JPMorgan Chase & Co. (NYSE:JPM) shares purchased by Covenant Asset Management LLC


Covenant Asset Management LLC increased its holdings of JPMorgan Chase & Co. (NYSE:JPM) stock by 0.9% during the 1st quarter, according to the company in its latest 13F filing with the Securities & Exchange Commission. The fund held 16,245 shares of the financial services provider after buying an additional 140 shares during the quarter. Covenant Asset Management LLC’s holdings in JPMorgan Chase & Co. were worth $2,215,000 at the end of the last quarter.

Several other institutional investors and hedge funds have also recently increased or reduced their stake in JPM. Mitchell Capital Management Co. increased its stake in JPMorgan Chase & Co. shares by 4.5% in the 1st quarter. Mitchell Capital Management Co. now owns 40,670 shares of the financial services provider worth $5,544,000 after acquiring an additional 1,759 shares during the period. Total Clarity Wealth Management Inc. increased its stake in JPMorgan Chase & Co. shares by 7.5% during the 1st quarter. Total Clarity Wealth Management Inc. now owns 11,023 shares of the financial services provider worth $1,503,000 after acquiring 767 additional shares during the period. Inlet Private Wealth LLC increased its stake in JPMorgan Chase & Co. shares by 0.3% during the 1st quarter. Inlet Private Wealth LLC now owns 60,438 shares of the financial services provider worth $8,239,000 after acquiring an additional 179 shares during the period. KLK Capital Management LLC bought a new stock position in JPMorgan Chase & Co. during Q1 worth $861,000. Finally, Sather Financial Group Inc increased its stake in JPMorgan Chase & Co. shares by 86.5% during the 1st quarter. Sather Financial Group Inc now owns 8,566 shares of the financial services provider worth $1,168,000 after acquiring 3,974 additional shares during the period. Institutional investors and hedge funds hold 70.35% of the company’s shares.

JPMorgan Chase & Co. stock performance

Shares of JPMorgan Chase & Co. opened at $114.76 on Friday. JPMorgan Chase & Co. has a one-year low of $106.06 and a one-year high of $172.96. The company has a market capitalization of $337.06 billion, a PE ratio of 9.21, a P/E/G ratio of 2.05 and a beta of 1.15. The company has a debt ratio of 1.14, a quick ratio of 0.82 and a current ratio of 0.83. The company has a 50-day simple moving average of $118.84 and a 200-day simple moving average of $132.67.

JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last reported quarterly earnings data on Thursday, July 14. The financial services provider reported EPS of $2.76 for the quarter, meeting analyst consensus estimates of $2.76. JPMorgan Chase & Co. achieved a return on equity of 15.29% and a net margin of 30.41%. The company posted revenue of $30.72 billion in the quarter, versus a consensus estimate of $31.82 billion. In the same period a year earlier, the company posted earnings per share of $3.78. The company’s revenue for the quarter increased 0.8% year over year. On average, equity research analysts expect JPMorgan Chase & Co. to post EPS of 11.24 for the current fiscal year.

JPMorgan Chase & Co. dividend announcement

The company also recently declared a quarterly dividend, which will be paid on Sunday, July 31. Investors of record on Wednesday, July 6 will receive a dividend of $1.00. This represents a dividend of $4.00 on an annualized basis and a yield of 3.49%. The ex-dividend date is Tuesday, July 5. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 32.10%.

Analyst upgrades and downgrades

Several research analysts have recently commented on JPM shares. Evercore ISI cut its price target on JPMorgan Chase & Co. from $135.00 to $125.00 in a Friday, July 15 report. Piper Sandler cut her price target on JPMorgan Chase & Co. shares from $170.00 to $158.00 and set an “overweight” rating on the stock in a Friday July 1 report. Jefferies Financial Group cut its price target on JPMorgan Chase & Co. shares from $137.00 to $126.00 and set a “hold” rating on the stock in a Monday, July 11 report. Royal Bank of Canada cut its price target on JPMorgan Chase & Co. shares to $130.00 in a Thursday, July 14, report. Finally, Societe Generale upgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and raised its price target for the company from $145.00 to $150.00 in a report. Tuesday, May 24. One analyst rated the stock with a sell rating, eight assigned a hold rating and nine assigned the company a buy rating. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $145.95.

Profile of JPMorgan Chase & Co.

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JPMorgan Chase & Co operates as a worldwide financial services company. 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 s deposit, investment and lending products, payments and consumer services; lending, deposit, cash management and payment solutions for small businesses; mortgage origination and management activities; residential mortgages and home equity loans; and credit card, car loan and leasing services.

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Institutional ownership by quarter for JPMorgan Chase & Co. (NYSE: JPM)



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