Legacy Solutions LLC Invests $229,000 in JPMorgan Chase & Co. $JPM

Legacy Solutions LLC purchased a new position in JPMorgan Chase & Co. (NYSE:JPM) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 789 shares of the financial services provider’s stock, valued at approximately $229,000.

Other institutional investors have also recently made changes to their positions in the company. Kingstone Capital Partners Texas LLC boosted its stake in 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 last quarter. Nuveen LLC purchased a new stake in JPMorgan Chase & Co. in the first quarter valued at $3,972,807,000. National Bank of Canada FI raised its position in JPMorgan Chase & Co. by 44.4% in the first quarter. National Bank of Canada FI now owns 4,518,740 shares of the financial services provider’s stock valued at $1,108,415,000 after purchasing an additional 1,388,992 shares during the period. Strs Ohio purchased a new stake in JPMorgan Chase & Co. in the first quarter valued at $279,389,000. Finally, Alecta Tjanstepension Omsesidigt purchased a new stake in JPMorgan Chase & Co. in the first quarter valued at $278,493,000. 71.55% of the stock is owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Stock Up 0.9%

Shares of NYSE JPM opened at $316.12 on Friday. The stock has a market cap of $869.25 billion, a PE ratio of 16.22, a price-to-earnings-growth ratio of 2.08 and a beta of 1.13. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.25. JPMorgan Chase & Co. has a 52-week low of $202.16 and a 52-week high of $317.81. The business has a 50-day moving average price of $298.96 and a 200 day moving average price of $271.99.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.48 by $0.48. The firm had revenue of $44.91 billion during the quarter, compared to analysts’ expectations of $43.76 billion. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.The business’s revenue was down 10.5% on a year-over-year basis. During the same period in the prior year, the firm earned $6.12 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 business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, October 6th will be given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Monday, October 6th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. JPMorgan Chase & Co.’s payout ratio is 28.73%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on JPM shares. Phillip Securities downgraded JPMorgan Chase & Co. from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, July 16th. TD Securities reiterated a “buy” rating on shares of JPMorgan Chase & Co. in a report on Wednesday, June 4th. Piper Sandler reiterated an “overweight” rating on shares of JPMorgan Chase & Co. in a report on Tuesday, July 15th. Evercore ISI set a $298.00 price target on JPMorgan Chase & Co. and gave the stock an “outperform” rating in a report on Monday, July 7th. Finally, Keefe, Bruyette & Woods upped their price target on JPMorgan Chase & Co. from $327.00 to $330.00 and gave the stock an “outperform” rating in a report on Wednesday, July 16th. Thirteen investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $297.17.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $297.94, for a total transaction 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 approximately $24,492,753.58. This trade represents a 10.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.47% of the company’s stock.

JPMorgan Chase & Co. Profile

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.