JPMorgan Chase & Co. $JPM Shares Acquired by Cliftonlarsonallen Wealth Advisors LLC

Key Points

• Cliftonlarsonallen Wealth Advisors LLC increased its holdings in JPMorgan Chase & Co. by 34.3% in Q2, boosting its total ownership to 19,340 shares valued at approximately $5.6 million.
• JPMorgan Chase also announced a quarterly dividend increase from $1.40 to $1.50 per share, reflecting a 2.0% dividend yield and a dividend payout ratio of 30.79%.
• Analyst ratings for JPMorgan Chase indicate a consensus of 15 Buy ratings, alongside 8 Holds and 3 Sells, with a target price adjustment from Goldman Sachs up to $350.00.

Cliftonlarsonallen Wealth Advisors LLC grew its position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 34.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,340 shares of the financial services provider's stock after buying an additional 4,941 shares during the quarter. Cliftonlarsonallen Wealth Advisors LLC's holdings in JPMorgan Chase & Co. were worth $5,607,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. MJT & Associates Financial Advisory Group Inc. acquired a new position in JPMorgan Chase & Co. during the 1st quarter worth $28,000. University of Illinois Foundation acquired a new position in JPMorgan Chase & Co. during the 1st quarter worth $30,000. Ryan Investment Management Inc. acquired a new position in shares of JPMorgan Chase & Co. during the 2nd quarter worth about $37,000. Christopher J. Hasenberg Inc boosted its position in shares of JPMorgan Chase & Co. by 212.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider's stock worth $45,000 after acquiring an additional 106 shares in the last quarter. Finally, Goodman Advisory Group LLC acquired a new position in shares of JPMorgan Chase & Co. during the 1st quarter worth about $76,000. 71.55% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently issued reports on JPM shares. Royal Bank Of Canada reaffirmed a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Thursday, September 11th. Piper Sandler reaffirmed an "overweight" rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 15th. The Goldman Sachs Group upped their price objective on JPMorgan Chase & Co. from $336.00 to $350.00 and gave the stock a "buy" rating in a research report on Friday, October 3rd. Keefe, Bruyette & Woods boosted their target price on JPMorgan Chase & Co. from $327.00 to $330.00 and gave the company an "outperform" rating in a report on Wednesday, July 16th. Finally, Wells Fargo & Company boosted their target price on JPMorgan Chase & Co. from $325.00 to $345.00 and gave the company an "overweight" rating in a report on Tuesday, September 16th. Fifteen research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, JPMorgan Chase & Co. presently has an average rating of "Hold" and a consensus target price of $309.95.

Insider Activity

In other news, Director Linda Bammann sold 9,500 shares of the stock in a transaction that occurred on 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 transaction, the director directly owned 82,207 shares of the company's stock, valued at approximately $24,492,753.58. This represents a 10.36% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Stock Down 1.1%

JPM opened at $304.31 on Thursday. The business has a 50 day moving average price of $301.19 and a two-hundred day moving average price of $275.87. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.25. The company has a market cap of $836.78 billion, a PE ratio of 15.61, a P/E/G ratio of 1.99 and a beta of 1.13. JPMorgan Chase & Co. has a 52 week low of $202.16 and a 52 week high of $318.01.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its quarterly earnings data 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. The firm had revenue of $44.91 billion during the quarter, compared to the consensus estimate 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 was down 10.5% compared to the same quarter last year. During the same period in the prior year, the business earned $6.12 EPS. As a group, research analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, October 6th will be paid a dividend of $1.50 per share. This is a positive change from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Monday, October 6th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.0%. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is currently 30.79%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.