JPMorgan Chase & Co. $JPM Stock Acquired by Sax Wealth Advisors LLC

Sax Wealth Advisors LLC raised its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 94.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 48,905 shares of the financial services provider’s stock after purchasing an additional 23,691 shares during the quarter. Sax Wealth Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $16,179,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in JPM. Bank of America Corp DE raised its stake in JPMorgan Chase & Co. by 15.8% during the first quarter. Bank of America Corp DE now owns 65,660,460 shares of the financial services provider’s stock worth $19,314,681,000 after acquiring an additional 8,941,351 shares in the last quarter. Ascentis Wealth Management LLC boosted its holdings in JPMorgan Chase & Co. by 32,672.0% in the second quarter. Ascentis Wealth Management LLC now owns 4,647,071 shares of the financial services provider’s stock valued at $1,521,126,000 after acquiring an additional 4,632,891 shares during the last quarter. Jupiter Topco LLC bought a new position in shares of JPMorgan Chase & Co. in the 2nd quarter valued at about $1,274,097,000. Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of JPMorgan Chase & Co. by 31.5% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 6,944,004 shares of the financial services provider’s stock worth $2,042,648,000 after purchasing an additional 1,662,250 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its position in shares of JPMorgan Chase & Co. by 22.9% during the 2nd quarter. Canada Pension Plan Investment Board now owns 8,020,990 shares of the financial services provider’s stock worth $2,625,511,000 after buying an additional 1,496,676 shares during the period. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Trading Up 0.3%

NYSE JPM traded up $0.90 during trading hours on Tuesday, reaching $335.20. The company’s stock had a trading volume of 7,769,439 shares, compared to its average volume of 9,182,284. The firm has a fifty day simple moving average of $350.00 and a 200-day simple moving average of $329.24. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.85 and a quick ratio of 0.85. JPMorgan Chase & Co. has a 52 week low of $279.10 and a 52 week high of $366.50. The stock has a market cap of $891.02 billion, a P/E ratio of 14.36, a P/E/G ratio of 1.37 and a beta of 1.02.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Tuesday, October 13th. The financial services provider reported $5.75 EPS for the quarter, missing analysts’ consensus estimates of $5.94 by ($0.19). JPMorgan Chase & Co. had a return on equity of 18.23% and a net margin of 21.86%. The business had revenue of $50.17 billion for the quarter, compared to analyst estimates of $51.23 billion. During the same quarter last year, the firm posted $5.07 EPS. JPMorgan Chase & Co.’s revenue for the quarter was up 8.1% on a year-over-year basis. Equities analysts forecast that JPMorgan Chase & Co. will post 24.16 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, October 31st. Stockholders of record on Tuesday, October 6th will be given a dividend of $1.65 per share. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.50. The ex-dividend date of this dividend is Tuesday, October 6th. This represents a $6.60 dividend on an annualized basis and a dividend yield of 2.0%. JPMorgan Chase & Co.’s payout ratio is currently 28.28%.

JPMorgan Chase & Co. News Summary

Here are the key news stories impacting JPMorgan Chase & Co. this week:

• Positive Sentiment: Third-quarter revenue rose approximately 8% year over year to $50.2 billion, while net income increased 6% to $15.3 billion. Consumer & Community Banking, Commercial & Investment Banking, and Asset & Wealth Management all delivered double-digit net-income growth. JPMorgan Chase Reports Third-Quarter Net Income
• Positive Sentiment: Broad-based loan and deposit growth, an 18.23% return on equity, and continued earnings growth support the view that JPMorgan’s underlying franchise remains resilient despite a challenging market backdrop. JPMorgan Earnings Miss Estimates But Reveal Broad-Based Strength
• Positive Sentiment: Technical sentiment improved after JPMorgan broke its recent downtrend and found support near $325, suggesting some investors view the pullback as a potential buying opportunity. Is JPMorgan About to Trend Higher?

Analyst Ratings Changes

JPM has been the topic of a number of research reports. Zacks Research lowered shares of JPMorgan Chase & Co. from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 14th. HSBC lifted their price target on JPMorgan Chase & Co. from $369.00 to $377.00 and gave the stock a “hold” rating in a report on Monday, September 28th. Morgan Stanley reissued a “positive” rating and issued a $370.00 price target on shares of JPMorgan Chase & Co. in a report on Wednesday, July 15th. Royal Bank Of Canada lifted their price objective on shares of JPMorgan Chase & Co. from $330.00 to $370.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 15th. Finally, Wells Fargo & Company boosted their price target on JPMorgan Chase & Co. from $375.00 to $390.00 and gave the company an “overweight” rating in a research note on Friday, August 14th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and thirteen have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $362.88.

Insider Activity at JPMorgan Chase & Co.

In related news, insider Robin Leopold sold 2,500 shares of the business’s stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $352.81, for a total value of $882,025.00. Following the completion of the sale, the insider directly owned 71,047 shares of the company’s stock, valued at $25,066,092.07. The trade was a 3.40% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.41% of the stock is currently owned by corporate insiders.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a global financial services company headquartered in New York City. Through its businesses, the company provides banking, investment banking, asset management, private banking, commercial banking, consumer lending and payment services to individuals, businesses, institutions and governments.

The company operates through major business areas that include Consumer & Community Banking, Commercial & Investment Banking, and Asset & Wealth Management. Its products and services include deposit accounts, credit cards, mortgages, auto loans, business financing, investment and advisory services, securities trading and custody, payment processing, and wealth-management solutions.

JPMorgan Chase serves customers in the United States and maintains operations and client relationships across international markets.