Balentine LLC Has $754,000 Stock Position in JPMorgan Chase & Co. $JPM

Balentine LLC boosted its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 8.1% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 2,601 shares of the financial services provider’s stock after purchasing an additional 196 shares during the period. Balentine LLC’s holdings in JPMorgan Chase & Co. were worth $754,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Florida Financial Advisors LLC grew its position in JPMorgan Chase & Co. by 62.5% during the first quarter. Florida Financial Advisors LLC now owns 9,863 shares of the financial services provider’s stock worth $2,416,000 after buying an additional 3,792 shares in the last quarter. Mosaic Financial Group LLC raised its holdings in JPMorgan Chase & Co. by 0.8% in the 1st quarter. Mosaic Financial Group LLC now owns 9,296 shares of the financial services provider’s stock valued at $2,280,000 after acquiring an additional 78 shares in the last quarter. Morse Asset Management Inc lifted its position in shares of JPMorgan Chase & Co. by 19.5% in the 1st quarter. Morse Asset Management Inc now owns 2,569 shares of the financial services provider’s stock worth $630,000 after acquiring an additional 420 shares during the period. China Universal Asset Management Co. Ltd. lifted its position in shares of JPMorgan Chase & Co. by 11.1% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 15,648 shares of the financial services provider’s stock worth $3,838,000 after acquiring an additional 1,561 shares during the period. Finally, Woodward Diversified Capital LLC grew its holdings in shares of JPMorgan Chase & Co. by 3.4% during the 1st quarter. Woodward Diversified Capital LLC now owns 8,032 shares of the financial services provider’s stock worth $1,970,000 after purchasing an additional 263 shares in the last quarter. 71.55% of the stock is owned by institutional investors.

JPMorgan Chase & Co. Trading Up 0.8%

Shares of JPM stock opened at $316.69 on Tuesday. The company has a market capitalization of $862.11 billion, a P/E ratio of 15.69, a P/E/G ratio of 1.84 and a beta of 1.14. JPMorgan Chase & Co. has a 12-month low of $202.16 and a 12-month high of $319.56. 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 firm has a 50-day moving average price of $306.48 and a 200 day moving average price of $288.11.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share for the quarter, topping the consensus estimate of $4.83 by $0.24. The firm had revenue of $46.43 billion for the quarter, compared to analysts’ expectations of $44.42 billion. JPMorgan Chase & Co. had a net margin of 20.90% and a return on equity of 17.18%. The company’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.37 earnings per share. Research analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Monday, October 6th were given a dividend of $1.50 per share. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. The ex-dividend date was Monday, October 6th. This represents a $6.00 dividend on an annualized basis and a yield of 1.9%. JPMorgan Chase & Co.’s dividend payout ratio is currently 29.72%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on JPM. Zacks Research upgraded JPMorgan Chase & Co. from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 20th. Phillip Securities lowered shares of JPMorgan Chase & Co. from a “moderate buy” rating to a “hold” rating in a report on Wednesday, July 16th. Truist Financial increased their price objective on shares of JPMorgan Chase & Co. from $290.00 to $319.00 and gave the company a “hold” rating in a research note on Tuesday, September 23rd. Barclays raised their price objective on shares of JPMorgan Chase & Co. from $330.00 to $342.00 and gave the stock an “overweight” rating in a report on Wednesday, October 15th. Finally, Citigroup lifted their target price on shares of JPMorgan Chase & Co. from $275.00 to $325.00 and gave the company a “neutral” rating in a research report on Wednesday, September 24th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, JPMorgan Chase & Co. has a consensus rating of “Moderate Buy” and a consensus price target of $326.38.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, insider Robin Leopold sold 966 shares of JPMorgan Chase & Co. stock in a transaction on Friday, November 7th. The stock was sold at an average price of $311.92, for a total value of $301,314.72. Following the completion of the transaction, the insider owned 58,479 shares in the company, valued at approximately $18,240,769.68. The trade was a 1.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Linda Bammann sold 9,500 shares of the business’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 transaction, the director directly owned 82,207 shares in the company, valued at approximately $24,492,753.58. This represents a 10.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.47% of the company’s stock.

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.