Total Clarity Wealth Management Inc. lifted its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 3.7% in the 2nd quarter, HoldingsChannel reports. The fund owned 11,430 shares of the financial services provider’s stock after purchasing an additional 407 shares during the period. Total Clarity Wealth Management Inc.’s holdings in JPMorgan Chase & Co. were worth $1,287,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in JPM. Ipswich Investment Management Co. Inc. boosted its holdings in JPMorgan Chase & Co. by 1.4% during the first quarter. Ipswich Investment Management Co. Inc. now owns 52,437 shares of the financial services provider’s stock worth $7,148,000 after purchasing an additional 722 shares during the last quarter. Kiley Juergens Wealth Management LLC boosted its stake in JPMorgan Chase & Co. by 10.6% in the first quarter. Kiley Juergens Wealth Management LLC now owns 11,480 shares of the financial services provider’s stock valued at $1,565,000 after acquiring an additional 1,097 shares during the last quarter. First American Trust FSB boosted its stake in JPMorgan Chase & Co. by 3.8% in the first quarter. First American Trust FSB now owns 97,799 shares of the financial services provider’s stock valued at $13,332,000 after acquiring an additional 3,605 shares during the last quarter. CAPROCK Group Inc. boosted its stake in JPMorgan Chase & Co. by 5.5% in the first quarter. CAPROCK Group Inc. now owns 29,968 shares of the financial services provider’s stock valued at $4,086,000 after acquiring an additional 1,563 shares during the last quarter. Finally, Sara Bay Financial boosted its stake in JPMorgan Chase & Co. by 0.7% in the first quarter. Sara Bay Financial now owns 65,142 shares of the financial services provider’s stock valued at $8,880,000 after acquiring an additional 458 shares during the last quarter. 68.57% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of research analysts have weighed in on JPM shares. Piper Sandler dropped their target price on shares of JPMorgan Chase & Co. from $170.00 to $158.00 and set an “overweight” rating on the stock in a research note on Friday, July 1st. UBS Group set a $124.00 target price on shares of JPMorgan Chase & Co. in a research note on Tuesday, October 18th. BMO Capital Markets boosted their price target on shares of JPMorgan Chase & Co. from $149.00 to $158.00 and gave the company a “market perform” rating in a research report on Monday, October 17th. Jefferies Financial Group set a $117.00 price target on shares of JPMorgan Chase & Co. in a research report on Monday, September 12th. Finally, Wells Fargo & Company lowered their price target on shares of JPMorgan Chase & Co. from $120.00 to $118.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 14th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $144.90.
JPMorgan Chase & Co. Trading Up 5.3 %
Shares of JPMorgan Chase & Co. stock opened at $122.23 on Friday. JPMorgan Chase & Co. has a 1 year low of $101.28 and a 1 year high of $172.96. The firm has a market cap of $358.45 billion, a PE ratio of 10.32, a PEG ratio of 2.02 and a beta of 1.09. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.84 and a quick ratio of 0.83. The company has a 50 day simple moving average of $113.88 and a two-hundred day simple moving average of $118.08.
JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last announced its earnings results on Friday, October 14th. The financial services provider reported $3.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.95 by $0.17. JPMorgan Chase & Co. had a net margin of 26.85% and a return on equity of 14.52%. The business had revenue of $32.72 billion during the quarter, compared to analyst estimates of $31.88 billion. During the same period in the previous year, the business posted $3.74 earnings per share. JPMorgan Chase & Co.’s revenue for the quarter was up 10.4% on a year-over-year basis. Analysts expect that JPMorgan Chase & Co. will post 11.61 earnings per share for the current fiscal year.
JPMorgan Chase & Co. Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Thursday, October 6th will be given a dividend of $1.00 per share. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $4.00 annualized dividend and a yield of 3.27%. JPMorgan Chase & Co.’s payout ratio is presently 33.78%.
Insider Buying and Selling at JPMorgan Chase & Co.
In other news, CEO Mary E. Erdoes sold 33,515 shares of the business’s stock in a transaction that occurred on Monday, October 17th. The shares were sold at an average price of $115.77, for a total value of $3,880,031.55. Following the completion of the sale, the chief executive officer now directly owns 533,795 shares in the company, valued at approximately $61,797,447.15. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.79% of the stock is currently owned by company insiders.
About JPMorgan Chase & Co.
JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers s deposit, investment and lending products, payments, and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit card, auto loan, and leasing services.
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