Red Door Wealth Management LLC Purchases 1,685 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Red Door Wealth Management LLC boosted its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 3.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 47,183 shares of the financial services provider’s stock after acquiring an additional 1,685 shares during the period. JPMorgan Chase & Co. makes up approximately 2.0% of Red Door Wealth Management LLC’s holdings, making the stock its 13th largest holding. Red Door Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $5,313,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sandy Cove Advisors LLC grew its stake in shares of JPMorgan Chase & Co. by 8.5% in the 1st quarter. Sandy Cove Advisors LLC now owns 4,137 shares of the financial services provider’s stock valued at $564,000 after purchasing an additional 324 shares during the period. Clarity Wealth Advisors LLC grew its stake in shares of JPMorgan Chase & Co. by 10.2% in the 1st quarter. Clarity Wealth Advisors LLC now owns 20,997 shares of the financial services provider’s stock valued at $2,862,000 after purchasing an additional 1,944 shares during the period. Financial Strategies Group Inc. grew its stake in shares of JPMorgan Chase & Co. by 20.0% in the 1st quarter. Financial Strategies Group Inc. now owns 5,500 shares of the financial services provider’s stock valued at $750,000 after purchasing an additional 916 shares during the period. Alpha Omega Wealth Management LLC grew its stake in shares of JPMorgan Chase & Co. by 1.5% in the 1st quarter. Alpha Omega Wealth Management LLC now owns 37,664 shares of the financial services provider’s stock valued at $5,134,000 after purchasing an additional 557 shares during the period. Finally, Cordant Inc. bought a new stake in shares of JPMorgan Chase & Co. in the 1st quarter valued at approximately $47,000. 68.57% of the stock is currently owned by institutional investors.

JPMorgan Chase & Co. Stock Down 1.1 %

NYSE:JPM opened at $111.21 on Friday. The stock’s fifty day moving average price is $116.09 and its two-hundred day moving average price is $122.16. JPMorgan Chase & Co. has a 52-week low of $106.06 and a 52-week high of $172.96. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.83 and a current ratio of 0.83. The company has a market cap of $326.13 billion, a price-to-earnings ratio of 8.93, a P/E/G ratio of 2.04 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPMGet Rating) last posted its quarterly earnings results on Thursday, July 14th. The financial services provider reported $2.76 earnings per share for the quarter, missing analysts’ consensus estimates of $2.85 by ($0.09). The company had revenue of $30.72 billion during the quarter, compared to analyst estimates of $31.82 billion. JPMorgan Chase & Co. had a net margin of 30.41% and a return on equity of 15.29%. The business’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period last year, the company earned $3.78 EPS. On average, analysts anticipate that JPMorgan Chase & Co. will post 11.33 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Thursday, October 6th will be paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date of this dividend is Wednesday, October 5th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 32.10%.

Wall Street Analysts Forecast Growth

JPM has been the topic of several analyst reports. Piper Sandler lowered their price objective on 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. Wells Fargo & Company reduced their target price on JPMorgan Chase & Co. from $120.00 to $118.00 and set an “equal weight” rating on the stock in a report on Thursday, July 14th. Oppenheimer reduced their target price on JPMorgan Chase & Co. from $154.00 to $153.00 and set an “outperform” rating on the stock in a report on Friday, July 15th. Evercore ISI reduced their target price on JPMorgan Chase & Co. from $135.00 to $125.00 in a report on Friday, July 15th. Finally, Jefferies Financial Group set a $117.00 target price on JPMorgan Chase & Co. in a report on Monday, September 12th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $145.95.

JPMorgan Chase & Co. Profile

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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.

See Also

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Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

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