Graypoint LLC Purchases 2,639 Shares of JPMorgan Chase & Co. $JPM

Key Points

• Graypoint LLC increased its holdings in JPMorgan Chase & Co. by 6.6% during the second quarter, acquiring an additional 2,639 shares to own a total of 42,449 shares valued at about $12.3 million.
• JPMorgan Chase recently announced an increase in its quarterly dividend from $1.40 to $1.50, representing an annualized payout of $6.00 and a yield of 1.9%.
• Analysts have raised their price targets for JPMorgan Chase, with Wells Fargo setting a target of $345 and Bank of America targeting $340 while maintaining a positive outlook for the stock.

Graypoint LLC raised its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 6.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,449 shares of the financial services provider's stock after acquiring an additional 2,639 shares during the period. Graypoint LLC's holdings in JPMorgan Chase & Co. were worth $12,306,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of JPM. LCM Capital Management Inc raised its position in shares of JPMorgan Chase & Co. by 0.9% during the second quarter. LCM Capital Management Inc now owns 3,847 shares of the financial services provider's stock valued at $1,115,000 after buying an additional 36 shares during the last quarter. Lakeshore Financial Planning Inc. raised its position in shares of JPMorgan Chase & Co. by 0.4% during the second quarter. Lakeshore Financial Planning Inc. now owns 8,417 shares of the financial services provider's stock valued at $2,441,000 after buying an additional 37 shares during the last quarter. First Command Advisory Services Inc. raised its position in shares of JPMorgan Chase & Co. by 0.4% during the first quarter. First Command Advisory Services Inc. now owns 9,306 shares of the financial services provider's stock valued at $2,283,000 after buying an additional 40 shares during the last quarter. Black Swift Group LLC raised its position in JPMorgan Chase & Co. by 0.7% in the first quarter. Black Swift Group LLC now owns 5,759 shares of the financial services provider's stock worth $1,413,000 after purchasing an additional 40 shares in the last quarter. Finally, Beacon Bridge Wealth Partners LLC raised its position in JPMorgan Chase & Co. by 1.8% in the first quarter. Beacon Bridge Wealth Partners LLC now owns 2,231 shares of the financial services provider's stock worth $547,000 after purchasing an additional 40 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors.

Insider Transactions at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the firm's stock in a transaction that occurred 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 directly owned 82,207 shares of the company's stock, valued at approximately $24,492,753.58. This trade represents a 10.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.47% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Wells Fargo & Company increased their price target on shares of JPMorgan Chase & Co. from $325.00 to $345.00 and gave the stock an "overweight" rating in a research report on Tuesday, September 16th. Bank of America increased their price target on shares of JPMorgan Chase & Co. from $330.00 to $340.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. Morgan Stanley increased their price target on shares of JPMorgan Chase & Co. from $296.00 to $298.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 16th. HSBC reissued a "reduce" rating and issued a $259.00 price target on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 8th. Finally, Piper Sandler reissued an "overweight" rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 15th. Thirteen analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $297.17.

JPMorgan Chase & Co. Price Performance

JPM opened at $316.12 on Friday. JPMorgan Chase & Co. has a one year low of $202.16 and a one year high of $317.81. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.88. The company's 50 day simple moving average is $298.96 and its 200-day simple moving average is $271.68. The stock has a market capitalization of $869.25 billion, a P/E ratio of 16.22, a price-to-earnings-growth ratio of 2.07 and a beta of 1.13.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, beating the consensus estimate of $4.48 by $0.48. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The business had revenue of $44.91 billion for the quarter, compared to analysts' expectations of $43.76 billion. During the same period in the prior year, the firm earned $6.12 earnings per share. JPMorgan Chase & Co.'s revenue was down 10.5% compared to the same quarter last year. Sell-side analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, October 6th will be paid a $1.50 dividend. The ex-dividend date of this dividend is Monday, October 6th. This is a boost from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. This represents a $6.00 dividend on an annualized basis and a yield of 1.9%. 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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