Destiny Wealth Partners LLC Has $1.19 Million Position in JPMorgan Chase & Co. $JPM

Key Points

• Destiny Wealth Partners LLC increased its stake in JPMorgan Chase & Co. by 100.2% in the second quarter, bringing its total ownership to 4,099 shares worth approximately $1.19 million.
• JPMorgan Chase recently raised its quarterly dividend from $1.40 to $1.50 per share, with a dividend yield of 1.9%.
• Market analysts have a varied outlook on JPM stock, with an average price target of $299.28, including 13 Buy ratings, 7 Hold ratings, and 3 Sell ratings.

Destiny Wealth Partners LLC grew its stake in JPMorgan Chase & Co. (NYSE:JPM) by 100.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,099 shares of the financial services provider's stock after purchasing an additional 2,052 shares during the period. Destiny Wealth Partners LLC's holdings in JPMorgan Chase & Co. were worth $1,188,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in JPM. Brighton Jones LLC boosted its position in JPMorgan Chase & Co. by 11.0% during the 4th quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider's stock worth $11,682,000 after buying an additional 4,841 shares during the period. Baker Tilly Wealth Management LLC boosted its position in JPMorgan Chase & Co. by 1.5% during the 1st quarter. Baker Tilly Wealth Management LLC now owns 11,457 shares of the financial services provider's stock worth $2,810,000 after buying an additional 172 shares during the period. Fiduciary Alliance LLC boosted its position in JPMorgan Chase & Co. by 0.8% during the 1st quarter. Fiduciary Alliance LLC now owns 142,894 shares of the financial services provider's stock worth $35,052,000 after buying an additional 1,193 shares during the period. Moller Wealth Partners boosted its position in JPMorgan Chase & Co. by 73.9% during the 1st quarter. Moller Wealth Partners now owns 5,976 shares of the financial services provider's stock worth $1,466,000 after buying an additional 2,539 shares during the period. Finally, Enterprise Bank & Trust Co boosted its position in JPMorgan Chase & Co. by 1.0% during the 1st quarter. Enterprise Bank & Trust Co now owns 29,855 shares of the financial services provider's stock worth $7,323,000 after buying an additional 308 shares during the period. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on JPM shares. Piper Sandler reiterated an "overweight" rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 15th. Truist Financial raised their price target on shares of JPMorgan Chase & Co. from $290.00 to $319.00 and gave the stock a "hold" rating in a report on Tuesday, September 23rd. Robert W. Baird lowered shares of JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 price target for the company. in a report on Friday, June 27th. Bank of America raised their price target on shares of JPMorgan Chase & Co. from $330.00 to $340.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th. Finally, HSBC restated a "reduce" rating and set a $259.00 price target on shares of JPMorgan Chase & Co. in a report on Tuesday, July 8th. Thirteen analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $299.28.

JPMorgan Chase & Co. Stock Performance

NYSE:JPM opened at $315.56 on Tuesday. The company has a fifty day moving average of $299.46 and a 200-day moving average of $272.90. The firm has a market capitalization of $867.71 billion, a P/E ratio of 16.19, a P/E/G ratio of 2.08 and a beta of 1.13. 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. has a twelve month low of $202.16 and a twelve month high of $318.01.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share for the quarter, beating the consensus estimate of $4.48 by $0.48. The company had revenue of $44.91 billion during 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% compared to the same quarter last year. During the same quarter in the previous year, the business posted $6.12 EPS. As a group, sell-side analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, October 6th will be paid a dividend of $1.50 per share. 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 yield of 1.9%. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is presently 28.73%.

Insider Buying and Selling

In other JPMorgan Chase & Co. 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 transaction of $2,830,430.00. Following the completion of the sale, the director owned 82,207 shares in the company, valued at approximately $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 can be accessed through the SEC website. Company insiders own 0.47% of the company's stock.

About JPMorgan Chase & Co.

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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