Three Bridge Wealth Advisors LLC Raises Stock Position in JPMorgan Chase & Co. $JPM

Key Points

• Three Bridge Wealth Advisors LLC increased its stake in JPMorgan Chase & Co. by 46.3% in Q2, now owning 2,984 shares worth approximately $865,000.
• JPMorgan Chase & Co. reported earnings of $4.96 per share for the last quarter, exceeding estimates, despite a 10.5% decline in quarterly revenue compared to the previous year.
• The company announced a dividend increase to $1.50 per share, with an annualized yield of 2.0%, reflecting a positive growth outlook.

Three Bridge Wealth Advisors LLC lifted its position in JPMorgan Chase & Co. (NYSE:JPM) by 46.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,984 shares of the financial services provider's stock after buying an additional 944 shares during the period. Three Bridge Wealth Advisors LLC's holdings in JPMorgan Chase & Co. were worth $865,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. MJT & Associates Financial Advisory Group Inc. purchased a new position in shares of JPMorgan Chase & Co. in the 1st quarter worth approximately $28,000. University of Illinois Foundation purchased a new position in shares of JPMorgan Chase & Co. in the 1st quarter worth approximately $30,000. Ryan Investment Management Inc. purchased a new position in shares of JPMorgan Chase & Co. in the 2nd quarter worth approximately $37,000. Christopher J. Hasenberg Inc grew its position in shares of JPMorgan Chase & Co. by 212.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider's stock worth $45,000 after buying an additional 106 shares during the last quarter. Finally, Goodman Advisory Group LLC purchased a new position in shares of JPMorgan Chase & Co. in the 1st quarter worth approximately $76,000. Hedge funds and other institutional investors own 71.55% of the company's stock.

JPMorgan Chase & Co. Stock Performance

Shares of NYSE JPM opened at $301.12 on Monday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.25. JPMorgan Chase & Co. has a 12 month low of $202.16 and a 12 month high of $318.01. The company has a 50 day simple moving average of $301.61 and a two-hundred day simple moving average of $276.98. The stock has a market cap of $828.00 billion, a price-to-earnings ratio of 15.45, a PEG ratio of 1.94 and a beta of 1.13.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, beating the consensus estimate 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 analysts' expectations of $43.76 billion. During the same period in the previous year, the business posted $6.12 EPS. The business's quarterly revenue was down 10.5% compared to the same quarter last year. As a group, 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 paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 2.0%. The ex-dividend date is Monday, October 6th. This is a positive change from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is presently 30.79%.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the completion of the sale, the director directly owned 82,207 shares in the company, valued at approximately $24,492,753.58. The trade was a 10.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.47% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Truist Financial lifted their price objective on shares of JPMorgan Chase & Co. from $290.00 to $319.00 and gave the stock a "hold" rating in a research report on Tuesday, September 23rd. TD Cowen boosted their target price on shares of JPMorgan Chase & Co. from $350.00 to $370.00 and gave the stock a "buy" rating in a research report on Friday, October 3rd. Deutsche Bank Aktiengesellschaft boosted their target price on shares of JPMorgan Chase & Co. from $300.00 to $320.00 and gave the stock a "hold" rating in a research report on Tuesday, September 30th. Piper Sandler reissued an "overweight" rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 15th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of JPMorgan Chase & Co. from $330.00 to $354.00 and gave the stock an "outperform" rating in a research report on Friday. Fifteen investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $316.00.

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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