Stance Capital LLC Makes New Investment in JPMorgan Chase & Co. $JPM

Stance Capital LLC bought a new stake in JPMorgan Chase & Co. (NYSE:JPM) in the 2nd quarter, Holdings Channel.com reports. The fund bought 8,647 shares of the financial services provider’s stock, valued at approximately $2,507,000. JPMorgan Chase & Co. makes up 0.9% of Stance Capital LLC’s investment portfolio, making the stock its 18th largest holding.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in JPM. Cim Investment Management Inc. increased its position in JPMorgan Chase & Co. by 95.6% during the 2nd quarter. Cim Investment Management Inc. now owns 26,916 shares of the financial services provider’s stock worth $7,140,000 after purchasing an additional 13,156 shares in the last quarter. Pathway Financial Advisers LLC raised its position in JPMorgan Chase & Co. by 0.8% during the 2nd quarter. Pathway Financial Advisers LLC now owns 31,678 shares of the financial services provider’s stock worth $9,184,000 after purchasing an additional 244 shares during the last quarter. Clarion Wealth Managment Partners LLC acquired a new position in shares of JPMorgan Chase & Co. in the second quarter worth approximately $583,000. Kentucky Retirement Systems boosted its stake in shares of JPMorgan Chase & Co. by 1.8% in the 2nd quarter. Kentucky Retirement Systems now owns 195,309 shares of the financial services provider’s stock valued at $56,622,000 after purchasing an additional 3,416 shares during the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund grew its holdings in JPMorgan Chase & Co. by 1.5% during the 2nd quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 82,956 shares of the financial services provider’s stock worth $24,050,000 after acquiring an additional 1,224 shares during the period. 71.55% of the stock is currently owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Price Performance

Shares of NYSE:JPM opened at $318.74 on Monday. The company has a 50 day moving average of $306.77 and a 200 day moving average of $296.86. The stock has a market cap of $867.69 billion, a P/E ratio of 15.79, a P/E/G ratio of 1.65 and a beta of 1.08. JPMorgan Chase & Co. has a 12 month low of $202.16 and a 12 month high of $322.25. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.26.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.83 by $0.24. The business had revenue of $47.12 billion for the quarter, compared to analysts’ expectations of $44.42 billion. JPMorgan Chase & Co. had a net margin of 20.90% and a return on equity of 17.18%. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period in the prior year, the company posted $4.37 EPS. As a group, sell-side analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Saturday, January 31st. Investors of record on Tuesday, January 6th will be given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 1.9%. The ex-dividend date is Tuesday, January 6th. JPMorgan Chase & Co.’s payout ratio is presently 29.72%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Truist Financial boosted their target price on shares of JPMorgan Chase & Co. from $290.00 to $319.00 and gave the company a “hold” rating in a research report on Tuesday, September 23rd. Morgan Stanley set a $331.00 price target on JPMorgan Chase & Co. in a research report on Tuesday, December 9th. Piper Sandler boosted their target price on shares of JPMorgan Chase & Co. from $332.00 to $336.00 and gave the company an “overweight” rating in a research note on Wednesday, December 10th. Daiwa Capital Markets raised their price target on shares of JPMorgan Chase & Co. from $330.00 to $332.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 8th. Finally, KGI Securities lifted their price target on shares of JPMorgan Chase & Co. from $300.00 to $315.00 and gave the stock a “hold” rating in a report on Wednesday, October 15th. Fifteen analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $326.81.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, insider Robin Leopold sold 966 shares of the firm’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $311.92, for a total value of $301,314.72. Following the sale, the insider owned 58,479 shares of the company’s stock, valued at $18,240,769.68. This trade represents a 1.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.47% of the stock is owned by corporate insiders.

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.