Manning & Napier Advisors LLC Takes Position in JPMorgan Chase & Co. (NYSE:JPM)

Manning & Napier Advisors LLC acquired a new stake in shares of JPMorgan Chase & Co. (NYSE:JPM) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 433,384 shares of the financial services provider’s stock, valued at approximately $87,656,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wellington Wealth Strategies LLC. purchased a new position in shares of JPMorgan Chase & Co. in the 4th quarter worth $1,145,000. Etfidea LLC grew its stake in shares of JPMorgan Chase & Co. by 5.4% in the 4th quarter. Etfidea LLC now owns 1,937 shares of the financial services provider’s stock worth $329,000 after buying an additional 100 shares in the last quarter. Cooper Financial Group grew its stake in shares of JPMorgan Chase & Co. by 12.8% in the 1st quarter. Cooper Financial Group now owns 8,693 shares of the financial services provider’s stock worth $1,741,000 after buying an additional 984 shares in the last quarter. Sutton Place Investors LLC grew its stake in shares of JPMorgan Chase & Co. by 179.5% in the 4th quarter. Sutton Place Investors LLC now owns 13,099 shares of the financial services provider’s stock worth $2,228,000 after buying an additional 8,412 shares in the last quarter. Finally, Spartan Planning & Wealth Management grew its stake in shares of JPMorgan Chase & Co. by 257.3% in the 4th quarter. Spartan Planning & Wealth Management now owns 3,780 shares of the financial services provider’s stock worth $643,000 after buying an additional 2,722 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors.

JPMorgan Chase & Co. Trading Up 0.9 %

JPMorgan Chase & Co. stock traded up $1.74 during trading hours on Friday, hitting $205.80. The company had a trading volume of 5,431,336 shares, compared to its average volume of 9,292,017. JPMorgan Chase & Co. has a 1 year low of $135.19 and a 1 year high of $217.56. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.92 and a current ratio of 0.91. The firm has a market cap of $590.99 billion, a P/E ratio of 11.48, a P/E/G ratio of 2.42 and a beta of 1.12. The company has a 50-day moving average price of $203.52 and a two-hundred day moving average price of $193.84.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Friday, July 12th. The financial services provider reported $6.12 EPS 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 analyst estimates of $42.23 billion. During the same quarter in the previous year, the business posted $4.37 EPS. On average, sell-side analysts anticipate that JPMorgan Chase & Co. will post 16.78 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Friday, July 5th were issued a $1.15 dividend. The ex-dividend date of this dividend was Friday, July 5th. This represents a $4.60 annualized dividend and a dividend yield of 2.24%. JPMorgan Chase & Co.’s dividend payout ratio is currently 25.66%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on JPM shares. Robert W. Baird lifted their price objective on shares of JPMorgan Chase & Co. from $175.00 to $185.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 21st. BMO Capital Markets lifted their price objective on shares of 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. Oppenheimer lifted their price target on shares of JPMorgan Chase & Co. from $215.00 to $221.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Piper Sandler lifted their price target 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. Finally, Wolfe Research cut shares of JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research note on Monday, July 8th. Eight research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $205.71.

Insider Activity

In other news, General Counsel Stacey Friedman sold 4,415 shares of the business’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $200.65, for a total value of $885,869.75. Following the completion of the sale, the general counsel now owns 42,124 shares in the company, valued at approximately $8,452,180.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, General Counsel Stacey Friedman sold 4,415 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $200.65, for a total transaction of $885,869.75. Following the completion of the transaction, the general counsel now owns 42,124 shares in the company, valued at approximately $8,452,180.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Marianne Lake sold 11,734 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $200.02, for a total transaction of $2,347,034.68. Following the transaction, the chief executive officer now owns 122,740 shares of the company’s stock, valued at approximately $24,550,454.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,533 shares of company stock worth $5,310,756. 0.79% of the stock is currently owned by corporate insiders.

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.