Baron Financial Group LLC Purchases Shares of 815 JPMorgan Chase & Co. $JPM

Key Points

• Baron Financial Group LLC acquired 815 shares of JPMorgan Chase & Co., valued at approximately $236,000, as reported in their recent Form 13F filing with the SEC.
• Several hedge funds adjusted their positions in JPMorgan, with ownership by institutional investors now at 71.55% of the stock.
• JPMorgan Chase & Co. has raised its quarterly dividend by $.10 to $1.50, reflecting strong financial performance despite a 10.5% year-over-year revenue decline.

Baron Financial Group LLC purchased a new stake in shares of JPMorgan Chase & Co. (NYSE:JPM) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 815 shares of the financial services provider's stock, valued at approximately $236,000.

Several other hedge funds have also modified their holdings of the company. Lifestyle Asset Management Inc. lifted its position in shares of JPMorgan Chase & Co. by 9.8% during the second quarter. Lifestyle Asset Management Inc. now owns 1,117 shares of the financial services provider's stock valued at $324,000 after buying an additional 100 shares during the last quarter. Key Client Fiduciary Advisors LLC increased its holdings in shares of JPMorgan Chase & Co. by 1.1% during the second quarter. Key Client Fiduciary Advisors LLC now owns 7,550 shares of the financial services provider's stock valued at $2,189,000 after acquiring an additional 81 shares in the last quarter. MFG Wealth Management Inc. acquired a new position in shares of JPMorgan Chase & Co. during the second quarter valued at about $1,739,000. Bowman & Co S.C. increased its holdings in shares of JPMorgan Chase & Co. by 1.0% during the second quarter. Bowman & Co S.C. now owns 26,142 shares of the financial services provider's stock valued at $7,577,000 after acquiring an additional 255 shares in the last quarter. Finally, Riversedge Advisors LLC increased its holdings in shares of JPMorgan Chase & Co. by 8.2% during the second quarter. Riversedge Advisors LLC now owns 3,150 shares of the financial services provider's stock valued at $913,000 after acquiring an additional 239 shares in the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the firm's stock in a transaction on Tuesday, September 2nd. The stock was 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 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 this hyperlink. Insiders own 0.47% of the company's stock.

Wall Street Analyst Weigh In

JPM has been the topic of several recent analyst reports. Hsbc Global Res downgraded shares of JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a report on Tuesday, July 8th. Truist Financial upped their price objective on shares of JPMorgan Chase & Co. from $280.00 to $290.00 and gave the company a "hold" rating in a report on Wednesday, July 9th. Royal Bank Of Canada set a $305.00 price objective on shares of JPMorgan Chase & Co. and gave the company an "outperform" rating in a report on Monday, June 30th. Morgan Stanley upped their price objective on shares of JPMorgan Chase & Co. from $296.00 to $298.00 and gave the company an "equal weight" rating in a report on Wednesday, July 16th. Finally, Zacks Research lowered JPMorgan Chase & Co. from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 8th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, six have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, JPMorgan Chase & Co. currently has a consensus rating of "Moderate Buy" and an average target price of $292.78.

JPMorgan Chase & Co. Trading Up 0.1%

Shares of JPM stock opened at $309.19 on Wednesday. The stock's fifty day moving average is $294.81 and its two-hundred day moving average 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. The firm has a market capitalization of $850.20 billion, a P/E ratio of 15.86, a PEG ratio of 2.05 and a beta of 1.13. JPMorgan Chase & Co. has a fifty-two week low of $202.16 and a fifty-two week high of $310.90.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its quarterly earnings data 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 return on equity of 16.93% and a net margin of 20.52%.The firm's revenue for the quarter was down 10.5% on a year-over-year basis. During the same quarter last year, the firm posted $6.12 EPS. Research analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share 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. Shareholders of record on Monday, October 6th will be issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Monday, October 6th. This is an increase from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. JPMorgan Chase & Co.'s payout ratio is 28.73%.

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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