Brian Low Financial Group LLC has acquired a new stake in JPMorgan Chase & Co. (NYSE: JPM) during the second quarter of 2023, as reported by HoldingsChannel.com. The firm purchased 9,235 shares, valued at approximately $2.68 million. This investment now represents around 2.5% of Brian Low Financial Group’s overall portfolio, making it the firm’s seventh largest holding.
Several other institutional investors have also adjusted their positions in JPMorgan Chase recently. Brighton Jones LLC increased its holdings by 11.0% in the fourth quarter, bringing its total to 48,732 shares, valued at $11.68 million after acquiring an additional 4,841 shares. Similarly, Acorns Advisers LLC boosted its stake by 6.9% in the first quarter, now holding 1,547 shares valued at $379,000. Summit Trail Advisors LLC raised its position by 10.5%, with 99,119 shares valued at $24.31 million after an additional purchase of 9,397 shares. Rossby Financial LLC significantly increased its holdings by 41.4%, now owning 4,143 shares valued at $1.01 million. Yukon Wealth Management Inc. also entered the market with a new position valued at around $2.19 million. Institutional investors and hedge funds collectively own 71.55% of the company’s stock.
Analyst Ratings and Market Activity
A number of research analysts have recently provided updates on JPMorgan Chase. Loop Capital has set a target price of $310.00, while DZ Bank maintained a “neutral” rating. KGI Securities raised its target from $300.00 to $315.00, also issuing a “hold” rating. Wolfe Research increased its target price from $342.00 to $346.00, rating the stock as “outperform.” Truist Financial raised its price objective from $290.00 to $319.00, maintaining a “hold” rating.
Currently, JPMorgan Chase & Co. has received an average rating of “Moderate Buy” with an average target price of $326.38. Two analysts have assigned a “Strong Buy” rating, fourteen a “Buy,” nine a “Hold,” and three a “Sell.”
In related news, Director Linda Bammann sold 9,500 shares on September 2, 2023, at an average price of $297.94, totaling $2.83 million. Following this sale, Bammann holds 82,207 shares valued at approximately $24.49 million, reflecting a 10.36% decrease in her position. The transaction is documented in a filing with the Securities and Exchange Commission.
Financial Performance and Dividend Announcement
Shares of JPMorgan Chase opened at $309.36 on Wednesday, with a market capitalization of $850.66 billion. The company’s 50-day simple moving average stands at $305.42, while its 200-day average is at $285.96. The stock has experienced a one-year low of $202.16 and a high of $318.01.
On October 14, 2023, JPMorgan Chase reported earnings of $5.07 per share for the quarter, surpassing analysts’ expectations of $4.83 by $0.24. The firm generated a revenue of $46.43 billion, exceeding the consensus estimate of $44.42 billion. The company’s net margin stands at 20.90%, with a return on equity of 17.18%. Revenue increased by 8.8% year-over-year, up from $4.37 earnings per share in the previous year.
Additionally, JPMorgan Chase announced an increase in its quarterly dividend, which was paid on October 31, 2023. Shareholders of record on October 6, 2023 received a dividend of $1.50 per share, up from the previous $1.40. This reflects an annualized dividend of $6.00 and a yield of 1.9%. The current dividend payout ratio is 29.72%.
JPMorgan Chase & Co., a leading financial holding company, provides a wide range of financial and investment banking services. Its operations span various segments, including Consumer and Community Banking, Commercial and Investment Banking, Asset and Wealth Management, and Corporate services.
