Spectrum Strategic Capital Management LLC Purchases 3,945 Shares of JPMorgan Chase & Co. $JPM

Key Points

• Spectrum Strategic Capital Management LLC significantly increased its holdings in JPMorgan Chase & Co. by 423.3%, acquiring an additional 3,945 shares during the 2nd quarter, bringing its total to 4,877 shares valued at approximately $1.41 million.
• JPMorgan Chase recently announced a quarterly dividend increase from $1.40 to $1.50, with a yield of 1.9%, set for payment on October 31st.
• Market analysts have mixed ratings on JPMorgan Chase, with 15 analysts rating it as a Buy while others have reduced their ratings to Hold or Sell, reflecting varying outlooks on the company's performance.

Spectrum Strategic Capital Management LLC raised its position in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 423.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,877 shares of the financial services provider's stock after acquiring an additional 3,945 shares during the quarter. JPMorgan Chase & Co. makes up approximately 0.7% of Spectrum Strategic Capital Management LLC's holdings, making the stock its 27th largest position. Spectrum Strategic Capital Management LLC's holdings in JPMorgan Chase & Co. were worth $1,414,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Kingstone Capital Partners Texas LLC boosted 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 purchasing an additional 72,885,260 shares in the last quarter. Nuveen LLC bought a new stake in shares of JPMorgan Chase & Co. in the 1st quarter worth approximately $3,972,807,000. National Bank of Canada FI boosted its position in shares of 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 purchasing an additional 1,388,992 shares in the last quarter. Strs Ohio bought a new stake in shares of JPMorgan Chase & Co. in the 1st quarter worth approximately $279,389,000. Finally, Alecta Tjanstepension Omsesidigt bought a new stake in shares of JPMorgan Chase & Co. in the 1st quarter worth approximately $278,493,000. 71.55% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on JPM shares. Royal Bank Of Canada reissued a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Thursday, September 11th. Robert W. Baird lowered shares of JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 price objective for the company. in a report on Friday, June 27th. HSBC restated a "reduce" rating and issued a $259.00 price objective on shares of JPMorgan Chase & Co. in a report on Tuesday, July 8th. Piper Sandler restated an "overweight" rating on shares of JPMorgan Chase & Co. in a report on Tuesday, July 15th. Finally, Citigroup boosted their price objective on shares of JPMorgan Chase & Co. from $275.00 to $325.00 and gave the stock a "neutral" rating in a report on Wednesday, September 24th. Fifteen investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, JPMorgan Chase & Co. presently has an average rating of "Hold" and a consensus target price of $307.70.

JPMorgan Chase & Co. Price Performance

Shares of JPM opened at $309.89 on Monday. The firm has a market cap of $852.11 billion, a PE ratio of 15.90, a P/E/G ratio of 2.04 and a beta of 1.13. 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 firm has a fifty day simple moving average of $300.67 and a two-hundred day simple moving average of $274.97. JPMorgan Chase & Co. has a 1-year low of $202.16 and a 1-year high of $318.01.

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 analysts' consensus estimates of $4.48 by $0.48. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The business had revenue of $44.91 billion during the quarter, compared to analyst estimates of $43.76 billion. During the same period in the previous year, the business earned $6.12 EPS. The company's quarterly revenue was down 10.5% compared to the same quarter last year. On average, equities analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors 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 annualized dividend and a yield of 1.9%. This is an increase from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. JPMorgan Chase & Co.'s payout ratio is currently 28.73%.

Insiders Place Their Bets

In related news, Director Linda Bammann sold 9,500 shares of the company's 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 completion of the transaction, the director owned 82,207 shares of the company's stock, valued at approximately $24,492,753.58. This represents a 10.36% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.47% of the company's stock.

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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