Kercheville Advisors LLC Boosts Stock Holdings in JPMorgan Chase & Co. $JPM

Key Points

• Kercheville Advisors LLC significantly increased its holdings in JPMorgan Chase & Co. by 342.2%, bringing its total shares to 9,065, valued at approximately $2.6 million.
• Institutional investors own 71.55% of JPMorgan Chase & Co. stock, with notable increases in stakes from Kingstone Capital Partners and Bank of New York Mellon.
• JPMorgan recently announced a quarterly dividend increase to $1.50 per share, reflecting a 2.0% dividend yield and an annualized amount of $6.00.

Kercheville Advisors LLC grew its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 342.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,065 shares of the financial services provider's stock after acquiring an additional 7,015 shares during the quarter. JPMorgan Chase & Co. accounts for approximately 0.9% of Kercheville Advisors LLC's portfolio, making the stock its 28th largest holding. Kercheville Advisors LLC's holdings in JPMorgan Chase & Co. were worth $2,628,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Kingstone Capital Partners Texas LLC raised its stake in shares of JPMorgan Chase & Co. by 609,867.5% during the 2nd 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. Bank of New York Mellon Corp raised its stake in shares of JPMorgan Chase & Co. by 1.9% during the 1st quarter. Bank of New York Mellon Corp now owns 24,801,153 shares of the financial services provider's stock worth $6,083,723,000 after purchasing an additional 454,226 shares during the period. Goldman Sachs Group Inc. raised its stake 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 purchasing an additional 548,853 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake 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 purchasing an additional 890,553 shares during the period. Finally, Nuveen LLC bought a new stake in shares of JPMorgan Chase & Co. during the 1st quarter worth $3,972,807,000. 71.55% of the stock is currently owned by institutional investors.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, Director Linda Bammann sold 9,500 shares of the company's stock in a transaction dated 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 in the company, valued at $24,492,753.58. This represents a 10.36% decrease in their ownership of the stock. The sale was disclosed in a 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 equities research analysts have recently commented on the company. Robert W. Baird cut JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 target price on the stock. in a research note on Friday, June 27th. Deutsche Bank Aktiengesellschaft lifted their target price on JPMorgan Chase & Co. from $300.00 to $320.00 and gave the stock a "hold" rating in a research note on Tuesday, September 30th. Daiwa Capital Markets lifted their target price on JPMorgan Chase & Co. from $330.00 to $332.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 8th. Weiss Ratings reiterated a "buy (b+)" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, October 8th. Finally, Piper Sandler restated an "overweight" rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 15th. Fifteen equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $316.00.

JPMorgan Chase & Co. Trading Down 1.4%

Shares of JPMorgan Chase & Co. stock opened at $301.12 on Monday. The stock's 50-day simple moving average is $301.61 and its 200 day simple moving average is $276.98. JPMorgan Chase & Co. has a 52-week low of $202.16 and a 52-week high of $318.01. The stock has a market capitalization 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. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.88 and a current ratio of 0.88.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share for the quarter, beating 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 firm had revenue of $44.91 billion for the quarter, compared to analysts' expectations of $43.76 billion. During the same period in the prior year, the business posted $6.12 earnings per share. The company's revenue was down 10.5% on a year-over-year basis. 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 business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, October 6th will be given a dividend of $1.50 per share. This is a boost from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. This represents a $6.00 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Monday, October 6th. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is currently 30.79%.

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.

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