Balefire LLC Acquires 3,176 Shares of JPMorgan Chase & Co. $JPM

Key Points

• Balefire LLC increased its stake in JPMorgan Chase & Co. by 42.9% during the second quarter, bringing its total holdings to 10,577 shares worth $3,066,000.
• JPMorgan Chase recently reported an EPS of $4.96 for the quarter, exceeding analysts' expectations of $4.48, despite a 10.5% year-over-year decline in revenue.
• The company announced an increase in its quarterly dividend to $1.50, representing an annualized dividend yield of 1.9%, with a payout ratio of 28.73%.

Balefire LLC raised its stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 42.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,577 shares of the financial services provider's stock after acquiring an additional 3,176 shares during the quarter. Balefire LLC's holdings in JPMorgan Chase & Co. were worth $3,066,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in JPM. GAMMA Investing LLC boosted its stake in JPMorgan Chase & Co. by 25,861.9% during the 1st quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider's stock valued at $5,778,289,000 after acquiring an additional 23,465,278 shares during the last quarter. Nuveen LLC bought a new position in shares of JPMorgan Chase & Co. in the 1st quarter worth about $3,972,807,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of JPMorgan Chase & Co. in the 4th quarter worth about $454,042,000. National Bank of Canada FI lifted its position in shares of JPMorgan Chase & Co. by 44.4% in the 1st quarter. National Bank of Canada FI now owns 4,518,740 shares of the financial services provider's stock worth $1,108,415,000 after buying an additional 1,388,992 shares during the last quarter. Finally, Strs Ohio bought a new position in shares of JPMorgan Chase & Co. in the 1st quarter worth about $279,389,000. 71.55% of the stock is currently owned by institutional investors.

JPMorgan Chase & Co. Stock Up 0.3%

Shares of JPM stock traded up $1.02 during trading on Friday, hitting $314.25. 23,513,937 shares of the company were exchanged, compared to its average volume of 7,166,939. 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 firm has a market capitalization of $864.11 billion, a price-to-earnings ratio of 16.12, a P/E/G ratio of 2.08 and a beta of 1.13. The business's 50-day simple moving average is $296.43 and its 200 day simple moving average is $269.15. JPMorgan Chase & Co. has a twelve month low of $202.16 and a twelve month high of $315.80.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.48 by $0.48. The firm 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 company's revenue was down 10.5% compared to the same quarter last year. During the same period in the previous year, the company earned $6.12 earnings per share. As a group, analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, October 6th will be paid 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 dividend on an annualized basis and a dividend yield of 1.9%. JPMorgan Chase & Co.'s dividend payout ratio is presently 28.73%.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, Director Linda Bammann sold 9,500 shares of the business's 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 completion of the sale, the director directly owned 82,207 shares in the company, valued at approximately $24,492,753.58. The trade was a 10.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.47% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on JPM. Truist Financial increased their price objective on shares of JPMorgan Chase & Co. from $280.00 to $290.00 and gave the stock a "hold" rating in a report on Wednesday, July 9th. Keefe, Bruyette & Woods increased their price objective on shares of JPMorgan Chase & Co. from $327.00 to $330.00 and gave the stock an "outperform" rating in a report on Wednesday, July 16th. Piper Sandler reaffirmed an "overweight" rating on shares of JPMorgan Chase & Co. in a report on Tuesday, July 15th. TD Securities reaffirmed a "buy" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, June 4th. Finally, Royal Bank Of Canada reissued a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Thursday, September 11th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, six have given a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, JPMorgan Chase & Co. currently has a consensus rating of "Moderate Buy" and a consensus price target of $292.78.

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.