Charles Schwab Trust Co Boosts Position in JPMorgan Chase & Co. $JPM

Charles Schwab Trust Co boosted its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 2.0% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 27,191 shares of the financial services provider’s stock after acquiring an additional 524 shares during the quarter. Charles Schwab Trust Co’s holdings in JPMorgan Chase & Co. were worth $7,883,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. MJT & Associates Financial Advisory Group Inc. purchased a new stake in JPMorgan Chase & Co. in the first quarter worth about $28,000. University of Illinois Foundation purchased a new stake in JPMorgan Chase & Co. in the first quarter worth about $30,000. Curat Global LLC purchased a new stake in JPMorgan Chase & Co. in the first quarter worth about $33,000. Ryan Investment Management Inc. purchased a new stake in JPMorgan Chase & Co. in the second quarter worth about $37,000. Finally, Christopher J. Hasenberg Inc increased its position in JPMorgan Chase & Co. by 212.0% in the second quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider’s stock worth $45,000 after buying an additional 106 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Insider Buying and Selling

In related news, Director Linda Bammann sold 9,500 shares of the stock in a transaction that occurred on 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 transaction, the director directly owned 82,207 shares of the company’s stock, valued at approximately $24,492,753.58. This represents a 10.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.47% of the company’s stock.

Analysts Set New Price Targets

JPM has been the subject of a number of analyst reports. Keefe, Bruyette & Woods upped their price target on JPMorgan Chase & Co. from $327.00 to $330.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 16th. Robert W. Baird cut JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $235.00 price target for the company. in a research report on Friday, June 27th. Bank of America upped their price target on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the stock a “buy” rating in a research report on Wednesday, July 16th. Deutsche Bank Aktiengesellschaft upped their price target on JPMorgan Chase & Co. from $300.00 to $320.00 and gave the stock a “hold” rating in a research report on Tuesday. Finally, Truist Financial upped their price target on JPMorgan Chase & Co. from $290.00 to $319.00 and gave the stock a “hold” rating in a research report on Tuesday, September 23rd. Thirteen research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $303.45.

JPMorgan Chase & Co. Price Performance

Shares of JPMorgan Chase & Co. stock opened at $307.65 on Friday. The stock has a 50 day moving average of $300.44 and a 200 day moving average of $273.96. JPMorgan Chase & Co. has a 12 month low of $202.16 and a 12 month high of $318.01. The firm has a market cap of $845.96 billion, a PE ratio of 15.79, a PEG ratio of 2.05 and a beta of 1.13. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.25.

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

JPMorgan Chase & Co. Increases Dividend

The company 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. The ex-dividend date of this dividend is Monday, October 6th. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. This represents a $6.00 dividend on an annualized basis and a yield of 2.0%. JPMorgan Chase & Co.’s dividend payout ratio is currently 28.73%.

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.