Verus Financial Partners Inc. Boosts Holdings in JPMorgan Chase & Co. $JPM

Verus Financial Partners Inc. grew its position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 38.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,054 shares of the financial services provider's stock after buying an additional 854 shares during the period. Verus Financial Partners Inc.'s holdings in JPMorgan Chase & Co. were worth $865,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Kingstone Capital Partners Texas LLC grew its stake 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 valued at $21,133,630,000 after buying an additional 72,885,260 shares during the period. Bank of New York Mellon Corp boosted its position in shares of JPMorgan Chase & Co. by 1.9% during the 1st quarter. Bank of New York Mellon Corp now owns 24,801,153 shares of the financial services provider's stock worth $6,083,723,000 after purchasing an additional 454,226 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of JPMorgan Chase & Co. by 2.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 20,548,182 shares of the financial services provider's stock worth $5,040,469,000 after purchasing an additional 548,853 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of JPMorgan Chase & Co. by 5.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 18,441,044 shares of the financial services provider's stock worth $4,523,588,000 after purchasing an additional 890,553 shares during the period. Finally, Nuveen LLC purchased a new position in shares of JPMorgan Chase & Co. during the 1st quarter worth approximately $3,972,807,000. Hedge funds and other institutional investors own 71.55% of the company's stock.

Insider Buying and Selling

In related news, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction 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 sale, the director directly owned 82,207 shares in the company, valued at $24,492,753.58. This trade represents a 10.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.47% of the stock is owned by corporate insiders.

JPMorgan Chase & Co. Price Performance

Shares of JPM opened at $305.35 on Friday. The firm's fifty day simple moving average is $301.37 and its 200-day simple moving average is $276.26. JPMorgan Chase & Co. has a twelve month low of $202.16 and a twelve month high of $318.01. 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 market capitalization of $839.64 billion, a price-to-earnings ratio of 15.67, a PEG ratio of 1.96 and a beta of 1.13.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, topping 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 firm had revenue of $44.91 billion for the quarter, compared to analyst estimates of $43.76 billion. During the same period last year, the business earned $6.12 EPS. JPMorgan Chase & Co.'s revenue for the quarter was down 10.5% compared to the same quarter last year. Equities analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, October 6th will be paid a dividend of $1.50 per share. The ex-dividend date is Monday, October 6th. This represents a $6.00 annualized dividend 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 dividend payout ratio (DPR) is 30.79%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on JPM shares. Piper Sandler reiterated an "overweight" rating on shares of JPMorgan Chase & Co. in a report on Tuesday, July 15th. Royal Bank Of Canada reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a report on Thursday, September 11th. Bank of America increased their target price on shares of JPMorgan Chase & Co. from $330.00 to $340.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th. The Goldman Sachs Group increased their target price on shares of JPMorgan Chase & Co. from $336.00 to $350.00 and gave the stock a "buy" rating in a report on Friday, October 3rd. Finally, TD Cowen increased their target price on shares of JPMorgan Chase & Co. from $350.00 to $370.00 and gave the stock a "buy" rating in a report on Friday, October 3rd. Fourteen equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, JPMorgan Chase & Co. presently has an average rating of "Hold" and a consensus target price of $313.89.

About JPMorgan Chase & Co.

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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