JPMorgan Chase & Co. $JPM Position Raised by Prasad Wealth Partners LLC

Key Points

• Prasad Wealth Partners LLC raised its stake in JPMorgan Chase & Co. by 140.6% during Q2, owning 4,099 shares valued at $1,188,000.
• JPMorgan reported $5.07 EPS for the latest quarter, exceeding consensus estimates by $0.24, with revenues up 8.8% year-over-year at $46.43 billion.
• The company announced a quarterly dividend increase to $1.50 per share, representing a 2.0% yield as of October 31st.

Prasad Wealth Partners LLC raised its stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 140.6% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 4,099 shares of the financial services provider's stock after buying an additional 2,395 shares during the quarter. Prasad Wealth Partners LLC's holdings in JPMorgan Chase & Co. were worth $1,188,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. MJT & Associates Financial Advisory Group Inc. acquired a new position in shares of JPMorgan Chase & Co. during the first quarter valued at $28,000. University of Illinois Foundation acquired a new position in shares of JPMorgan Chase & Co. during the first quarter valued at $30,000. Ryan Investment Management Inc. acquired a new position in shares of JPMorgan Chase & Co. during the second quarter valued at $37,000. Christopher J. Hasenberg Inc increased its holdings in shares of JPMorgan Chase & Co. by 212.0% during the second quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider's stock valued at $45,000 after purchasing an additional 106 shares during the period. Finally, Goodman Advisory Group LLC acquired a new position in shares of JPMorgan Chase & Co. during the first quarter valued at $76,000. 71.55% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

JPM has been the topic of a number of research analyst reports. Truist Financial lifted their target price on JPMorgan Chase & Co. from $290.00 to $319.00 and gave the stock a "hold" rating in a report on Tuesday, September 23rd. Evercore ISI lifted their target price on JPMorgan Chase & Co. from $309.00 to $330.00 and gave the stock an "outperform" rating in a report on Tuesday, September 30th. Weiss Ratings reaffirmed a "buy (b+)" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, October 8th. Daiwa Capital Markets lifted their target price on JPMorgan Chase & Co. from $330.00 to $332.00 and gave the stock an "outperform" rating in a report on Wednesday, October 8th. Finally, Robert W. Baird lowered JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 target price on the stock. in a report on Friday, June 27th. Fifteen equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $318.70.

JPMorgan Chase & Co. Trading Down 1.9%

Shares of NYSE JPM opened at $302.11 on Wednesday. JPMorgan Chase & Co. has a one year low of $202.16 and a one year high of $318.01. The firm has a market capitalization of $830.72 billion, a PE ratio of 15.50, a PEG ratio of 1.99 and a beta of 1.13. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.25. The business has a 50-day moving average price of $302.11 and a two-hundred day moving average price of $277.61.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $5.07 EPS for the quarter, topping analysts' consensus estimates of $4.83 by $0.24. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.The firm had revenue of $46.43 billion during the quarter, compared to analyst estimates of $44.42 billion. During the same period last year, the company posted $4.37 EPS. The business's quarterly revenue was up 8.8% compared to the same quarter last year. As a group, analysts predict 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 given a dividend of $1.50 per share. 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 boost from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. JPMorgan Chase & Co.'s dividend payout ratio is 30.79%.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The stock was 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 directly owned 82,207 shares in the company, valued at approximately $24,492,753.58. This trade represents a 10.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.47% of the company's stock.

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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