JPMorgan Chase & Co. $JPM is Meyer Handelman Co.’s 7th Largest Position

Meyer Handelman Co. increased its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.5% during the 2nd quarter, HoldingsChannel reports. The fund owned 301,059 shares of the financial services provider’s stock after buying an additional 1,515 shares during the period. JPMorgan Chase & Co. accounts for approximately 2.9% of Meyer Handelman Co.’s portfolio, making the stock its 7th biggest holding. Meyer Handelman Co.’s holdings in JPMorgan Chase & Co. were worth $87,280,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. MJT & Associates Financial Advisory Group Inc. bought a new position in JPMorgan Chase & Co. during the 1st quarter valued at approximately $28,000. University of Illinois Foundation purchased a new stake in shares of JPMorgan Chase & Co. in the first quarter worth $30,000. Ryan Investment Management Inc. bought a new position in shares of JPMorgan Chase & Co. during the second quarter valued at $37,000. Curat Global LLC purchased a new position in shares of JPMorgan Chase & Co. in the 1st quarter worth about $33,000. Finally, Christopher J. Hasenberg Inc raised its position in shares of JPMorgan Chase & Co. by 212.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 106 shares during the last quarter. Institutional investors own 71.55% of the company’s stock.

Analysts Set New Price Targets

JPM has been the subject of a number of analyst reports. Wells Fargo & Company raised their price objective on shares of JPMorgan Chase & Co. from $325.00 to $345.00 and gave the company an “overweight” rating in a research note on Tuesday, September 16th. Zacks Research cut shares of JPMorgan Chase & Co. from a “strong-buy” rating to a “hold” rating in a report on Monday, September 8th. Truist Financial boosted their price objective 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. Phillip Securities cut JPMorgan Chase & Co. from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, July 16th. Finally, Cowen reiterated a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, July 16th. Thirteen research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $299.28.

JPMorgan Chase & Co. Price Performance

Shares of NYSE:JPM opened at $315.56 on Tuesday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.25. The stock has a market capitalization of $867.71 billion, a PE ratio of 16.19, a price-to-earnings-growth ratio of 2.08 and a beta of 1.13. The firm’s 50 day moving average price is $299.46 and its 200-day moving average price is $272.90. JPMorgan Chase & Co. has a twelve month low of $202.16 and a twelve month high of $318.01.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $44.91 billion during the quarter, compared to analyst estimates of $43.76 billion. During the same period in the previous year, the business posted $6.12 earnings per share. The firm’s quarterly revenue was down 10.5% compared to the same quarter last year. Equities research analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, October 6th will be issued a $1.50 dividend. The ex-dividend date of this dividend is Monday, October 6th. This represents a $6.00 dividend on an annualized basis and a yield of 1.9%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. JPMorgan Chase & Co.’s payout ratio is 28.73%.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the completion of the sale, the director owned 82,207 shares of the company’s stock, valued at approximately $24,492,753.58. The trade was a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.47% of the company’s stock.

JPMorgan Chase & Co. Company 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.