Luminvest Wealth Management LLC Takes $211,000 Position in JPMorgan Chase & Co. $JPM

Luminvest Wealth Management LLC acquired a new stake in JPMorgan Chase & Co. (NYSE:JPM) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 728 shares of the financial services provider’s stock, valued at approximately $211,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Brighton Jones LLC lifted its position in JPMorgan Chase & Co. by 11.0% during the fourth quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider’s stock worth $11,682,000 after buying an additional 4,841 shares during the period. Clare Market Investments LLC lifted its position in JPMorgan Chase & Co. by 55.2% during the first quarter. Clare Market Investments LLC now owns 11,193 shares of the financial services provider’s stock worth $2,746,000 after buying an additional 3,980 shares during the period. Warren Street Wealth Advisors LLC lifted its position in JPMorgan Chase & Co. by 2.2% during the first quarter. Warren Street Wealth Advisors LLC now owns 3,941 shares of the financial services provider’s stock worth $967,000 after buying an additional 84 shares during the period. McGrath & Associates Inc. lifted its position in JPMorgan Chase & Co. by 8.9% during the first quarter. McGrath & Associates Inc. now owns 996 shares of the financial services provider’s stock worth $244,000 after buying an additional 81 shares during the period. Finally, Channel Wealth LLC lifted its position in JPMorgan Chase & Co. by 4.8% during the first quarter. Channel Wealth LLC now owns 11,094 shares of the financial services provider’s stock worth $2,721,000 after buying an additional 507 shares during the period. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on JPM shares. Deutsche Bank Aktiengesellschaft increased their target price on JPMorgan Chase & Co. from $300.00 to $320.00 and gave the stock a “hold” rating in a research report on Tuesday. Citigroup increased their target price on JPMorgan Chase & Co. from $275.00 to $325.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 24th. Piper Sandler reiterated an “overweight” rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 15th. Royal Bank Of Canada reiterated a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Thursday, September 11th. Finally, Robert W. Baird lowered JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $235.00 price target for the company. in a research note on Friday, June 27th. Thirteen analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $303.45.

Insider Activity

In other news, Director Linda Bammann sold 9,500 shares of the stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $297.94, for a total value of $2,830,430.00. Following the completion of the sale, the director owned 82,207 shares in the company, valued at approximately $24,492,753.58. This trade represents a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.47% of the company’s stock.

JPMorgan Chase & Co. Price Performance

JPM stock opened at $307.65 on Friday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.88 and a current ratio of 0.88. JPMorgan Chase & Co. has a 1 year low of $202.16 and a 1 year high of $318.01. The firm has a market cap of $845.96 billion, a P/E ratio of 15.79, a price-to-earnings-growth ratio of 2.05 and a beta of 1.13. The stock has a 50-day simple moving average of $300.44 and a 200-day simple moving average of $273.96.

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

JPMorgan Chase & Co. Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, October 6th will be paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.0%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. The ex-dividend date is Monday, October 6th. JPMorgan Chase & Co.’s payout ratio is 28.73%.

JPMorgan Chase & Co. 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.