Vest Financial LLC Increases Holdings in JPMorgan Chase & Co. $JPM

Key Points

• Vest Financial LLC increased its holdings in JPMorgan Chase & Co. by 5.7%, totaling 194,666 shares valued at approximately $56.4 million.
• Institutional investors own 71.55% of JPMorgan Chase & Co., with Kingstone Capital Partners increasing its stake significantly by nearly 609,867.5%.
• JPMorgan Chase & Co. has announced a quarterly dividend increase to $1.50 per share, reflecting an annualized dividend of $6.00 and a yield of 2.0%.

Vest Financial LLC raised its stake in JPMorgan Chase & Co. (NYSE:JPM) by 5.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 194,666 shares of the financial services provider's stock after acquiring an additional 10,525 shares during the period. Vest Financial LLC's holdings in JPMorgan Chase & Co. were worth $56,436,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of JPM. Kingstone Capital Partners Texas LLC increased its stake in JPMorgan Chase & Co. by 609,867.5% during 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 purchasing an additional 72,885,260 shares in the last quarter. Nuveen LLC bought a new stake in shares of JPMorgan Chase & Co. during the first quarter valued at approximately $3,972,807,000. Montrusco Bolton Investments Inc. purchased a new position in JPMorgan Chase & Co. in the 2nd quarter worth approximately $485,802,000. National Bank of Canada FI raised its holdings in 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 acquiring an additional 1,388,992 shares during the last quarter. Finally, Strs Ohio bought a new position in JPMorgan Chase & Co. in the 1st quarter valued at approximately $279,389,000. 71.55% of the stock is currently owned by institutional investors.

Insider Activity at JPMorgan Chase & Co.

In other news, Director Linda Bammann sold 9,500 shares of the company's 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 completion of the sale, the director directly owned 82,207 shares in the company, valued at $24,492,753.58. This represents a 10.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.47% of the stock is owned by company insiders.

JPMorgan Chase & Co. Trading Up 0.1%

JPMorgan Chase & Co. stock opened at $294.37 on Friday. JPMorgan Chase & Co. has a 52-week low of $202.16 and a 52-week high of $318.01. The company has a market cap of $809.44 billion, a P/E ratio of 14.58, a P/E/G ratio of 1.77 and a beta of 1.13. The company has a quick ratio of 0.88, a current ratio of 0.86 and a debt-to-equity ratio of 1.26. The business has a 50-day simple moving average of $303.23 and a two-hundred day simple moving average of $280.54.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.83 by $0.24. The company had revenue of $46.43 billion for the quarter, compared to the consensus estimate of $44.42 billion. JPMorgan Chase & Co. had a net margin of 20.90% and a return on equity of 17.18%. The firm's revenue was up 8.8% compared to the same quarter last year. During the same quarter last year, the firm posted $4.37 earnings per share. Analysts predict that JPMorgan Chase & Co. will post 18.1 EPS 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. Stockholders of record on Monday, October 6th will be given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.0%. 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 presently 29.72%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Piper Sandler reissued an "overweight" rating on shares of JPMorgan Chase & Co. in a report on Tuesday, July 15th. Truist Financial lifted their price objective on JPMorgan Chase & Co. from $290.00 to $319.00 and gave the stock a "hold" rating in a report on Tuesday, September 23rd. Bank of America boosted their target price on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. Wolfe Research upped their target price on shares of JPMorgan Chase & Co. from $342.00 to $346.00 and gave the company an "outperform" rating in a research note on Thursday, October 16th. Finally, Evercore ISI lifted their price target on shares of JPMorgan Chase & Co. from $309.00 to $330.00 and gave the stock an "outperform" rating in a research note on Tuesday, September 30th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $322.27.

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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