JPMorgan Chase & Co. $JPM Stake Lifted by Fiduciary Alliance LLC

Key Points

• Fiduciary Alliance LLC increased its stake in JPMorgan Chase & Co. by 2.5%, owning a total of 146,410 shares valued at approximately $42.4 million, making it the firm's 4th largest position.
• JPMorgan Chase recently raised its quarterly dividend to $1.50 from $1.40, reflecting a dividend yield of 1.9% and a current payout ratio of 28.73%.
• Several analysts have recently increased their price targets on JPMorgan Chase, with Wells Fargo raising its target to $345.00 and Citigroup setting theirs at $275.00, indicating strong confidence in the stock.

Fiduciary Alliance LLC boosted its position in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 2.5% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 146,410 shares of the financial services provider's stock after purchasing an additional 3,516 shares during the quarter. JPMorgan Chase & Co. comprises about 3.2% of Fiduciary Alliance LLC's portfolio, making the stock its 4th biggest position. Fiduciary Alliance LLC's holdings in JPMorgan Chase & Co. were worth $42,446,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. MJT & Associates Financial Advisory Group Inc. purchased a new position in JPMorgan Chase & Co. during the 1st quarter worth $28,000. University of Illinois Foundation purchased a new position in JPMorgan Chase & Co. during the 1st quarter worth $30,000. Curat Global LLC purchased a new position in JPMorgan Chase & Co. during the 1st quarter worth $33,000. Christopher J. Hasenberg Inc increased its holdings in shares of JPMorgan Chase & Co. by 212.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider's stock valued at $45,000 after acquiring an additional 106 shares during the period. Finally, Capital A Wealth Management LLC purchased a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at $64,000. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

JPM has been the topic of a number of analyst reports. Wells Fargo & Company lifted their price target on JPMorgan Chase & Co. from $325.00 to $345.00 and gave the company an "overweight" rating in a report on Tuesday. Citigroup set a $275.00 price target on JPMorgan Chase & Co. and gave the company a "buy" rating in a report on Monday, July 7th. Morgan Stanley lifted their price target on JPMorgan Chase & Co. from $296.00 to $298.00 and gave the company an "equal weight" rating in a report on Wednesday, July 16th. Truist Financial lifted their price target on JPMorgan Chase & Co. from $280.00 to $290.00 and gave the company a "hold" rating in a report on Wednesday, July 9th. Finally, TD Securities reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, June 4th. One 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. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $292.78.

Insider Activity

In other news, Director Linda Bammann sold 9,500 shares of the business's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $297.94, for a total value of $2,830,430.00. Following the completion of the transaction, the director owned 82,207 shares of the company's stock, valued at $24,492,753.58. The trade was a 10.36% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.47% of the stock is currently owned by company insiders.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock opened at $309.19 on Wednesday. The stock has a market cap of $850.20 billion, a PE ratio of 15.86, a price-to-earnings-growth ratio of 2.05 and a beta of 1.13. The business has a 50-day simple moving average of $294.81 and a 200-day simple moving average of $268.04. 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 52-week low of $202.16 and a 52-week high of $310.90.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.48 by $0.48. The business had revenue of $44.91 billion during the quarter, compared to analysts' expectations of $43.76 billion. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.The company's revenue for the quarter was down 10.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $6.12 EPS. On average, equities analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, October 6th will be issued a $1.50 dividend. This is a boost 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 annualized dividend and a dividend yield of 1.9%. JPMorgan Chase & Co.'s payout ratio is presently 28.73%.

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.

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.