Stokes Capital Advisors LLC Has $13.72 Million Stock Position in JPMorgan Chase & Co. $JPM

Key Points

• Stokes Capital Advisors LLC has increased its stake in JPMorgan Chase & Co. by 2.7%, now holding 47,312 shares valued at approximately $13.7 million, making it the firm's 4th largest position.
• The company plans to pay a quarterly dividend of $1.50 per share on October 31, representing an increase from the previous $1.40 dividend, with an annualized yield of 1.9%.
• JPMorgan Chase reported a quarterly earnings of $4.96 EPS, exceeding estimates, although revenue declined 10.5% year-over-year, highlighting a challenging economic environment.

Stokes Capital Advisors LLC boosted its stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 2.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 47,312 shares of the financial services provider's stock after purchasing an additional 1,223 shares during the period. JPMorgan Chase & Co. comprises approximately 3.4% of Stokes Capital Advisors LLC's investment portfolio, making the stock its 4th biggest position. Stokes Capital Advisors LLC's holdings in JPMorgan Chase & Co. were worth $13,716,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the company. Bank of New York Mellon Corp increased its stake in JPMorgan Chase & Co. by 1.9% in the 1st 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. GAMMA Investing LLC boosted its holdings in JPMorgan Chase & Co. by 25,861.9% in the 1st quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider's stock valued at $5,778,289,000 after purchasing an additional 23,465,278 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of JPMorgan Chase & Co. by 2.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 20,548,182 shares of the financial services provider's stock worth $5,040,469,000 after acquiring an additional 548,853 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of JPMorgan Chase & Co. by 5.1% during the 1st 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 worth $4,523,588,000 after acquiring an additional 890,553 shares during the last quarter. Finally, Nuveen LLC purchased a new position in shares of JPMorgan Chase & Co. in the first quarter worth about $3,972,807,000. Institutional investors own 71.55% of the company's stock.

Analyst Upgrades and Downgrades

JPM has been the topic of several research analyst reports. Zacks Research cut shares of JPMorgan Chase & Co. from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 8th. Citigroup set a $275.00 price target on shares of JPMorgan Chase & Co. and gave the stock a "buy" rating in a research note on Monday, July 7th. Truist Financial lifted their price objective on shares of JPMorgan Chase & Co. from $280.00 to $290.00 and gave the stock a "hold" rating in a research report on Wednesday, July 9th. Bank of America upped their price objective on shares of JPMorgan Chase & Co. from $330.00 to $340.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. Finally, Wells Fargo & Company boosted their target price on shares of JPMorgan Chase & Co. from $325.00 to $345.00 and gave the company an "overweight" rating in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $292.78.

JPMorgan Chase & Co. Stock Performance

NYSE:JPM traded up $1.02 during midday trading on Friday, reaching $314.25. The stock had a trading volume of 23,513,937 shares, compared to its average volume of 7,166,939. The firm has a fifty day simple moving average of $296.43 and a two-hundred day simple moving average of $269.15. JPMorgan Chase & Co. has a 12-month low of $202.16 and a 12-month high of $315.80. 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 stock has a market cap of $864.11 billion, a P/E ratio of 16.12, a P/E/G ratio of 2.08 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.48 by $0.48. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.The business had revenue of $44.91 billion during the quarter, compared to the consensus estimate of $43.76 billion. During the same quarter in the previous year, the company posted $6.12 EPS. The business's revenue was down 10.5% on a year-over-year basis. On average, equities analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, October 6th will be given a dividend of $1.50 per share. The ex-dividend date of this dividend is Monday, October 6th. This represents a $6.00 annualized dividend and a dividend yield of 1.9%. This is an increase from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. JPMorgan Chase & Co.'s dividend payout ratio is currently 28.73%.

Insider Activity

In related news, Director Linda Bammann sold 9,500 shares of the company's 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 sale, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.47% of the company's stock.

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.