Lewis Asset Management LLC Grows Stock Holdings in JPMorgan Chase & Co. $JPM

Key Points

• Lewis Asset Management LLC increased its stake in JPMorgan Chase & Co. by 49.1% in the second quarter, now holding 2,865 shares valued at approximately $831,000.
• JPMorgan Chase & Co. declared a quarterly dividend of $1.50 per share, up from the previous $1.40, indicating a strong payout ratio of 28.73% and a yield of 1.9%.
• The company recently beat earnings expectations with $4.96 EPS reported for the last quarter, surpassing the consensus estimate of $4.48.

Lewis Asset Management LLC lifted its stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 49.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,865 shares of the financial services provider's stock after buying an additional 944 shares during the period. Lewis Asset Management LLC's holdings in JPMorgan Chase & Co. were worth $831,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. First Command Advisory Services Inc. boosted its stake in shares of JPMorgan Chase & Co. by 0.4% in the first quarter. First Command Advisory Services Inc. now owns 9,306 shares of the financial services provider's stock valued at $2,283,000 after purchasing an additional 40 shares during the period. Black Swift Group LLC boosted its position in JPMorgan Chase & Co. by 0.7% in the 1st quarter. Black Swift Group LLC now owns 5,759 shares of the financial services provider's stock valued at $1,413,000 after buying an additional 40 shares during the last quarter. Beacon Bridge Wealth Partners LLC boosted its position in JPMorgan Chase & Co. by 1.8% in the 1st quarter. Beacon Bridge Wealth Partners LLC now owns 2,231 shares of the financial services provider's stock valued at $547,000 after buying an additional 40 shares during the last quarter. Jackson Creek Investment Advisors LLC boosted its position in JPMorgan Chase & Co. by 1.7% in the 1st quarter. Jackson Creek Investment Advisors LLC now owns 2,470 shares of the financial services provider's stock valued at $606,000 after buying an additional 41 shares during the last quarter. Finally, Vawter Financial Ltd. boosted its position in JPMorgan Chase & Co. by 1.0% in the 1st quarter. Vawter Financial Ltd. now owns 3,971 shares of the financial services provider's stock valued at $974,000 after buying an additional 41 shares during the last quarter. Hedge funds and other institutional investors own 71.55% of the company's stock.

Insider Activity at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the business's stock in a transaction dated Tuesday, September 2nd. The shares were 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 approximately $24,492,753.58. The trade was a 10.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.47% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on JPM. Truist Financial increased their target price on JPMorgan Chase & Co. from $280.00 to $290.00 and gave the company a "hold" rating in a research note on Wednesday, July 9th. Cowen reaffirmed a "buy" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, July 16th. Piper Sandler restated an "overweight" rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 15th. Keefe, Bruyette & Woods raised their price objective on JPMorgan Chase & Co. from $327.00 to $330.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 16th. Finally, Zacks Research cut JPMorgan Chase & Co. from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 8th. 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's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $292.78.

JPMorgan Chase & Co. Stock Performance

JPM opened at $312.53 on Wednesday. The business's 50 day moving average is $297.43 and its 200-day moving average is $270.22. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.25. The stock has a market cap of $859.37 billion, a PE ratio of 16.04, a price-to-earnings-growth ratio of 2.07 and a beta of 1.13. JPMorgan Chase & Co. has a twelve month low of $202.16 and a twelve month high of $316.31.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its 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 the consensus estimate of $43.76 billion. During the same quarter in the previous year, the business earned $6.12 EPS. The firm's revenue for the quarter was down 10.5% on a year-over-year basis. On average, analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share 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. Shareholders of record on Monday, October 6th will be given a dividend of $1.50 per share. This is a positive change from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. The ex-dividend date is Monday, October 6th. This represents a $6.00 dividend on an annualized basis 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.

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