JPMorgan Chase & Co. $JPM Shares Purchased by Solitude Financial Services

Key Points

• Solitude Financial Services increased its stake in JPMorgan Chase & Co. by 9.2% during the second quarter, now holding approximately 10,968 shares valued at $3.18 million.
• JPMorgan recently announced a quarterly dividend increase from $1.40 to $1.50 per share, reflecting a yield of 2.0% and a dividend payout ratio of 30.79%.
• Analysts have varied opinions on JPMorgan's stock, with UBS raising its price target to $350.00 while the stock currently has an average rating of "Hold" and a consensus target price of $318.70.

Solitude Financial Services boosted its holdings in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 9.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,968 shares of the financial services provider's stock after purchasing an additional 928 shares during the quarter. JPMorgan Chase & Co. makes up about 1.2% of Solitude Financial Services' investment portfolio, making the stock its 15th largest holding. Solitude Financial Services' holdings in JPMorgan Chase & Co. were worth $3,180,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in JPM. Kingstone Capital Partners Texas LLC boosted its holdings in JPMorgan Chase & Co. by 609,867.5% in the second quarter. Kingstone Capital Partners Texas LLC now owns 72,897,211 shares of the financial services provider's stock worth $21,133,630,000 after purchasing an additional 72,885,260 shares during the period. Nuveen LLC acquired a new position in shares of JPMorgan Chase & Co. during the first quarter valued at $3,972,807,000. National Bank of Canada FI boosted its holdings in shares of JPMorgan Chase & Co. by 44.4% during the first quarter. National Bank of Canada FI now owns 4,518,740 shares of the financial services provider's stock valued at $1,108,415,000 after acquiring an additional 1,388,992 shares during the period. Strs Ohio acquired a new position in shares of JPMorgan Chase & Co. during the first quarter valued at $279,389,000. Finally, Alecta Tjanstepension Omsesidigt acquired a new position in shares of JPMorgan Chase & Co. during the first quarter valued at $278,493,000. Institutional investors and hedge funds own 71.55% of the company's stock.

Insider Transactions at JPMorgan Chase & Co.

In related news, Director Linda Bammann sold 9,500 shares of the firm's stock in a transaction 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 in the company, valued at approximately $24,492,753.58. This trade represents a 10.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Price Performance

NYSE JPM opened at $302.11 on Wednesday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.25. JPMorgan Chase & Co. has a 1 year low of $202.16 and a 1 year high of $318.01. The stock's 50-day moving average price is $302.11 and its two-hundred day moving average price is $277.61. The company has a market cap of $830.72 billion, a PE ratio of 15.50, a PEG ratio of 1.99 and a beta of 1.13.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $5.07 EPS for the quarter, beating the consensus estimate of $4.83 by $0.24. The business had revenue of $46.43 billion during the quarter, compared to analysts' expectations of $44.42 billion. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.The firm's quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.37 EPS. On average, analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Monday, October 6th. This is an increase 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 2.0%. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is currently 30.79%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on JPM. UBS Group boosted their price target on shares of JPMorgan Chase & Co. from $339.00 to $350.00 and gave the company a "buy" rating in a report on Tuesday, October 7th. Morgan Stanley boosted their price target on shares of JPMorgan Chase & Co. from $298.00 to $336.00 and gave the company an "equal weight" rating in a report on Monday, September 29th. Phillip Securities downgraded shares of JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a report on Wednesday, July 16th. Baird R W downgraded shares of JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a report on Friday, June 27th. Finally, Truist Financial boosted their price target on shares of JPMorgan Chase & Co. from $290.00 to $319.00 and gave the company a "hold" rating in a report on Tuesday, September 23rd. Fifteen investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $318.70.

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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