Verity & Verity LLC Grows Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Verity & Verity LLC increased its stake in JPMorgan Chase & Co. (NYSE:JPM) by 1.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 110,916 shares of the financial services provider’s stock after acquiring an additional 2,017 shares during the period. JPMorgan Chase & Co. makes up approximately 2.6% of Verity & Verity LLC’s investment portfolio, making the stock its 10th biggest position. Verity & Verity LLC’s holdings in JPMorgan Chase & Co. were worth $22,434,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Capital International Ltd. CA boosted its stake in JPMorgan Chase & Co. by 1.8% in the 4th quarter. Capital International Ltd. CA now owns 164,182 shares of the financial services provider’s stock worth $27,927,000 after purchasing an additional 2,907 shares during the period. Capital International Sarl lifted its stake in JPMorgan Chase & Co. by 10.4% in the 4th quarter. Capital International Sarl now owns 236,374 shares of the financial services provider’s stock worth $40,207,000 after acquiring an additional 22,287 shares in the last quarter. Amussen Hunsaker Associates LLC boosted its position in JPMorgan Chase & Co. by 9.0% during the fourth quarter. Amussen Hunsaker Associates LLC now owns 3,108 shares of the financial services provider’s stock valued at $529,000 after purchasing an additional 257 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in JPMorgan Chase & Co. by 162.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 430,833 shares of the financial services provider’s stock valued at $73,285,000 after purchasing an additional 266,492 shares in the last quarter. Finally, Morningstar Investment Management LLC purchased a new position in JPMorgan Chase & Co. in the fourth quarter valued at about $3,053,000. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on JPM. Keefe, Bruyette & Woods lifted their price target on JPMorgan Chase & Co. from $209.00 to $211.00 and gave the company a “market perform” rating in a report on Tuesday, July 9th. Citigroup lifted their price target on JPMorgan Chase & Co. from $205.00 to $215.00 and gave the stock a “neutral” rating in a research report on Monday, July 15th. Piper Sandler raised their price objective on shares of JPMorgan Chase & Co. from $220.00 to $230.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $235.00 target price on shares of JPMorgan Chase & Co. in a research report on Tuesday, September 3rd. Finally, Barclays increased their price target on shares of JPMorgan Chase & Co. from $212.00 to $217.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Nine equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $211.31.

JPMorgan Chase & Co. Stock Down 1.8 %

Shares of JPMorgan Chase & Co. stock opened at $207.04 on Wednesday. The firm has a market cap of $594.55 billion, a PE ratio of 11.55, a P/E/G ratio of 2.39 and a beta of 1.12. The business’s 50 day simple moving average is $211.42 and its 200 day simple moving average is $202.85. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.91 and a current ratio of 0.91. JPMorgan Chase & Co. has a 52-week low of $135.19 and a 52-week high of $225.48.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Friday, July 12th. The financial services provider reported $6.12 earnings per share for the quarter, beating the consensus estimate of $4.19 by $1.93. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. The business had revenue of $50.80 billion during the quarter, compared to analysts’ expectations of $42.23 billion. During the same period last year, the business earned $4.37 earnings per share. On average, analysts predict that JPMorgan Chase & Co. will post 16.72 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 4th will be given a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $5.00 dividend on an annualized basis and a yield of 2.41%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend payout ratio is currently 27.89%.

JPMorgan Chase & Co. Company Profile

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; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.