JPMorgan Chase & Co. $JPM Stake Boosted by Plancorp LLC

Plancorp LLC grew its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 15.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,592 shares of the financial services provider’s stock after purchasing an additional 1,594 shares during the period. Plancorp LLC’s holdings in JPMorgan Chase & Co. were worth $3,907,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of JPM. Horizons Wealth Management acquired a new position in JPMorgan Chase & Co. during the third quarter worth $31,000. Aventus Investment Advisors Inc. purchased a new position in JPMorgan Chase & Co. in the second quarter worth $33,000. Timbuktu Capital Management LLC acquired a new stake in JPMorgan Chase & Co. in the second quarter valued at $50,000. Team Financial Group LLC acquired a new stake in JPMorgan Chase & Co. in the third quarter valued at $50,000. Finally, NI Acquisitions Company LLC acquired a new stake in JPMorgan Chase & Co. in the second quarter valued at $51,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Trading Up 0.4%

Shares of JPM stock opened at $343.35 on Thursday. JPMorgan Chase & Co. has a fifty-two week low of $279.10 and a fifty-two week high of $366.50. The stock has a market cap of $911.80 billion, a P/E ratio of 14.40, a P/E/G ratio of 1.35 and a beta of 1.03. The business has a fifty day simple moving average of $341.06 and a 200-day simple moving average of $324.40. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.31.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Tuesday, October 13th. The financial services provider reported $5.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.94 by ($0.19). JPMorgan Chase & Co. had a return on equity of 18.48% and a net margin of 21.85%. The firm had revenue of $50.17 billion for the quarter, compared to analyst estimates of $51.23 billion. During the same period last year, the firm earned $5.07 EPS. The company’s quarterly revenue was up 8.1% compared to the same quarter last year. On average, analysts forecast that JPMorgan Chase & Co. will post 23.95 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, October 31st. Shareholders of record on Tuesday, October 6th were issued a dividend of $1.65 per share. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.50. The ex-dividend date was Tuesday, October 6th. This represents a $6.60 annualized dividend and a yield of 1.9%. JPMorgan Chase & Co.’s payout ratio is 27.68%.

Latest JPMorgan Chase & Co. News

Here’s some of the latest news about JPM:

• Positive Sentiment: JPMorgan is taking a lead role in Anthropic’s planned IPO, including domestic retail marketing and share allocations. The offering could be a major transaction, giving JPMorgan a chance to earn fees and showcase its investment-banking franchise; CEO Jamie Dimon’s participation also raises the bank’s profile. JPMorgan takes lead role in Anthropic IPO
• Neutral Sentiment: JPMorgan is lead arranger for a $2.85 billion financing package supporting CCC Intelligent Solutions’ buyout. The deal indicates continued lending activity, but the article provides no estimate of fees or likely effect on earnings. CCC Intelligent Solutions financing
• Negative Sentiment: A report says JPMorgan may sell about $2 billion of Qualtrics-related debt at roughly 85 cents on the dollar. If the bank holds the debt and sells at that discount, it could crystallize a loss; the article does not clarify the potential impact on JPMorgan’s results. JPMorgan may sell Qualtrics debt at a discount

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, insider Robin Leopold sold 2,500 shares of JPMorgan Chase & Co. stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $352.81, for a total transaction of $882,025.00. Following the completion of the transaction, the insider owned 71,047 shares in the company, valued at approximately $25,066,092.07. The trade was a 3.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.41% of the company’s stock.

Analyst Ratings Changes

JPM has been the topic of several research analyst reports. HSBC boosted their target price on shares of JPMorgan Chase & Co. from $369.00 to $377.00 and gave the stock a “hold” rating in a research report on Monday, September 28th. Wells Fargo & Company increased their price target on shares of JPMorgan Chase & Co. from $375.00 to $390.00 and gave the company an “overweight” rating in a report on Friday, August 14th. Deutsche Bank upgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and set a $375.00 price objective for the company in a research note on Wednesday, July 22nd. Citigroup decreased their price objective on shares of JPMorgan Chase & Co. from $360.00 to $350.00 and set a “neutral” rating on the stock in a report on Thursday, October 15th. Finally, Robert W. Baird upped their target price on shares of JPMorgan Chase & Co. from $305.00 to $312.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 14th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and thirteen have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $368.33.

About JPMorgan Chase & Co.

JPMorgan Chase & Co. is a global financial services company serving consumers, businesses, institutional clients and governments. Its operations include consumer and community banking, corporate and investment banking, commercial banking, and asset and wealth management. The company offers services such as deposit accounts, credit cards, mortgages, auto financing, lending, payment processing and investment advice. It also provides institutional clients with investment banking, markets, treasury and securities services, and commercial lending.