Patriot Financial Group Insurance Agency LLC Purchases 2,224 Shares of JPMorgan Chase & Co. $JPM

Key Points

• Patriot Financial Group Insurance Agency LLC increased its stake in JPMorgan Chase & Co. by 7.3%, acquiring an additional 2,224 shares, making JPM 14th largest in its portfolio with holdings worth approximately $9.5 million.
• JPMorgan Chase & Co. recently announced an increase in its quarterly dividend to $1.50, representing an annualized yield of 2.0% and reflecting a 30.79% payout ratio.
• JPMorgan Chase had a strong quarterly earning report, posting $4.96 earnings per share, surpassing analysts' estimates, despite a 10.5% decline in revenue compared to the previous year.

Patriot Financial Group Insurance Agency LLC increased its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 7.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,848 shares of the financial services provider's stock after acquiring an additional 2,224 shares during the period. JPMorgan Chase & Co. comprises about 1.1% of Patriot Financial Group Insurance Agency LLC's portfolio, making the stock its 14th largest position. Patriot Financial Group Insurance Agency LLC's holdings in JPMorgan Chase & Co. were worth $9,523,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. DMKC Advisory Services LLC raised its holdings in shares of JPMorgan Chase & Co. by 12.7% during the second quarter. DMKC Advisory Services LLC now owns 12,090 shares of the financial services provider's stock worth $3,505,000 after acquiring an additional 1,361 shares during the period. Cliftonlarsonallen Wealth Advisors LLC raised its holdings in shares of JPMorgan Chase & Co. by 34.3% during the second quarter. Cliftonlarsonallen Wealth Advisors LLC now owns 19,340 shares of the financial services provider's stock worth $5,607,000 after acquiring an additional 4,941 shares during the period. Schaeffer Financial LLC acquired a new stake in shares of JPMorgan Chase & Co. during the second quarter worth $231,000. CHURCHILL MANAGEMENT Corp raised its holdings in shares of JPMorgan Chase & Co. by 109.9% during the second quarter. CHURCHILL MANAGEMENT Corp now owns 75,014 shares of the financial services provider's stock worth $21,747,000 after acquiring an additional 39,275 shares during the period. Finally, Wiser Wealth Management Inc raised its holdings in shares of JPMorgan Chase & Co. by 13.3% during the second quarter. Wiser Wealth Management Inc now owns 1,511 shares of the financial services provider's stock worth $438,000 after acquiring an additional 177 shares during the period. 71.55% of the stock is currently owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock opened at $304.31 on Thursday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.88 and a current ratio of 0.88. The company has a market capitalization of $836.78 billion, a price-to-earnings ratio of 15.61, a PEG ratio of 1.99 and a beta of 1.13. JPMorgan Chase & Co. has a 52 week low of $202.16 and a 52 week high of $318.01. The company has a 50-day simple moving average of $301.19 and a 200 day simple moving average of $275.87.

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

JPMorgan Chase & Co. Increases Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Monday, October 6th. This represents a $6.00 dividend on an annualized basis and a yield of 2.0%. This is an increase from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. JPMorgan Chase & Co.'s payout ratio is presently 30.79%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on JPM. Cowen reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, July 16th. Truist Financial lifted their price target on shares of JPMorgan Chase & Co. from $290.00 to $319.00 and gave the company a "hold" rating in a research note on Tuesday, September 23rd. HSBC reiterated a "reduce" rating and issued a $259.00 price target on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 8th. Bank of America lifted their price objective on shares of JPMorgan Chase & Co. from $330.00 to $340.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. Finally, Evercore ISI lifted their price objective on shares of JPMorgan Chase & Co. from $309.00 to $330.00 and gave the company an "outperform" rating in a research report on Tuesday, September 30th. Fifteen analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $309.95.

Insider Transactions 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 value of $2,830,430.00. Following the completion of the sale, 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.47% of the stock is owned by corporate insiders.

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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