James J. Burns & Company LLC Takes $364,000 Position in JPMorgan Chase & Co. (NYSE:JPM)

James J. Burns & Company LLC purchased a new stake in JPMorgan Chase & Co. (NYSE:JPM) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,479 shares of the financial services provider’s stock, valued at approximately $364,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Homestead Advisers Corp increased its stake in shares of JPMorgan Chase & Co. by 1.0% in the second quarter. Homestead Advisers Corp now owns 1,165,236 shares of the financial services provider’s stock valued at $131,217,000 after buying an additional 11,000 shares during the period. Total Clarity Wealth Management Inc. grew its stake in JPMorgan Chase & Co. by 3.7% during the second quarter. Total Clarity Wealth Management Inc. now owns 11,430 shares of the financial services provider’s stock worth $1,287,000 after purchasing an additional 407 shares during the period. Handelsbanken Fonder AB grew its stake in JPMorgan Chase & Co. by 2.0% during the second quarter. Handelsbanken Fonder AB now owns 621,950 shares of the financial services provider’s stock worth $70,038,000 after purchasing an additional 12,411 shares during the period. Ballentine Partners LLC grew its stake in JPMorgan Chase & Co. by 12.4% during the third quarter. Ballentine Partners LLC now owns 51,929 shares of the financial services provider’s stock worth $5,427,000 after purchasing an additional 5,719 shares during the period. Finally, TruWealth Advisors LLC grew its stake in JPMorgan Chase & Co. by 8.5% during the second quarter. TruWealth Advisors LLC now owns 106,871 shares of the financial services provider’s stock worth $12,035,000 after purchasing an additional 8,332 shares during the period. Institutional investors and hedge funds own 67.89% of the company’s stock.

JPMorgan Chase & Co. Stock Up 0.2 %

JPM stock opened at $135.08 on Friday. JPMorgan Chase & Co. has a twelve month low of $101.28 and a twelve month high of $159.03. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.12. The stock’s 50 day moving average is $134.60 and its 200-day moving average is $122.72. The firm has a market capitalization of $396.22 billion, a PE ratio of 11.18, a P/E/G ratio of 2.23 and a beta of 1.13.

JPMorgan Chase & Co. (NYSE:JPMGet Rating) last posted its earnings results on Friday, January 13th. The financial services provider reported $3.57 earnings per share for the quarter, beating analysts’ consensus estimates of $3.11 by $0.46. JPMorgan Chase & Co. had a return on equity of 14.68% and a net margin of 24.34%. The company had revenue of $34.55 billion for the quarter, compared to analyst estimates of $34.23 billion. During the same quarter last year, the company earned $3.33 earnings per share. The company’s revenue for the quarter was up 18.1% on a year-over-year basis. Sell-side analysts expect that JPMorgan Chase & Co. will post 12.81 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 31st. Investors of record on Friday, January 6th will be given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date is Thursday, January 5th. JPMorgan Chase & Co.’s payout ratio is 33.11%.

Insider Activity at JPMorgan Chase & Co.

In related news, CEO Douglas B. Petno sold 5,139 shares of the stock in a transaction that occurred on Wednesday, October 26th. The stock was sold at an average price of $125.02, for a total transaction of $642,477.78. Following the completion of the sale, the chief executive officer now directly owns 248,011 shares of the company’s stock, valued at $31,006,335.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other JPMorgan Chase & Co. news, CEO Douglas B. Petno sold 5,139 shares of the firm’s stock in a transaction on Wednesday, October 26th. The stock was sold at an average price of $125.02, for a total value of $642,477.78. Following the completion of the sale, the chief executive officer now directly owns 248,011 shares of the company’s stock, valued at $31,006,335.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mellody L. Hobson bought 375 shares of the firm’s stock in a transaction on Thursday, January 19th. The stock was purchased at an average cost of $134.53 per share, with a total value of $50,448.75. Following the completion of the transaction, the director now directly owns 22,040 shares of the company’s stock, valued at $2,965,041.20. The disclosure for this purchase can be found here. Over the last three months, insiders sold 46,336 shares of company stock valued at $6,372,156. 0.79% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

JPM has been the subject of several recent analyst reports. Morgan Stanley raised their target price on JPMorgan Chase & Co. from $153.00 to $167.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 17th. Credit Suisse Group set a $155.00 target price on JPMorgan Chase & Co. in a research note on Tuesday, January 17th. Piper Sandler raised their target price on JPMorgan Chase & Co. from $150.00 to $157.00 in a research note on Tuesday, January 17th. BMO Capital Markets increased their price target on JPMorgan Chase & Co. from $149.00 to $158.00 and gave the stock a “market perform” rating in a report on Monday, October 17th. Finally, Citigroup increased their price target on JPMorgan Chase & Co. from $150.00 to $165.00 in a report on Tuesday, January 17th. Seven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $147.89.

About JPMorgan Chase & Co.

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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.

Further Reading

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

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