Maseco LLP Acquires New Stake in JPMorgan Chase & Co. $JPM

Key Points

• Maseco LLP has acquired a new stake in JPMorgan Chase & Co., purchasing 14,936 shares valued at approximately $4.3 million during the second quarter.
• JPMorgan Chase recently announced an increase in its quarterly dividend from $1.40 to $1.50, representing a yield of 1.9%.
• Analysts have varied views on the stock, with price targets ranging from $235 to $330, indicating a mix of ratings from buy to underperform.

Maseco LLP acquired a new stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 14,936 shares of the financial services provider's stock, valued at approximately $4,328,000.

Other large investors also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its position in JPMorgan Chase & Co. by 11.0% during the fourth quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider's stock valued at $11,682,000 after purchasing an additional 4,841 shares in the last quarter. Mascagni Wealth Management Inc. purchased a new stake in JPMorgan Chase & Co. during the fourth quarter valued at about $81,000. Versant Capital Management Inc raised its position in JPMorgan Chase & Co. by 92.5% during the first quarter. Versant Capital Management Inc now owns 7,310 shares of the financial services provider's stock valued at $1,793,000 after purchasing an additional 3,513 shares in the last quarter. Agate Pass Investment Management LLC raised its position in JPMorgan Chase & Co. by 9.2% during the first quarter. Agate Pass Investment Management LLC now owns 27,599 shares of the financial services provider's stock valued at $6,770,000 after purchasing an additional 2,315 shares in the last quarter. Finally, Sage Capital Advisors llc raised its position in JPMorgan Chase & Co. by 4.4% during the first quarter. Sage Capital Advisors llc now owns 2,026 shares of the financial services provider's stock valued at $497,000 after purchasing an additional 86 shares in the last quarter. Institutional investors own 71.55% of the company's stock.

Analysts Set New Price Targets

JPM has been the topic of several analyst reports. Keefe, Bruyette & Woods lifted their price objective on JPMorgan Chase & Co. from $327.00 to $330.00 and gave the stock an "outperform" rating in a report on Wednesday, July 16th. Robert W. Baird cut JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 price objective on the stock. in a research report on Friday, June 27th. Morgan Stanley boosted their price target on JPMorgan Chase & Co. from $296.00 to $298.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 16th. Piper Sandler restated an "overweight" rating on shares of JPMorgan Chase & Co. in a report on Tuesday, July 15th. Finally, Truist Financial boosted their price objective on shares of JPMorgan Chase & Co. from $290.00 to $319.00 and gave the stock a "hold" rating in a report on Tuesday. Thirteen investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $297.17.

Insider Transactions at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. 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 of the company's stock, valued at approximately $24,492,753.58. The trade was a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Stock Up 0.9%

Shares of NYSE:JPM opened at $316.12 on Friday. 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 company has a market cap of $869.25 billion, a price-to-earnings ratio of 16.22, a PEG ratio of 2.07 and a beta of 1.13. JPMorgan Chase & Co. has a 12 month low of $202.16 and a 12 month high of $317.81. The company has a 50-day moving average price of $298.96 and a 200 day moving average price of $271.68.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, topping analysts' consensus estimates of $4.48 by $0.48. The business had revenue of $44.91 billion for the quarter, compared to analyst estimates of $43.76 billion. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The company's quarterly revenue was down 10.5% compared to the same quarter last year. During the same period last year, the company posted $6.12 earnings per share. As a group, equities research analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, October 6th will be issued 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 1.9%. The ex-dividend date of this dividend is Monday, October 6th. JPMorgan Chase & Co.'s dividend payout ratio is presently 28.73%.

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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