Corundum Group Inc. Has $2.73 Million Position in JPMorgan Chase & Co. (NYSE:JPM)

Corundum Group Inc. raised its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 30.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,494 shares of the financial services provider’s stock after buying an additional 3,185 shares during the quarter. JPMorgan Chase & Co. comprises 1.1% of Corundum Group Inc.’s investment portfolio, making the stock its 21st largest holding. Corundum Group Inc.’s holdings in JPMorgan Chase & Co. were worth $2,729,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of JPM. Norges Bank acquired a new position in shares of JPMorgan Chase & Co. during the fourth quarter worth approximately $6,016,878,000. Swedbank AB bought a new stake in shares of JPMorgan Chase & Co. during the first quarter valued at approximately $800,130,000. Capital Research Global Investors increased its position in shares of JPMorgan Chase & Co. by 23.3% during the first quarter. Capital Research Global Investors now owns 17,200,124 shares of the financial services provider’s stock valued at $3,445,185,000 after purchasing an additional 3,252,451 shares during the period. Capital International Investors increased its position in shares of JPMorgan Chase & Co. by 5.4% during the fourth quarter. Capital International Investors now owns 41,516,695 shares of the financial services provider’s stock valued at $7,062,094,000 after purchasing an additional 2,128,478 shares during the period. Finally, Public Employees Retirement Association of Colorado increased its position in shares of JPMorgan Chase & Co. by 3,836.2% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 1,518,969 shares of the financial services provider’s stock valued at $258,377,000 after purchasing an additional 1,480,379 shares during the period. 71.55% of the stock is currently owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Trading Up 0.6 %

NYSE:JPM traded up $1.31 during mid-day trading on Thursday, hitting $211.55. The company had a trading volume of 6,649,015 shares, compared to its average volume of 9,229,322. JPMorgan Chase & Co. has a fifty-two week low of $135.19 and a fifty-two week high of $217.56. The business’s fifty day moving average is $204.39 and its two-hundred day moving average is $195.14. 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 $607.50 billion, a P/E ratio of 11.80, a P/E/G ratio of 2.42 and a beta of 1.12.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Friday, July 12th. The financial services provider reported $6.12 earnings per share for the quarter, beating the consensus estimate of $4.19 by $1.93. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. The firm had revenue of $50.80 billion for the quarter, compared to analyst estimates of $42.23 billion. During the same quarter in the prior year, the firm posted $4.37 earnings per share. As a group, research analysts expect that JPMorgan Chase & Co. will post 16.78 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Friday, July 5th were issued a $1.15 dividend. The ex-dividend date was Friday, July 5th. This represents a $4.60 annualized dividend and a dividend yield of 2.17%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 25.66%.

Analyst Upgrades and Downgrades

JPM has been the topic of a number of research reports. Piper Sandler boosted their price objective on JPMorgan Chase & Co. from $220.00 to $230.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Citigroup boosted their price objective on JPMorgan Chase & Co. from $205.00 to $215.00 and gave the company a “neutral” rating in a research report on Monday, July 15th. Wells Fargo & Company boosted their price objective on JPMorgan Chase & Co. from $220.00 to $225.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Keefe, Bruyette & Woods boosted their price objective on JPMorgan Chase & Co. from $209.00 to $211.00 and gave the company a “market perform” rating in a research report on Tuesday, July 9th. Finally, Morgan Stanley upped their price target on JPMorgan Chase & Co. from $221.00 to $226.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Eight analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, JPMorgan Chase & Co. has an average rating of “Moderate Buy” and an average price target of $205.71.

Insiders Place Their Bets

In related news, insider Ashley Bacon sold 5,086 shares of the stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $199.54, for a total transaction of $1,014,860.44. Following the completion of the transaction, the insider now directly owns 212,265 shares in the company, valued at $42,355,358.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Lori A. Beer sold 5,298 shares of the stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $200.64, for a total transaction of $1,062,990.72. Following the completion of the transaction, the insider now directly owns 46,375 shares in the company, valued at $9,304,680. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Ashley Bacon sold 5,086 shares of the stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $199.54, for a total value of $1,014,860.44. Following the transaction, the insider now owns 212,265 shares of the company’s stock, valued at $42,355,358.10. The disclosure for this sale can be found here. Insiders sold 14,799 shares of company stock worth $2,963,721 over the last ninety days. 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.