Bowen Hanes & Co. Inc. Increases Stake in JPMorgan Chase & Co. $JPM

Bowen Hanes & Co. Inc. grew its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 1.6% during the 2nd quarter, Holdings Channel reports. The fund owned 281,884 shares of the financial services provider’s stock after buying an additional 4,450 shares during the period. JPMorgan Chase & Co. comprises 2.1% of Bowen Hanes & Co. Inc.’s portfolio, making the stock its 14th biggest holding. Bowen Hanes & Co. Inc.’s holdings in JPMorgan Chase & Co. were worth $81,721,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Brighton Jones LLC raised its stake in JPMorgan Chase & Co. by 11.0% during the 4th quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider’s stock worth $11,682,000 after acquiring an additional 4,841 shares during the period. Acorns Advisers LLC increased its stake in shares of JPMorgan Chase & Co. by 6.9% in the first quarter. Acorns Advisers LLC now owns 1,547 shares of the financial services provider’s stock worth $379,000 after purchasing an additional 100 shares in the last quarter. HB Wealth Management LLC raised its position in shares of JPMorgan Chase & Co. by 28.0% during the 1st quarter. HB Wealth Management LLC now owns 219,144 shares of the financial services provider’s stock valued at $53,756,000 after purchasing an additional 47,905 shares during the period. TD Asset Management Inc raised its position in shares of JPMorgan Chase & Co. by 2.2% during the 1st quarter. TD Asset Management Inc now owns 5,068,154 shares of the financial services provider’s stock valued at $1,243,218,000 after purchasing an additional 108,675 shares during the period. Finally, Brown Wealth Management LLC lifted its stake in shares of JPMorgan Chase & Co. by 2.4% during the 1st quarter. Brown Wealth Management LLC now owns 2,360 shares of the financial services provider’s stock valued at $579,000 after buying an additional 55 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. The Goldman Sachs Group reiterated a “buy” rating and issued a $366.00 price target on shares of JPMorgan Chase & Co. in a research note on Tuesday, October 14th. Zacks Research cut JPMorgan Chase & Co. from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 18th. Truist Financial lifted their target price on JPMorgan Chase & Co. from $290.00 to $319.00 and gave the company a “hold” rating in a research note on Tuesday, September 23rd. Daiwa Capital Markets upped their price target on JPMorgan Chase & Co. from $330.00 to $332.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 8th. Finally, TD Cowen increased their price objective on shares of JPMorgan Chase & Co. from $350.00 to $370.00 and gave the company a “buy” rating in a report on Friday, October 3rd. Fifteen analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $326.38.

JPMorgan Chase & Co. Stock Performance

NYSE JPM opened at $313.26 on Friday. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.86 and a quick ratio of 0.88. JPMorgan Chase & Co. has a 1-year low of $202.16 and a 1-year high of $322.25. The business has a 50 day simple moving average of $306.89 and a two-hundred day simple moving average of $293.25. The stock has a market capitalization of $852.78 billion, a PE ratio of 15.52, a P/E/G ratio of 1.84 and a beta of 1.14.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Tuesday, October 14th. The financial services provider reported $5.07 EPS for the quarter, beating analysts’ consensus estimates of $4.83 by $0.24. JPMorgan Chase & Co. had a return on equity of 17.18% and a net margin of 20.90%.The firm had revenue of $47.12 billion during the quarter, compared to the consensus estimate of $44.42 billion. During the same period in the prior year, the company earned $4.37 EPS. The company’s quarterly revenue was up 8.8% compared to the same quarter last year. On average, research analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

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

Insiders Place Their Bets

In related news, insider Robin Leopold sold 966 shares of JPMorgan Chase & Co. stock in a transaction dated 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. This trade represents a 1.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Linda Bammann sold 9,500 shares of the business’s stock in a transaction that occurred 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 sale, the director directly owned 82,207 shares in the company, valued at $24,492,753.58. The trade was a 10.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.47% of the company’s stock.

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.