TOWER TRUST & INVESTMENT Co Boosts Stake in JPMorgan Chase & Co. $JPM

TOWER TRUST & INVESTMENT Co lifted its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 15,870 shares of the financial services provider’s stock after purchasing an additional 301 shares during the period. JPMorgan Chase & Co. accounts for 3.3% of TOWER TRUST & INVESTMENT Co’s holdings, making the stock its 7th biggest holding. TOWER TRUST & INVESTMENT Co’s holdings in JPMorgan Chase & Co. were worth $4,601,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of JPM. Florida Financial Advisors LLC lifted its holdings in JPMorgan Chase & Co. by 62.5% in the first quarter. Florida Financial Advisors LLC now owns 9,863 shares of the financial services provider’s stock valued at $2,416,000 after buying an additional 3,792 shares during the period. Crown Wealth Group LLC lifted its holdings in JPMorgan Chase & Co. by 5.4% in the first quarter. Crown Wealth Group LLC now owns 4,320 shares of the financial services provider’s stock valued at $1,060,000 after buying an additional 222 shares during the period. Mosaic Financial Group LLC lifted its holdings in JPMorgan Chase & Co. by 0.8% in the first quarter. Mosaic Financial Group LLC now owns 9,296 shares of the financial services provider’s stock valued at $2,280,000 after buying an additional 78 shares during the period. Morse Asset Management Inc raised its holdings in shares of JPMorgan Chase & Co. by 19.5% during the first quarter. Morse Asset Management Inc now owns 2,569 shares of the financial services provider’s stock valued at $630,000 after purchasing an additional 420 shares during the period. Finally, Hidden Cove Wealth Management LLC boosted its position in shares of JPMorgan Chase & Co. by 4.2% during the 1st quarter. Hidden Cove Wealth Management LLC now owns 2,758 shares of the financial services provider’s stock worth $677,000 after purchasing an additional 112 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

Insider Transactions at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were 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. This represents a 10.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.47% of the stock is owned by corporate insiders.

JPMorgan Chase & Co. Trading Down 1.5%

Shares of JPM stock opened at $310.82 on Thursday. JPMorgan Chase & Co. has a 52-week low of $202.16 and a 52-week high of $318.01. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.88 and a current ratio of 0.88. The company has a 50-day simple moving average of $300.22 and a two-hundred day simple moving average of $273.45. The company has a market capitalization of $854.68 billion, a price-to-earnings ratio of 15.95, a PEG ratio of 2.08 and a beta of 1.13.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share for the quarter, beating analysts’ consensus estimates of $4.48 by $0.48. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The firm had revenue of $44.91 billion during the quarter, compared to the consensus estimate of $43.76 billion. During the same period in the prior year, the firm earned $6.12 EPS. The company’s revenue was down 10.5% compared to the same quarter last year. Research analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, October 6th will be paid a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is 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 currently 28.73%.

Analyst Upgrades and Downgrades

JPM has been the topic of a number of research analyst reports. Zacks Research cut shares of JPMorgan Chase & Co. from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 8th. Hsbc Global Res lowered shares of JPMorgan Chase & Co. from a “hold” rating to a “moderate sell” rating in a report on Tuesday, July 8th. Truist Financial upped their target price on shares of JPMorgan Chase & Co. from $290.00 to $319.00 and gave the stock a “hold” rating in a report on Tuesday, September 23rd. Evercore ISI upped their target price on shares of JPMorgan Chase & Co. from $309.00 to $330.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, Piper Sandler restated an “overweight” rating on shares of JPMorgan Chase & Co. in a report on Tuesday, July 15th. Thirteen equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $303.45.

About JPMorgan Chase & Co.

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.