Waypoint Wealth Partners Inc. Takes $586,000 Position in JPMorgan Chase & Co. $JPM

Key Points

• Waypoint Wealth Partners Inc. invested $586,000 to acquire 2,021 shares of JPMorgan Chase & Co. in the second quarter, showcasing institutional interest in the financial giant.
• JPMorgan recently announced a quarterly dividend increase from $1.40 to $1.50, reflecting a commitment to returning value to shareholders.
• Analysts have mixed forecasts for JPMorgan's stock, with a consensus rating of "Moderate Buy" and an average price target of $292.78, indicating expectations for growth despite recent declines in EPS and revenue.

Waypoint Wealth Partners Inc. bought a new stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 2,021 shares of the financial services provider's stock, valued at approximately $586,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. NorthCrest Asset Manangement LLC raised its holdings in shares of JPMorgan Chase & Co. by 0.5% in the 2nd quarter. NorthCrest Asset Manangement LLC now owns 220,076 shares of the financial services provider's stock valued at $65,142,000 after purchasing an additional 1,173 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in JPMorgan Chase & Co. by 14.2% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 2,031,381 shares of the financial services provider's stock valued at $601,289,000 after buying an additional 252,986 shares during the last quarter. Strathmore Capital Advisors Inc. acquired a new position in JPMorgan Chase & Co. in the 2nd quarter valued at about $834,000. Atticus Wealth Management LLC grew its stake in JPMorgan Chase & Co. by 65.4% in the 2nd quarter. Atticus Wealth Management LLC now owns 6,453 shares of the financial services provider's stock valued at $1,871,000 after buying an additional 2,551 shares during the last quarter. Finally, RFG Holdings Inc. grew its stake in JPMorgan Chase & Co. by 13.4% in the 2nd quarter. RFG Holdings Inc. now owns 1,089 shares of the financial services provider's stock valued at $316,000 after buying an additional 129 shares during the last quarter. 71.55% of the stock is owned by institutional investors.

Analyst Ratings Changes

JPM has been the subject of a number of analyst reports. Phillip Securities downgraded shares of JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, July 16th. Citigroup set a $275.00 price target on shares of JPMorgan Chase & Co. and gave the stock a "buy" rating in a report on Monday, July 7th. Zacks Research downgraded shares of JPMorgan Chase & Co. from a "strong-buy" rating to a "hold" rating in a report on Monday, September 8th. Cowen reaffirmed a "buy" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, July 16th. Finally, Piper Sandler reaffirmed an "overweight" rating on shares of JPMorgan Chase & Co. in a report on Tuesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, JPMorgan Chase & Co. has an average rating of "Moderate Buy" and an average target price of $292.78.

JPMorgan Chase & Co. Price Performance

NYSE:JPM traded up $2.08 on Tuesday, hitting $314.52. The company had a trading volume of 1,728,079 shares, compared to its average volume of 9,621,125. The stock has a market capitalization of $864.85 billion, a price-to-earnings ratio of 16.16, a PEG ratio of 2.09 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 50 day moving average of $296.91 and a two-hundred day moving average of $269.93. JPMorgan Chase & Co. has a 52 week low of $202.16 and a 52 week high of $316.31.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued 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. The business had revenue of $44.91 billion during the quarter, compared to the consensus estimate of $43.76 billion. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The firm's revenue was down 10.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $6.12 EPS. On average, research analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, October 6th will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a 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%.

Insider Buying and Selling

In related news, Director Linda Bammann sold 9,500 shares of the stock in a transaction that occurred 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 $24,492,753.58. This represents a 10.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.47% of the stock is currently owned by 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.