Allspring Global Investments Holdings LLC Increases Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Allspring Global Investments Holdings LLC grew its stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 3.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 805,720 shares of the financial services provider's stock after purchasing an additional 24,129 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in JPMorgan Chase & Co. were worth $169,894,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of JPM. Cooper Financial Group boosted its position in JPMorgan Chase & Co. by 12.8% during the first quarter. Cooper Financial Group now owns 8,693 shares of the financial services provider's stock worth $1,741,000 after acquiring an additional 984 shares during the last quarter. Aspiriant LLC grew its holdings in shares of JPMorgan Chase & Co. by 1.1% in the first quarter. Aspiriant LLC now owns 29,728 shares of the financial services provider's stock valued at $5,955,000 after purchasing an additional 320 shares during the period. BCGM Wealth Management LLC increased its position in JPMorgan Chase & Co. by 2.8% during the first quarter. BCGM Wealth Management LLC now owns 19,061 shares of the financial services provider's stock worth $3,818,000 after purchasing an additional 516 shares during the last quarter. Accredited Investors Inc. raised its stake in JPMorgan Chase & Co. by 4.9% during the second quarter. Accredited Investors Inc. now owns 14,174 shares of the financial services provider's stock worth $2,867,000 after purchasing an additional 667 shares during the period. Finally, Bleakley Financial Group LLC grew its stake in shares of JPMorgan Chase & Co. by 1.4% in the 1st quarter. Bleakley Financial Group LLC now owns 87,063 shares of the financial services provider's stock valued at $17,439,000 after buying an additional 1,173 shares during the period. Hedge funds and other institutional investors own 71.55% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Wolfe Research downgraded JPMorgan Chase & Co. from an "outperform" rating to a "peer perform" rating in a research report on Monday, July 8th. Morgan Stanley cut JPMorgan Chase & Co. from an "overweight" rating to an "equal weight" rating and boosted their target price for the stock from $220.00 to $224.00 in a research note on Monday, September 30th. Piper Sandler increased their price target 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. Jefferies Financial Group boosted their price objective on JPMorgan Chase & Co. from $230.00 to $239.00 and gave the stock a "buy" rating in a research report on Wednesday, July 3rd. Finally, StockNews.com raised shares of JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a report on Saturday, July 13th. Nine research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $217.94.

JPMorgan Chase & Co. Stock Performance

NYSE JPM traded up $1.12 on Tuesday, reaching $224.12. The stock had a trading volume of 9,185,716 shares, compared to its average volume of 9,096,201. The stock has a market cap of $643.60 billion, a P/E ratio of 12.55, a price-to-earnings-growth ratio of 3.28 and a beta of 1.11. JPMorgan Chase & Co. has a 12-month low of $135.19 and a 12-month high of $225.92. The business's 50-day moving average price is $214.37 and its 200 day moving average price is $204.77. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.91 and a current ratio of 0.91.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, beating the consensus estimate of $4.02 by $0.35. The firm had revenue of $43.32 billion during the quarter, compared to the consensus estimate of $41.43 billion. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. JPMorgan Chase & Co.'s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.33 EPS. As a group, equities analysts expect that JPMorgan Chase & Co. will post 16.75 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 4th will be paid a $1.25 dividend. This is an increase from JPMorgan Chase & Co.'s previous quarterly dividend of $1.15. This represents a $5.00 annualized dividend and a dividend yield of 2.23%. The ex-dividend date is Friday, October 4th. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is 27.89%.

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.