US Bancorp DE Has $596.07 Million Stake in JPMorgan Chase & Co. (NYSE:JPM)

US Bancorp DE decreased its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 2.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,098,396 shares of the financial services provider’s stock after selling 107,438 shares during the quarter. JPMorgan Chase & Co. accounts for about 1.0% of US Bancorp DE’s portfolio, making the stock its 19th largest holding. US Bancorp DE’s holdings in JPMorgan Chase & Co. were worth $596,071,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Ledyard National Bank raised its position in shares of JPMorgan Chase & Co. by 0.3% in the 2nd quarter. Ledyard National Bank now owns 93,940 shares of the financial services provider’s stock valued at $13,663,000 after buying an additional 323 shares in the last quarter. Nicholas Investment Partners LP raised its position in shares of JPMorgan Chase & Co. by 24.0% in the 2nd quarter. Nicholas Investment Partners LP now owns 31,897 shares of the financial services provider’s stock valued at $4,639,000 after buying an additional 6,174 shares in the last quarter. Private Advisor Group LLC raised its position in shares of JPMorgan Chase & Co. by 3.4% in the 2nd quarter. Private Advisor Group LLC now owns 333,765 shares of the financial services provider’s stock valued at $49,351,000 after buying an additional 10,829 shares in the last quarter. EagleClaw Capital Managment LLC raised its position in shares of JPMorgan Chase & Co. by 0.9% in the 2nd quarter. EagleClaw Capital Managment LLC now owns 55,735 shares of the financial services provider’s stock valued at $8,106,000 after buying an additional 508 shares in the last quarter. Finally, Nwam LLC grew its holdings in shares of JPMorgan Chase & Co. by 14.9% during the 2nd quarter. Nwam LLC now owns 21,527 shares of the financial services provider’s stock valued at $3,131,000 after purchasing an additional 2,789 shares during the last quarter. 68.94% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on JPM. Evercore ISI lifted their price target on shares of JPMorgan Chase & Co. from $158.00 to $167.00 in a report on Thursday, October 5th. Piper Sandler lifted their price target on shares of JPMorgan Chase & Co. from $168.00 to $170.00 and gave the company an “overweight” rating in a report on Monday, October 16th. Atlantic Securities boosted their target price on shares of JPMorgan Chase & Co. from $150.00 to $160.00 and gave the stock a “neutral” rating in a report on Tuesday, August 1st. Jefferies Financial Group reduced their target price on shares of JPMorgan Chase & Co. from $176.00 to $169.00 in a report on Tuesday, October 10th. Finally, HSBC initiated coverage on shares of JPMorgan Chase & Co. in a report on Thursday, September 7th. They set a “hold” rating and a $159.00 target price on the stock. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, JPMorgan Chase & Co. has an average rating of “Moderate Buy” and an average price target of $168.80.

JPMorgan Chase & Co. Stock Up 0.9 %

Shares of NYSE JPM opened at $152.82 on Monday. JPMorgan Chase & Co. has a 12-month low of $123.11 and a 12-month high of $159.38. The firm has a market cap of $441.80 billion, a PE ratio of 9.12, a P/E/G ratio of 1.80 and a beta of 1.12. The company’s fifty day simple moving average is $145.05 and its 200 day simple moving average is $145.20. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.25.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data on Friday, October 13th. The financial services provider reported $4.33 earnings per share for the quarter, beating analysts’ consensus estimates of $3.95 by $0.38. JPMorgan Chase & Co. had a net margin of 22.79% and a return on equity of 17.97%. The firm had revenue of $40.69 billion for the quarter, compared to analyst estimates of $39.63 billion. During the same period last year, the firm earned $3.12 earnings per share. The business’s quarterly revenue was up 24.4% compared to the same quarter last year. As a group, sell-side analysts forecast that JPMorgan Chase & Co. will post 16.67 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 31st. Stockholders of record on Friday, October 6th were issued a $1.05 dividend. The ex-dividend date was Thursday, October 5th. This represents a $4.20 annualized dividend and a dividend yield of 2.75%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.00. JPMorgan Chase & Co.’s dividend payout ratio is currently 25.07%.

Insider Activity

In other news, General Counsel Stacey Friedman sold 4,310 shares of the stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $144.86, for a total value of $624,346.60. Following the completion of the sale, the general counsel now owns 53,425 shares in the company, valued at $7,739,145.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.79% of the stock is currently owned by corporate insiders.

About JPMorgan Chase & Co.

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 to consumers and small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services.