JPMorgan Chase & Co. (NYSE:JPM) Shares Purchased by Capital Wealth Planning LLC

Capital Wealth Planning LLC increased its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 26.7% in the 2nd quarter, Holdings Channel.com reports. The firm owned 2,458,125 shares of the financial services provider’s stock after purchasing an additional 518,100 shares during the period. JPMorgan Chase & Co. makes up 5.2% of Capital Wealth Planning LLC’s portfolio, making the stock its 5th largest holding. Capital Wealth Planning LLC’s holdings in JPMorgan Chase & Co. were worth $497,180,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of JPM. Retirement Group LLC lifted its holdings in JPMorgan Chase & Co. by 227.1% in the first quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 109 shares during the period. Richardson Capital Management LLC acquired a new stake in JPMorgan Chase & Co. in the first quarter valued at $34,000. Anfield Capital Management LLC acquired a new stake in JPMorgan Chase & Co. in the second quarter valued at $34,000. Davidson Capital Management Inc. acquired a new stake in JPMorgan Chase & Co. in the first quarter valued at $37,000. Finally, Kathleen S. Wright Associates Inc. acquired a new stake in JPMorgan Chase & Co. in the first quarter valued at $40,000. 71.55% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on JPM shares. Barclays raised their target price on JPMorgan Chase & Co. from $212.00 to $217.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Piper Sandler lifted their price target on JPMorgan Chase & Co. from $220.00 to $230.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. Keefe, Bruyette & Woods lifted their price target on JPMorgan Chase & Co. from $209.00 to $211.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 9th. Morgan Stanley cut their price target on JPMorgan Chase & Co. from $226.00 to $220.00 and set an “overweight” rating for the company in a research note on Thursday, September 12th. Finally, Citigroup lifted their price target on JPMorgan Chase & Co. from $205.00 to $215.00 and gave the stock a “neutral” rating in a research note on Monday, July 15th. Eight analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $211.06.

JPMorgan Chase & Co. Stock Up 0.2 %

JPM opened at $210.98 on Friday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.91 and a quick ratio of 0.91. The stock has a market capitalization of $605.86 billion, a price-to-earnings ratio of 11.77, a price-to-earnings-growth ratio of 2.33 and a beta of 1.12. The business has a 50-day moving average of $211.61 and a two-hundred day moving average of $201.64. JPMorgan Chase & Co. has a 12 month low of $135.19 and a 12 month high of $225.48.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Friday, July 12th. The financial services provider reported $6.12 EPS for the quarter, beating the consensus estimate of $4.19 by $1.93. The company had revenue of $50.80 billion during the quarter, compared to analysts’ expectations of $42.23 billion. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. During the same quarter in the previous year, the business earned $4.37 EPS. On average, research analysts expect that JPMorgan Chase & Co. will post 16.78 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be paid a $1.25 dividend. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 annualized dividend and a dividend yield of 2.37%. The ex-dividend date is Friday, October 4th. JPMorgan Chase & Co.’s payout ratio is currently 25.66%.

JPMorgan Chase & Co. Profile

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.