JPMorgan Chase & Co. $JPM Stake Increased by Parallel Advisors LLC

Parallel Advisors LLC raised its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 1.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 139,435 shares of the financial services provider’s stock after purchasing an additional 2,577 shares during the period. JPMorgan Chase & Co. makes up about 0.6% of Parallel Advisors LLC’s portfolio, making the stock its 25th largest holding. Parallel Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $46,129,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Horizons Wealth Management acquired a new stake in shares of JPMorgan Chase & Co. in the third quarter valued at approximately $31,000. Aventus Investment Advisors Inc. bought a new stake in shares of JPMorgan Chase & Co. in the second quarter valued at approximately $33,000. Timbuktu Capital Management LLC acquired a new stake in JPMorgan Chase & Co. during the second quarter worth approximately $50,000. Team Financial Group LLC acquired a new stake in JPMorgan Chase & Co. during the third quarter worth approximately $50,000. Finally, NI Acquisitions Company LLC acquired a new stake in JPMorgan Chase & Co. during the second quarter worth approximately $51,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, insider Robin Leopold sold 2,500 shares of the company’s stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $352.81, for a total transaction of $882,025.00. Following the completion of the sale, the insider directly owned 71,047 shares in the company, valued at $25,066,092.07. This represents a 3.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 owned by insiders.

More 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

JPMorgan Chase & Co. Stock Performance

Shares of JPMorgan Chase & Co. stock opened at $343.35 on Thursday. The company has a 50 day moving average of $341.06 and a 200-day moving average of $324.40. JPMorgan Chase & Co. has a 1-year low of $279.10 and a 1-year high of $366.50. 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 company has a market cap of $911.80 billion, a PE ratio of 14.40, a price-to-earnings-growth ratio of 1.35 and a beta of 1.03.

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 the consensus estimate of $5.94 by ($0.19). The firm had revenue of $50.17 billion for the quarter, compared to analyst estimates of $51.23 billion. JPMorgan Chase & Co. had a return on equity of 18.48% and a net margin of 21.85%. The business’s revenue was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $5.07 EPS. As a group, equities research analysts forecast that JPMorgan Chase & Co. will post 23.95 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

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

Analyst Upgrades and Downgrades

A number of research firms have commented on JPM. TD Cowen began coverage on JPMorgan Chase & Co. in a research note on Thursday, October 8th. They set a “hold” rating and a $370.00 price objective on the stock. Morgan Stanley upped their target price on JPMorgan Chase & Co. from $370.00 to $377.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 14th. HSBC increased their target price on JPMorgan Chase & Co. from $369.00 to $377.00 and gave the stock a “hold” rating in a report on Monday, September 28th. Jefferies Financial Group reissued a “neutral” rating on shares of JPMorgan Chase & Co. in a report on Friday, September 25th. Finally, Keefe, Bruyette & Woods restated an “outperform” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, October 14th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and thirteen have issued a Hold rating to the company. According to MarketBeat, JPMorgan Chase & Co. presently has an average rating of “Moderate Buy” and an average target price of $368.33.

JPMorgan Chase & Co. 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.