Shikiar Asset Management Inc. Raises Holdings in JPMorgan Chase & Co. $JPM

Shikiar Asset Management Inc. grew its stake in JPMorgan Chase & Co. (NYSE:JPM) by 20.9% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 2,891 shares of the financial services provider’s stock after buying an additional 500 shares during the quarter. Shikiar Asset Management Inc.’s holdings in JPMorgan Chase & Co. were worth $838,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in the company. Kingstone Capital Partners Texas LLC increased its stake in shares of JPMorgan Chase & Co. by 609,867.5% during the second quarter. Kingstone Capital Partners Texas LLC now owns 72,897,211 shares of the financial services provider’s stock worth $21,133,630,000 after buying an additional 72,885,260 shares during the period. Bank of New York Mellon Corp increased its stake in shares of JPMorgan Chase & Co. by 1.9% during the first quarter. Bank of New York Mellon Corp now owns 24,801,153 shares of the financial services provider’s stock worth $6,083,723,000 after buying an additional 454,226 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of JPMorgan Chase & Co. by 2.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 20,548,182 shares of the financial services provider’s stock valued at $5,040,469,000 after acquiring an additional 548,853 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of JPMorgan Chase & Co. by 5.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 18,441,044 shares of the financial services provider’s stock valued at $4,523,588,000 after acquiring an additional 890,553 shares during the last quarter. Finally, Nuveen LLC purchased a new position in shares of JPMorgan Chase & Co. in the 1st quarter valued at about $3,972,807,000. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Linda Bammann sold 9,500 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $297.94, for a total value of $2,830,430.00. Following the completion of the sale, the director directly owned 82,207 shares of the company’s stock, valued at $24,492,753.58. This represents a 10.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.47% of the stock is currently owned by company insiders.

JPMorgan Chase & Co. Stock Down 0.2%

Shares of NYSE JPM opened at $297.81 on Monday. The stock has a market cap of $818.91 billion, a PE ratio of 14.75, a price-to-earnings-growth ratio of 1.80 and a beta of 1.13. The company has a quick ratio of 0.88, a current ratio of 0.86 and a debt-to-equity ratio of 1.26. JPMorgan Chase & Co. has a 52-week low of $202.16 and a 52-week high of $318.01. The business has a 50-day moving average price of $302.82 and a 200 day moving average price of $279.12.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.83 by $0.24. The firm had revenue of $46.43 billion during the quarter, compared to analysts’ expectations of $44.42 billion. JPMorgan Chase & Co. had a return on equity of 17.18% and a net margin of 20.90%.The business’s revenue was up 8.8% on a year-over-year basis. During the same period in the prior year, the firm earned $4.37 EPS. Equities research analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, October 6th will be given a $1.50 dividend. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Monday, October 6th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.0%. JPMorgan Chase & Co.’s payout ratio is currently 29.72%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. KGI Securities increased their price objective on JPMorgan Chase & Co. from $300.00 to $315.00 and gave the company a “hold” rating in a report on Wednesday, October 15th. Truist Financial increased their price objective on JPMorgan Chase & Co. from $290.00 to $319.00 and gave the company a “hold” rating in a report on Tuesday, September 23rd. Wolfe Research increased their price objective on JPMorgan Chase & Co. from $342.00 to $346.00 and gave the company an “outperform” rating in a report on Thursday. Citigroup increased their price objective on JPMorgan Chase & Co. from $275.00 to $325.00 and gave the company a “neutral” rating in a report on Wednesday, September 24th. Finally, Cowen reiterated a “buy” rating on shares of JPMorgan Chase & Co. in a report on Wednesday, July 16th. Fifteen investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, JPMorgan Chase & Co. presently has an average rating of “Hold” and an average target price of $322.86.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.