: 43 ETFs bought JPMorgan shares on Wednesday versus nine that sold, for a reported net inflow of $117.8 million. ETFs Bought $117.8 Million of JPMorgan
• Neutral Sentiment: JPMorgan declared dividends on its Series II, OO and PP preferred shares. This is a routine capital return to preferred holders, not a new dividend announcement for common shareholders. JPMorganChase Declares Preferred Stock Dividends
• Negative Sentiment: The main overhang is a report that Senate Democrats may restart investigations into banks’ past dealings with Jeffrey Epstein, who banked at JPMorgan from 1999 to 2013. The prospect of renewed scrutiny involving CEO Jamie Dimon raises reputational and political risk, and coverage linked the report to pressure on JPMorgan shares. Report on a Potential Senate Investigation

JPMorgan Chase & Co. Trading Up 0.9%

Shares of JPMorgan Chase & Co. stock opened at $346.07 on Friday. JPMorgan Chase & Co. has a 52-week low of $279.10 and a 52-week high of $366.50. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.85 and a quick ratio of 0.85. The firm has a market capitalization of $919.02 billion, a PE ratio of 14.52, a price-to-earnings-growth ratio of 1.35 and a beta of 1.03. The company's fifty day moving average price is $340.47 and its two-hundred day moving average price is $324.84.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its quarterly earnings results on Tuesday, October 13th. The financial services provider reported $5.75 EPS for the quarter, missing analysts' consensus estimates of $5.94 by ($0.19). The business had revenue of $50.17 billion for the quarter, compared to the consensus estimate of $51.23 billion. JPMorgan Chase & Co. had a return on equity of 18.48% and a net margin of 21.85%. The firm's revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $5.07 EPS. On average, analysts expect that JPMorgan Chase & Co. will post 23.95 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, October 31st. Shareholders of record on Tuesday, October 6th were given a $1.65 dividend. This represents a $6.60 dividend on an annualized basis and a yield of 1.9%. This is a positive change from JPMorgan Chase & Co.'s previous quarterly dividend of $1.50. The ex-dividend date was Tuesday, October 6th. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is currently 27.68%.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co. is a global financial services company serving consumers, businesses, institutional clients and governments. Its operations include consumer and community banking, corporate and investment banking, commercial banking, and asset and wealth management. The company offers services such as deposit accounts, credit cards, mortgages, auto financing, lending, payment processing and investment advice. It also provides institutional clients with investment banking, markets, treasury and securities services, and commercial lending.

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