SouthState Corp Has $39.74 Million Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Key Points

• SouthState Corp increased its stake in JPMorgan Chase & Co. by 5.1% in the 1st quarter, holding 161,988 shares valued at approximately $39.74 million.
• JPMorgan's latest earnings report showed a profit of $4.96 per share, beating analyst expectations, despite a 10.5% year-over-year revenue decline.
• The firm declared a quarterly dividend of $1.40, yielding 1.9%, with a payout ratio of 28.73%.

SouthState Corp boosted its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 5.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 161,988 shares of the financial services provider's stock after purchasing an additional 7,926 shares during the quarter. JPMorgan Chase & Co. comprises 1.8% of SouthState Corp's holdings, making the stock its 10th biggest position. SouthState Corp's holdings in JPMorgan Chase & Co. were worth $39,736,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in JPM. MJT & Associates Financial Advisory Group Inc. acquired a new position in shares of JPMorgan Chase & Co. in the 1st quarter valued at approximately $28,000. University of Illinois Foundation acquired a new position in shares of JPMorgan Chase & Co. in the 1st quarter valued at approximately $30,000. Curat Global LLC acquired a new position in shares of JPMorgan Chase & Co. in the 1st quarter valued at approximately $33,000. Measured Risk Portfolios Inc. acquired a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at approximately $44,000. Finally, Minot DeBlois Advisors LLC acquired a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at approximately $54,000. 71.55% of the stock is owned by institutional investors.

JPMorgan Chase & Co. Stock Up 1.2%

JPM opened at $294.03 on Friday. JPMorgan Chase & Co. has a 1-year low of $200.61 and a 1-year high of $301.29. The stock's fifty day simple moving average is $285.93 and its 200 day simple moving average is $263.45. 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 $808.52 billion, a PE ratio of 15.09, a price-to-earnings-growth ratio of 1.93 and a beta of 1.11.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share for the quarter, beating analysts' consensus estimates 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 business had revenue of $44.91 billion for the quarter, compared to analysts' expectations of $43.76 billion. During the same quarter in the prior year, the business earned $6.12 EPS. The firm's revenue for the quarter was down 10.5% on a year-over-year basis. As a group, research analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Thursday, July 3rd were paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date was Thursday, July 3rd. JPMorgan Chase & Co.'s dividend payout ratio is 28.73%.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 2,821 shares of the company's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $265.71, for a total value of $749,567.91. Following the transaction, the general counsel directly owned 68,757 shares of the company's stock, valued at $18,269,422.47. This represents a 3.94% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Jennifer Piepszak sold 6,128 shares of the company's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $262.47, for a total value of $1,608,416.16. Following the completion of the transaction, the chief operating officer directly owned 62,455 shares in the company, valued at approximately $16,392,563.85. This represents a 8.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 15,557 shares of company stock worth $4,113,796. 0.47% of the stock is owned by company insiders.

Analysts Set New Price Targets

JPM has been the subject of several research analyst reports. Morgan Stanley boosted their price objective on JPMorgan Chase & Co. from $296.00 to $298.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 16th. TD Securities reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, June 4th. Cowen reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, July 16th. Keefe, Bruyette & Woods upped their price target on JPMorgan Chase & Co. from $327.00 to $330.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 16th. Finally, Piper Sandler reaffirmed an "overweight" rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 15th. Three analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $288.68.

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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