StrongBox Wealth LLC Buys 840 Shares of JPMorgan Chase & Co. $JPM

Key Points

• StrongBox Wealth LLC increased its stake in JPMorgan Chase & Co. by 4.4%, holding 20,107 shares now valued at approximately $5.83 million.
• Several institutional investors, including Balefire LLC and Inspirion Wealth Advisors LLC, also boosted their positions in JPMorgan Chase this quarter, reflecting strong interest from hedge funds.
• JPMorgan Chase recently declared a quarterly dividend increase to $1.50 per share, up from $1.40, with an annualized yield of 1.9%.

StrongBox Wealth LLC increased its position in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 4.4% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 20,107 shares of the financial services provider's stock after acquiring an additional 840 shares during the period. JPMorgan Chase & Co. comprises about 2.2% of StrongBox Wealth LLC's portfolio, making the stock its 15th biggest position. StrongBox Wealth LLC's holdings in JPMorgan Chase & Co. were worth $5,829,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC boosted its holdings in JPMorgan Chase & Co. by 11.0% in the fourth quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider's stock valued at $11,682,000 after acquiring an additional 4,841 shares during the last quarter. Bank Pictet & Cie Europe AG boosted its stake in shares of JPMorgan Chase & Co. by 0.6% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 192,182 shares of the financial services provider's stock valued at $46,068,000 after purchasing an additional 1,229 shares during the last quarter. Highview Capital Management LLC DE boosted its stake in shares of JPMorgan Chase & Co. by 16.1% in the 4th quarter. Highview Capital Management LLC DE now owns 13,623 shares of the financial services provider's stock valued at $3,266,000 after purchasing an additional 1,893 shares during the last quarter. Two Sigma Advisers LP bought a new stake in shares of JPMorgan Chase & Co. in the 4th quarter valued at $12,657,000. Finally, Mpwm Advisory Solutions LLC bought a new stake in JPMorgan Chase & Co. during the fourth quarter valued at $72,000. 71.55% of the stock is currently owned by institutional investors.

JPMorgan Chase & Co. Price Performance

JPMorgan Chase & Co. stock traded up $1.02 during midday trading on Friday, reaching $314.25. 23,513,937 shares of the stock were exchanged, compared to its average volume of 7,166,939. The company's fifty day moving average is $296.43 and its 200-day moving average is $269.27. 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 firm has a market cap of $864.11 billion, a PE ratio of 16.12, a PEG ratio of 2.09 and a beta of 1.13. JPMorgan Chase & Co. has a 52 week low of $202.16 and a 52 week high of $315.80.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share for the quarter, topping the consensus estimate of $4.48 by $0.48. The firm had revenue of $44.91 billion for the quarter, compared to analysts' expectations 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 quarterly revenue was down 10.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $6.12 earnings per share. On average, sell-side analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS 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. Stockholders of record on Monday, October 6th will be issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Monday, October 6th. This is a positive change from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. JPMorgan Chase & Co.'s payout ratio is currently 28.73%.

Wall Street Analyst Weigh In

JPM has been the topic of several research analyst reports. Royal Bank Of Canada restated a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Thursday, September 11th. Wells Fargo & Company increased their target price on shares of JPMorgan Chase & Co. from $325.00 to $345.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 16th. Keefe, Bruyette & Woods increased their price objective on shares of JPMorgan Chase & Co. from $327.00 to $330.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 16th. Truist Financial increased their price target on JPMorgan Chase & Co. from $280.00 to $290.00 and gave the stock a "hold" rating in a report on Wednesday, July 9th. Finally, Evercore ISI set a $298.00 target price on JPMorgan Chase & Co. and gave the stock an "outperform" rating in a report on Monday, July 7th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $292.78.

Insider Buying and Selling

In related news, Director Linda Bammann sold 9,500 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $297.94, for a total value of $2,830,430.00. Following the transaction, the director owned 82,207 shares of the company's stock, valued at $24,492,753.58. This represents a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.47% of the stock is currently 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.