Ascent Group LLC lifted its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 8.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,771 shares of the financial services provider's stock after purchasing an additional 6,346 shares during the period. JPMorgan Chase & Co. comprises approximately 0.9% of Ascent Group LLC's holdings, making the stock its 23rd biggest holding. Ascent Group LLC's holdings in JPMorgan Chase & Co. were worth $23,416,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of the business. Consilium Wealth Advisory LLC increased its stake in shares of JPMorgan Chase & Co. by 0.4% during the 2nd quarter. Consilium Wealth Advisory LLC now owns 10,960 shares of the financial services provider's stock worth $3,177,000 after purchasing an additional 40 shares in the last quarter. New Century Financial Group LLC increased its stake in shares of JPMorgan Chase & Co. by 16.7% during the 2nd quarter. New Century Financial Group LLC now owns 1,796 shares of the financial services provider's stock worth $521,000 after purchasing an additional 257 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its stake in shares of JPMorgan Chase & Co. by 11.2% during the 2nd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 68,405 shares of the financial services provider's stock worth $19,831,000 after purchasing an additional 6,876 shares in the last quarter. Gray Private Wealth LLC purchased a new position in shares of JPMorgan Chase & Co. during the 2nd quarter worth approximately $209,000. Finally, Custos Family Office LLC increased its stake in shares of JPMorgan Chase & Co. by 17.2% during the 2nd quarter. Custos Family Office LLC now owns 1,608 shares of the financial services provider's stock worth $466,000 after purchasing an additional 236 shares in the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.
JPMorgan Chase & Co. Stock Up 0.4%
Shares of JPM opened at $305.35 on Friday. The firm has a market cap of $839.64 billion, a PE ratio of 15.67, a price-to-earnings-growth ratio of 1.96 and a beta of 1.13. The company's fifty day moving average is $301.37 and its two-hundred day moving average is $276.26. JPMorgan Chase & Co. has a fifty-two week low of $202.16 and a fifty-two week high of $318.01. 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 quarterly earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share for the quarter, beating analysts' consensus estimates of $4.48 by $0.48. The company had revenue of $44.91 billion for the quarter, compared to analyst estimates of $43.76 billion. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. JPMorgan Chase & Co.'s revenue for the quarter was down 10.5% on a year-over-year basis. During the same quarter last year, the business earned $6.12 EPS. Analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.
JPMorgan Chase & Co. Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, October 6th will be issued a $1.50 dividend. This is a boost from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. The ex-dividend date is Monday, October 6th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.0%. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is 30.79%.
Wall Street Analysts Forecast Growth
A number of research analysts have recently weighed in on JPM shares. Citigroup raised their target price on shares of JPMorgan Chase & Co. from $275.00 to $325.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 24th. UBS Group raised 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. Cowen restated a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, July 16th. 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. Finally, Truist Financial raised their target price on shares of JPMorgan Chase & Co. from $290.00 to $319.00 and gave the stock a "hold" rating in a research report on Tuesday, September 23rd. Fourteen research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $313.89.
Check Out Our Latest Stock Analysis on JPM
Insider Buying and Selling at JPMorgan Chase & Co.
In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction on 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 transaction, the director owned 82,207 shares in the company, valued at $24,492,753.58. This trade represents a 10.36% decrease in their position. 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.
About JPMorgan Chase & Co.
(
Free Report)
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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