JPMorgan Chase & Co. $JPM Shares Bought by Simplicity Wealth LLC

Key Points

• Simplicity Wealth LLC increased its stake in JPMorgan Chase & Co. by 76.2% in the second quarter, owning 52,585 shares valued at approximately $15.25 million.
• JPMorgan Chase & Co. recently declared a quarterly dividend of $1.50 per share, marking a rise from the previous dividend of $1.40, with a current dividend yield of 2.0%.
• In its latest earnings report, JPMorgan Chase & Co. posted an EPS of $4.96, exceeding estimates, although revenue showed a 10.5% year-over-year decline.

Simplicity Wealth LLC raised its stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 76.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 52,585 shares of the financial services provider's stock after acquiring an additional 22,740 shares during the period. JPMorgan Chase & Co. accounts for about 0.6% of Simplicity Wealth LLC's investment portfolio, making the stock its 29th biggest holding. Simplicity Wealth LLC's holdings in JPMorgan Chase & Co. were worth $15,245,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of JPM. Kingstone Capital Partners Texas LLC raised its holdings in shares of JPMorgan Chase & Co. by 609,867.5% during the second quarter. Kingstone Capital Partners Texas LLC now owns 72,897,211 shares of the financial services provider's stock valued at $21,133,630,000 after buying an additional 72,885,260 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of JPMorgan Chase & Co. by 1.9% during the first quarter. Bank of New York Mellon Corp now owns 24,801,153 shares of the financial services provider's stock valued at $6,083,723,000 after buying an additional 454,226 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of JPMorgan Chase & Co. by 2.7% during the first quarter. Goldman Sachs Group Inc. now owns 20,548,182 shares of the financial services provider's stock valued at $5,040,469,000 after buying an additional 548,853 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of JPMorgan Chase & Co. by 5.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 18,441,044 shares of the financial services provider's stock valued at $4,523,588,000 after buying an additional 890,553 shares during the last quarter. Finally, Nuveen LLC bought a new stake in shares of JPMorgan Chase & Co. during the first quarter valued at approximately $3,972,807,000. 71.55% of the stock is currently owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Trading Down 1.4%

JPMorgan Chase & Co. stock opened at $301.12 on Monday. The company's fifty day simple moving average is $301.61 and its 200-day simple moving average is $276.98. 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 12 month low of $202.16 and a 12 month high of $318.01. The stock has a market cap of $828.00 billion, a P/E ratio of 15.45, a P/E/G ratio of 1.94 and a beta of 1.13.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted 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 previous year, the company posted $6.12 EPS. JPMorgan Chase & Co.'s revenue was down 10.5% on a year-over-year basis. As a group, sell-side analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, October 6th will be issued a dividend of $1.50 per share. The ex-dividend date is Monday, October 6th. This represents a $6.00 annualized dividend and a dividend yield of 2.0%. This is an increase from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. JPMorgan Chase & Co.'s dividend payout ratio is presently 30.79%.

Insider Activity at JPMorgan Chase & Co.

In other 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 transaction, the director directly owned 82,207 shares in the company, valued at $24,492,753.58. The trade was a 10.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.47% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on JPM. Citigroup lifted their price target on JPMorgan Chase & Co. from $275.00 to $325.00 and gave the company a "neutral" rating in a report on Wednesday, September 24th. UBS Group lifted their price target on JPMorgan Chase & Co. from $339.00 to $350.00 and gave the company a "buy" rating in a report on Tuesday, October 7th. Truist Financial lifted their price target on JPMorgan Chase & Co. from $290.00 to $319.00 and gave the company a "hold" rating in a report on Tuesday, September 23rd. Evercore ISI lifted their price target on JPMorgan Chase & Co. from $309.00 to $330.00 and gave the company an "outperform" rating in a report on Tuesday, September 30th. Finally, Cowen reissued a "buy" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, July 16th. Fifteen equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $316.00.

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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