Parallel Advisors LLC Purchases 2,577 Shares of JPMorgan Chase & Co. $JPM

Parallel Advisors LLC lifted its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 139,435 shares of the financial services provider’s stock after purchasing an additional 2,577 shares during the period. JPMorgan Chase & Co. accounts for 0.6% of Parallel Advisors LLC’s portfolio, making the stock its 25th largest holding. Parallel Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $46,129,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of JPM. Horizons Wealth Management bought a new position in JPMorgan Chase & Co. during the third quarter worth about $31,000. Aventus Investment Advisors Inc. bought a new stake in JPMorgan Chase & Co. in the second quarter valued at approximately $33,000. Timbuktu Capital Management LLC bought a new stake in JPMorgan Chase & Co. in the second quarter valued at approximately $50,000. Team Financial Group LLC bought a new stake in JPMorgan Chase & Co. in the third quarter valued at approximately $50,000. Finally, NI Acquisitions Company LLC acquired a new stake in shares of JPMorgan Chase & Co. in the second quarter valued at approximately $51,000. 71.55% of the stock is owned by institutional investors.

JPMorgan Chase & Co. Stock Up 0.4%

JPMorgan Chase & Co. stock opened at $343.35 on Thursday. The company’s 50-day moving average price is $341.06 and its two-hundred day moving average price is $324.40. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.31. The stock has a market cap of $911.80 billion, a P/E ratio of 14.40, a P/E/G ratio of 1.35 and a beta of 1.03. JPMorgan Chase & Co. has a twelve month low of $279.10 and a twelve month high of $366.50.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Tuesday, October 13th. The financial services provider reported $5.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.94 by ($0.19). JPMorgan Chase & Co. had a return on equity of 18.48% and a net margin of 21.85%. The firm had revenue of $50.17 billion for the quarter, compared to the consensus estimate of $51.23 billion. During the same quarter in the prior year, the firm earned $5.07 EPS. The company’s revenue was up 8.1% on a year-over-year basis. As a group, analysts expect that JPMorgan Chase & Co. will post 23.95 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Saturday, October 31st. Investors of record on Tuesday, October 6th were issued a dividend of $1.65 per share. This represents a $6.60 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Tuesday, October 6th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.50. JPMorgan Chase & Co.’s payout ratio is 27.68%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Barclays boosted their target price on JPMorgan Chase & Co. from $420.00 to $425.00 and gave the stock an “overweight” rating in a report on Wednesday, October 14th. The Goldman Sachs Group reaffirmed an “outperform” rating and set a $392.00 price target on shares of JPMorgan Chase & Co. in a report on Tuesday, October 13th. Bank of America raised their price target on JPMorgan Chase & Co. from $408.00 to $420.00 and gave the company a “buy” rating in a report on Thursday, July 16th. Wells Fargo & Company lifted their price objective on shares of JPMorgan Chase & Co. from $375.00 to $390.00 and gave the stock an “overweight” rating in a research report on Friday, August 14th. Finally, Citigroup decreased their price objective on shares of JPMorgan Chase & Co. from $360.00 to $350.00 and set a “neutral” rating on the stock in a report on Thursday, October 15th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and thirteen have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $368.33.

Latest JPMorgan Chase & Co. News

These are some of the JPM news items that stood out recently:

• Positive Sentiment: JPMorgan is taking a lead role in Anthropic’s planned IPO, including domestic retail marketing and share allocations. The offering could be a major transaction, giving JPMorgan a chance to earn fees and showcase its investment-banking franchise; CEO Jamie Dimon’s participation also raises the bank’s profile. JPMorgan takes lead role in Anthropic IPO
• Neutral Sentiment: JPMorgan is lead arranger for a $2.85 billion financing package supporting CCC Intelligent Solutions’ buyout. The deal indicates continued lending activity, but the article provides no estimate of fees or likely effect on earnings. CCC Intelligent Solutions financing
• Negative Sentiment: A report says JPMorgan may sell about $2 billion of Qualtrics-related debt at roughly 85 cents on the dollar. If the bank holds the debt and sells at that discount, it could crystallize a loss; the article does not clarify the potential impact on JPMorgan’s results. JPMorgan may sell Qualtrics debt at a discount

Insiders Place Their Bets

In related news, insider Robin Leopold sold 2,500 shares of the business’s stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $352.81, for a total value of $882,025.00. Following the completion of the sale, the insider directly owned 71,047 shares in the company, valued at $25,066,092.07. The trade was a 3.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.41% of the company’s stock.

About JPMorgan Chase & Co.

JPMorgan Chase & Co. is a global financial services company serving consumers, businesses, institutional clients and governments. Its operations include consumer and community banking, corporate and investment banking, commercial banking, and asset and wealth management. The company offers services such as deposit accounts, credit cards, mortgages, auto financing, lending, payment processing and investment advice. It also provides institutional clients with investment banking, markets, treasury and securities services, and commercial lending.