JPMorgan Chase & Co. $JPM Stock: Plancorp LLC Raises Position

Plancorp LLC lifted its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 15.9% during the third quarter, Holdings Channel reports. The fund owned 11,592 shares of the financial services provider’s stock after purchasing an additional 1,594 shares during the quarter. Plancorp LLC’s holdings in JPMorgan Chase & Co. were worth $3,907,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. May Hill Capital LLC raised its stake in JPMorgan Chase & Co. by 6.7% in the 3rd quarter. May Hill Capital LLC now owns 7,999 shares of the financial services provider’s stock valued at $2,646,000 after purchasing an additional 503 shares during the last quarter. Cannon Capital Management Inc. lifted its holdings in JPMorgan Chase & Co. by 1.5% in the 3rd quarter. Cannon Capital Management Inc. now owns 9,114 shares of the financial services provider’s stock valued at $3,015,000 after purchasing an additional 134 shares in the last quarter. Ashton Thomas Private Wealth LLC boosted its stake in shares of JPMorgan Chase & Co. by 2.9% during the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 108,004 shares of the financial services provider’s stock worth $35,731,000 after purchasing an additional 3,015 shares during the last quarter. Asset One Wealth Management LLC boosted its stake in shares of JPMorgan Chase & Co. by 17.8% during the 3rd quarter. Asset One Wealth Management LLC now owns 22,817 shares of the financial services provider’s stock worth $7,548,000 after purchasing an additional 3,446 shares during the last quarter. Finally, Heritage Family Offices LLP boosted its stake in shares of JPMorgan Chase & Co. by 12.8% during the 3rd quarter. Heritage Family Offices LLP now owns 3,862 shares of the financial services provider’s stock worth $1,278,000 after purchasing an additional 437 shares during the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Trading Up 0.4%

Shares of JPM opened at $343.35 on Thursday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.31. The firm has a market capitalization of $911.80 billion, a P/E ratio of 14.40, a price-to-earnings-growth ratio of 1.35 and a beta of 1.03. The stock’s fifty day simple moving average is $341.06 and its 200 day simple moving average is $324.40. JPMorgan Chase & Co. has a twelve month low of $279.10 and a twelve month high of $366.50.

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

JPMorgan Chase & Co. Increases Dividend

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

Insider Activity

In related news, insider Robin Leopold sold 2,500 shares of the stock in a transaction that occurred on 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 sale, the insider owned 71,047 shares of the company’s stock, valued at approximately $25,066,092.07. This represents a 3.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.41% of the company’s stock.

JPMorgan Chase & Co. News Summary

Investors following JPM have been watching these news items:

• 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

Analyst Upgrades and Downgrades

JPM has been the subject of a number of recent research reports. Freedom Broker upgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 15th. Deutsche Bank raised shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and set a $375.00 price objective on the stock in a research note on Wednesday, July 22nd. HSBC raised 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. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, October 14th. Finally, The Goldman Sachs Group reiterated an “outperform” rating and issued a $392.00 price target on shares of JPMorgan Chase & Co. in a report on Tuesday, October 13th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and thirteen have given a Hold rating to the stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. currently has an average rating of “Moderate Buy” and a consensus price target of $368.33.

JPMorgan Chase & Co. Company Profile

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.