JPMorgan Chase & Co. (NYSE:JPM) Position Raised by TAM Capital Management Inc.

TAM Capital Management Inc. lifted its stake in JPMorgan Chase & Co. (NYSE:JPM) by 65.1% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 118,476 shares of the financial services provider’s stock after purchasing an additional 46,719 shares during the quarter. JPMorgan Chase & Co. comprises 14.4% of TAM Capital Management Inc.’s portfolio, making the stock its 3rd biggest holding. TAM Capital Management Inc.’s holdings in JPMorgan Chase & Co. were worth $23,963,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of JPM. Instrumental Wealth LLC increased its holdings in shares of JPMorgan Chase & Co. by 4.5% in the 2nd quarter. Instrumental Wealth LLC now owns 1,101 shares of the financial services provider’s stock valued at $230,000 after acquiring an additional 47 shares during the last quarter. Gemmer Asset Management LLC increased its stake in JPMorgan Chase & Co. by 1.6% during the second quarter. Gemmer Asset Management LLC now owns 3,135 shares of the financial services provider’s stock valued at $634,000 after purchasing an additional 48 shares during the last quarter. Great Point Wealth Advisors LLC raised its holdings in shares of JPMorgan Chase & Co. by 0.9% during the second quarter. Great Point Wealth Advisors LLC now owns 5,690 shares of the financial services provider’s stock worth $1,151,000 after purchasing an additional 48 shares during the period. Northside Capital Management LLC lifted its position in shares of JPMorgan Chase & Co. by 0.7% in the 2nd quarter. Northside Capital Management LLC now owns 6,750 shares of the financial services provider’s stock worth $1,365,000 after buying an additional 50 shares during the last quarter. Finally, Highland Financial Advisors LLC boosted its holdings in shares of JPMorgan Chase & Co. by 0.7% in the 2nd quarter. Highland Financial Advisors LLC now owns 7,056 shares of the financial services provider’s stock valued at $1,427,000 after buying an additional 50 shares during the period. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Up 0.3 %

NYSE:JPM opened at $211.09 on Friday. The business’s fifty day moving average price is $211.61 and its 200 day moving average price is $201.73. The firm has a market capitalization of $606.18 billion, a price-to-earnings ratio of 11.77, a PEG ratio of 2.33 and a beta of 1.12. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.24. JPMorgan Chase & Co. has a 1-year low of $135.19 and a 1-year high of $225.48.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Friday, July 12th. The financial services provider reported $6.12 earnings per share for the quarter, beating analysts’ consensus estimates of $4.19 by $1.93. The company had revenue of $50.80 billion for the quarter, compared to the consensus estimate of $42.23 billion. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. During the same quarter in the prior year, the company earned $4.37 EPS. On average, sell-side analysts forecast that JPMorgan Chase & Co. will post 16.78 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 4th will be paid a dividend of $1.25 per share. The ex-dividend date is Friday, October 4th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.37%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 25.66%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on JPM. StockNews.com raised shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a report on Saturday, July 13th. Piper Sandler raised their price target on JPMorgan Chase & Co. from $220.00 to $230.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. BMO Capital Markets upped their price objective on JPMorgan Chase & Co. from $195.00 to $205.00 and gave the stock a “market perform” rating in a research note on Thursday, July 11th. Evercore ISI raised their target price on JPMorgan Chase & Co. from $210.00 to $211.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. Finally, Citigroup upped their price target on shares of JPMorgan Chase & Co. from $205.00 to $215.00 and gave the stock a “neutral” rating in a research report on Monday, July 15th. Eight analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, JPMorgan Chase & Co. currently has a consensus rating of “Moderate Buy” and a consensus target price of $211.06.

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.