Leo Wealth LLC Purchases 4,358 Shares of JPMorgan Chase & Co. $JPM

Key Points

• Leo Wealth LLC increased its stake in JPMorgan Chase & Co. by 80.8% during the second quarter, acquiring an additional 4,358 shares, bringing its total holdings to 9,753 shares valued at approximately $2.82 million.
• JPMorgan Chase & Co. recently declared a quarterly dividend increase to $1.50 per share, up from $1.40, representing a 2.0% yield.
• Research analysts have a consensus rating of "Hold" on JPMorgan Chase & Co. with a target price of $319.40, suggesting a mixed outlook on the stock.

Leo Wealth LLC lifted its position in JPMorgan Chase & Co. (NYSE:JPM) by 80.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,753 shares of the financial services provider's stock after acquiring an additional 4,358 shares during the quarter. Leo Wealth LLC's holdings in JPMorgan Chase & Co. were worth $2,818,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in JPM. Kingstone Capital Partners Texas LLC grew its position in shares of JPMorgan Chase & Co. by 609,867.5% in 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 buying an additional 72,885,260 shares during the last quarter. Nuveen LLC purchased a new position in shares of JPMorgan Chase & Co. during the 1st quarter valued at approximately $3,972,807,000. National Bank of Canada FI increased its holdings in JPMorgan Chase & Co. by 44.4% in the 1st quarter. National Bank of Canada FI now owns 4,518,740 shares of the financial services provider's stock worth $1,108,415,000 after acquiring an additional 1,388,992 shares in the last quarter. Strs Ohio purchased a new stake in JPMorgan Chase & Co. in the 1st quarter worth $279,389,000. Finally, Alecta Tjanstepension Omsesidigt purchased a new stake in JPMorgan Chase & Co. in the 1st quarter worth $278,493,000. Hedge funds and other institutional investors own 71.55% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. TD Cowen boosted their price target on shares of JPMorgan Chase & Co. from $350.00 to $370.00 and gave the company a "buy" rating in a research report on Friday, October 3rd. Weiss Ratings reaffirmed a "buy (b+)" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, October 8th. DZ Bank reaffirmed a "neutral" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday. HSBC reiterated a "reduce" rating and set a $259.00 price target on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 8th. Finally, Piper Sandler reiterated an "overweight" rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 15th. Fifteen research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, JPMorgan Chase & Co. has a consensus rating of "Hold" and a consensus target price of $319.40.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the stock in a transaction that occurred 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 $24,492,753.58. This represents a 10.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.47% of the stock is owned by corporate insiders.

JPMorgan Chase & Co. Stock Down 0.2%

JPM stock opened at $297.81 on Friday. The company's 50 day moving average price is $302.82 and its 200 day moving average price is $278.54. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.86. JPMorgan Chase & Co. has a fifty-two week low of $202.16 and a fifty-two week high of $318.01. The firm has a market capitalization of $818.91 billion, a price-to-earnings ratio of 14.75, a PEG ratio of 1.81 and a beta of 1.13.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its earnings results on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share for the quarter, topping analysts' consensus estimates of $4.83 by $0.24. JPMorgan Chase & Co. had a net margin of 20.90% and a return on equity of 17.18%. The firm had revenue of $46.43 billion for the quarter, compared to analyst estimates of $44.42 billion. During the same period in the prior year, the firm earned $4.37 earnings per share. The business's quarterly revenue was up 8.8% compared to the same quarter last year. On average, equities research analysts anticipate 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. Shareholders of record on Monday, October 6th will be paid a $1.50 dividend. This is an increase from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. This represents a $6.00 annualized dividend and a yield of 2.0%. The ex-dividend date is Monday, October 6th. JPMorgan Chase & Co.'s payout ratio is currently 29.72%.

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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