Concurrent Investment Advisors LLC Boosts Holdings in JPMorgan Chase & Co. $JPM

Key Points

• Concurrent Investment Advisors LLC increased its holdings in JPMorgan Chase & Co. by 17.4%, owning 133,686 shares valued at approximately $38.76 million as of the end of the last quarter.
• JPMorgan's stock has received revisions in target prices from various brokerages, with Evercore ISI raising its target to $330 and Keefe, Bruyette & Woods to $354, reflecting a positive outlook on the financial institution.
• The company declared a quarterly dividend of $1.50, an increase from the previous dividend of $1.40, indicating a healthy dividend payout ratio of 29.72%.

Concurrent Investment Advisors LLC grew its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 17.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 133,686 shares of the financial services provider's stock after acquiring an additional 19,816 shares during the quarter. JPMorgan Chase & Co. accounts for approximately 0.7% of Concurrent Investment Advisors LLC's holdings, making the stock its 19th biggest holding. Concurrent Investment Advisors LLC's holdings in JPMorgan Chase & Co. were worth $38,757,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in JPM. Brighton Jones LLC raised its stake in shares of JPMorgan Chase & Co. by 11.0% during the fourth quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider's stock worth $11,682,000 after acquiring an additional 4,841 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of JPMorgan Chase & Co. by 5.8% in the first quarter. GAMMA Investing LLC now owns 96,029 shares of the financial services provider's stock worth $23,556,000 after buying an additional 5,296 shares during the period. Ironwood Wealth Management LLC. increased its stake in shares of JPMorgan Chase & Co. by 0.7% in the first quarter. Ironwood Wealth Management LLC. now owns 15,400 shares of the financial services provider's stock worth $3,778,000 after buying an additional 107 shares during the period. Acorns Advisers LLC increased its stake in shares of JPMorgan Chase & Co. by 6.9% in the first quarter. Acorns Advisers LLC now owns 1,547 shares of the financial services provider's stock worth $379,000 after buying an additional 100 shares during the period. Finally, Segment Wealth Management LLC increased its stake in shares of JPMorgan Chase & Co. by 23.0% in the first quarter. Segment Wealth Management LLC now owns 19,110 shares of the financial services provider's stock worth $4,688,000 after buying an additional 3,576 shares during the period. 71.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on JPM. Evercore ISI lifted their target price on shares of JPMorgan Chase & Co. from $309.00 to $330.00 and gave the stock an "outperform" rating in a research note on Tuesday, September 30th. KGI Securities lifted their target price on shares of JPMorgan Chase & Co. from $300.00 to $315.00 and gave the stock a "hold" rating in a research note on Wednesday, October 15th. Piper Sandler reaffirmed an "overweight" rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 15th. Baird R W downgraded shares of JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a research note on Friday, June 27th. Finally, Keefe, Bruyette & Woods lifted 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 note on Friday, October 10th. Fifteen analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $322.86.

Insider Transactions at JPMorgan Chase & Co.

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 transaction, the director owned 82,207 shares in the company, valued at $24,492,753.58. The trade was a 10.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.47% of the stock is currently owned by insiders.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock opened at $297.09 on Wednesday. JPMorgan Chase & Co. has a 12 month low of $202.16 and a 12 month high of $318.01. The stock has a market cap of $816.92 billion, a PE ratio of 14.71, a price-to-earnings-growth ratio of 1.83 and a beta of 1.13. The company has a current ratio of 0.86, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. The company's fifty day moving average price is $303.16 and its 200-day moving average price is $279.88.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its earnings results on Tuesday, October 14th. The financial services provider reported $5.07 EPS for the quarter, beating analysts' consensus estimates of $4.83 by $0.24. The firm 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 company's quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.37 EPS. On average, equities analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently declared 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. This represents a $6.00 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Monday, October 6th. This is a positive change from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is presently 29.72%.

JPMorgan Chase & Co. Company 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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