Rice Partnership LLC Purchases 8,827 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Rice Partnership LLC lifted its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 11.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 87,184 shares of the financial services provider’s stock after purchasing an additional 8,827 shares during the period. JPMorgan Chase & Co. comprises 2.9% of Rice Partnership LLC’s portfolio, making the stock its 8th largest position. Rice Partnership LLC’s holdings in JPMorgan Chase & Co. were worth $9,111,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in JPM. HBC Financial Services PLLC lifted its position in shares of JPMorgan Chase & Co. by 61.2% during the second quarter. HBC Financial Services PLLC now owns 237 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 90 shares in the last quarter. Grayhawk Investment Strategies Inc. acquired a new stake in JPMorgan Chase & Co. in the second quarter valued at $32,000. Financial Connections Group Inc. raised its holdings in JPMorgan Chase & Co. by 48.5% in the second quarter. Financial Connections Group Inc. now owns 306 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 100 shares in the last quarter. Horizons Wealth Management acquired a new stake in JPMorgan Chase & Co. in the second quarter valued at $39,000. Finally, New Millennium Group LLC acquired a new stake in JPMorgan Chase & Co. in the second quarter valued at $39,000. 67.89% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on JPM. Deutsche Bank Aktiengesellschaft cut shares of JPMorgan Chase & Co. from a “buy” rating to a “hold” rating and cut their price target for the company from $155.00 to $145.00 in a report on Friday, January 6th. Piper Sandler upped their price target on shares of JPMorgan Chase & Co. from $150.00 to $157.00 in a report on Tuesday, January 17th. StockNews.com started coverage on shares of JPMorgan Chase & Co. in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Royal Bank of Canada set a $130.00 target price on shares of JPMorgan Chase & Co. in a report on Friday, January 13th. Finally, Oppenheimer increased their target price on shares of JPMorgan Chase & Co. from $169.00 to $177.00 and gave the stock an “outperform” rating in a report on Tuesday, January 17th. Seven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $147.89.

JPMorgan Chase & Co. Stock Up 0.2 %

JPMorgan Chase & Co. stock opened at $135.08 on Monday. The company has a 50-day simple moving average of $134.60 and a 200-day simple moving average of $122.80. The firm has a market capitalization of $396.22 billion, a P/E ratio of 11.18, a P/E/G ratio of 2.10 and a beta of 1.13. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.84 and a current ratio of 0.84. JPMorgan Chase & Co. has a one year low of $101.28 and a one year high of $159.03.

JPMorgan Chase & Co. (NYSE:JPMGet Rating) last released its quarterly earnings results on Friday, January 13th. The financial services provider reported $3.57 EPS for the quarter, topping the consensus estimate of $3.11 by $0.46. The business had revenue of $34.55 billion during the quarter, compared to analyst estimates of $34.23 billion. JPMorgan Chase & Co. had a net margin of 24.34% and a return on equity of 14.68%. The company’s quarterly revenue was up 18.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.33 earnings per share. As a group, equities analysts expect that JPMorgan Chase & Co. will post 12.88 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 31st. Investors of record on Friday, January 6th will be given a $1.00 dividend. The ex-dividend date of this dividend is Thursday, January 5th. This represents a $4.00 dividend on an annualized basis and a yield of 2.96%. JPMorgan Chase & Co.’s dividend payout ratio is presently 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 dated Wednesday, October 26th. The shares were sold at an average price of $125.02, for a total value of $642,477.78. Following the completion of the transaction, the chief executive officer now owns 248,011 shares in the company, valued at approximately $31,006,335.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Mellody L. Hobson bought 375 shares of the firm’s stock in a transaction that occurred on Thursday, January 19th. The stock was purchased at an average price of $134.53 per share, for a total transaction of $50,448.75. Following the transaction, the director now directly owns 22,040 shares of the company’s stock, valued at approximately $2,965,041.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Douglas B. Petno sold 5,139 shares of the stock in a transaction dated Wednesday, October 26th. The shares were sold at an average price of $125.02, for a total transaction of $642,477.78. Following the completion of the transaction, the chief executive officer now owns 248,011 shares of the company’s stock, valued at approximately $31,006,335.22. The disclosure for this sale can be found here. Insiders sold 46,336 shares of company stock worth $6,372,156 in the last 90 days. Corporate insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Profile

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JPMorgan Chase & Co is a financial holding company. It provides financial and investment banking services. The firm offers a range of investment banking products and services in all capital markets, including advising on corporate strategy and structure, capital raising in equity and debt markets, risk management, market making in cash securities and derivative instruments, and brokerage and research.

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

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