Hills Bank & Trust Co lowered its position in JPMorgan Chase & Co. (NYSE:JPM) by 1.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 64,180 shares of the financial services provider’s stock after selling 782 shares during the period. JPMorgan Chase & Co. makes up approximately 1.2% of Hills Bank & Trust Co’s investment portfolio, making the stock its 17th largest holding. Hills Bank & Trust Co’s holdings in JPMorgan Chase & Co. were worth $9,334,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of the company. Bank Julius Baer & Co. Ltd Zurich lifted its holdings in JPMorgan Chase & Co. by 97,681.8% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 2,056,747,063 shares of the financial services provider’s stock valued at $299,133,293,000 after acquiring an additional 2,054,643,659 shares during the period. Moneta Group Investment Advisors LLC lifted its holdings in JPMorgan Chase & Co. by 105,652.2% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 98,000,567 shares of the financial services provider’s stock valued at $13,141,876,000 after acquiring an additional 97,907,897 shares during the period. Norges Bank acquired a new position in JPMorgan Chase & Co. in the fourth quarter valued at approximately $3,894,646,000. Price T Rowe Associates Inc. MD lifted its holdings in JPMorgan Chase & Co. by 71.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 30,484,094 shares of the financial services provider’s stock valued at $4,087,917,000 after acquiring an additional 12,654,947 shares during the period. Finally, Morgan Stanley lifted its holdings in JPMorgan Chase & Co. by 15.9% in the fourth quarter. Morgan Stanley now owns 59,049,256 shares of the financial services provider’s stock valued at $7,918,506,000 after acquiring an additional 8,088,433 shares during the period. Hedge funds and other institutional investors own 68.94% of the company’s stock.
Wall Street Analyst Weigh In
Several brokerages have recently weighed in on JPM. Credit Suisse Group upped their target price on JPMorgan Chase & Co. from $160.00 to $170.00 in a research note on Monday, July 17th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $158.00 target price on shares of JPMorgan Chase & Co. in a research note on Friday, September 8th. Atlantic Securities upped their target price on JPMorgan Chase & Co. from $150.00 to $160.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 1st. Piper Sandler upped their target price on JPMorgan Chase & Co. from $158.00 to $168.00 in a research note on Monday, July 17th. Finally, Evercore ISI upped their target price on JPMorgan Chase & Co. from $158.00 to $167.00 in a research note on Thursday, October 5th. Eight investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $168.26.
JPMorgan Chase & Co. Stock Down 0.2 %
Shares of NYSE:JPM opened at $144.77 on Tuesday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.28. The business has a fifty day moving average of $148.40 and a two-hundred day moving average of $143.00. The stock has a market cap of $420.71 billion, a P/E ratio of 9.32, a PEG ratio of 1.85 and a beta of 1.10. JPMorgan Chase & Co. has a 52-week low of $101.28 and a 52-week high of $159.38.
JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last issued its earnings results on Friday, July 14th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.62 by $0.75. The company had revenue of $42.40 billion during the quarter, compared to analysts’ expectations of $38.66 billion. JPMorgan Chase & Co. had a return on equity of 17.29% and a net margin of 23.45%. The firm’s quarterly revenue was up 34.1% on a year-over-year basis. During the same period in the prior year, the business earned $2.76 EPS. On average, research analysts expect that JPMorgan Chase & Co. will post 15.68 earnings per share for the current year.
JPMorgan Chase & Co. Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, October 6th will be issued a dividend of $1.05 per share. The ex-dividend date is Thursday, October 5th. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.00. This represents a $4.20 dividend on an annualized basis and a dividend yield of 2.90%. JPMorgan Chase & Co.’s dividend payout ratio is currently 27.03%.
Insider Transactions at JPMorgan Chase & Co.
In other news, General Counsel Stacey Friedman sold 4,310 shares of the stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $144.86, for a total transaction of $624,346.60. Following the completion of the transaction, the general counsel now directly owns 53,425 shares in the company, valued at approximately $7,739,145.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.79% of the company’s stock.
JPMorgan Chase & Co. 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 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.
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