SouthState Corp Acquires 5,555 Shares of JPMorgan Chase & Co. $JPM

SouthState Corp lifted its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 3.4% during the 2nd quarter, Holdings Channel reports. The firm owned 167,543 shares of the financial services provider’s stock after purchasing an additional 5,555 shares during the quarter. JPMorgan Chase & Co. comprises 2.1% of SouthState Corp’s holdings, making the stock its 7th largest position. SouthState Corp’s holdings in JPMorgan Chase & Co. were worth $48,572,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in JPM. Brighton Jones LLC grew its stake in shares of JPMorgan Chase & Co. by 11.0% in the 4th quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider’s stock valued at $11,682,000 after buying an additional 4,841 shares during the period. Acorns Advisers LLC boosted its holdings in JPMorgan Chase & Co. by 6.9% in the first quarter. Acorns Advisers LLC now owns 1,547 shares of the financial services provider’s stock worth $379,000 after acquiring an additional 100 shares in the last quarter. IFC Advisors LLC increased its holdings in shares of JPMorgan Chase & Co. by 0.4% during the first quarter. IFC Advisors LLC now owns 34,856 shares of the financial services provider’s stock valued at $8,550,000 after acquiring an additional 153 shares in the last quarter. Riversedge Advisors LLC increased its holdings in shares of JPMorgan Chase & Co. by 12.6% during the first quarter. Riversedge Advisors LLC now owns 2,911 shares of the financial services provider’s stock valued at $714,000 after acquiring an additional 326 shares in the last quarter. Finally, Rational Advisors Inc. lifted its holdings in shares of JPMorgan Chase & Co. by 41.9% in the 1st quarter. Rational Advisors Inc. now owns 2,775 shares of the financial services provider’s stock worth $681,000 after purchasing an additional 820 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Linda Bammann sold 9,500 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the completion of the transaction, the director directly owned 82,207 shares of the company’s stock, valued at $24,492,753.58. This represents a 10.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robin Leopold sold 966 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $311.92, for a total transaction of $301,314.72. Following the sale, the insider owned 58,479 shares of the company’s stock, valued at approximately $18,240,769.68. The trade was a 1.63% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.47% of the stock is currently owned by corporate insiders.

JPMorgan Chase & Co. Stock Performance

JPM stock opened at $303.63 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.86 and a debt-to-equity ratio of 1.26. The firm has a market cap of $826.55 billion, a PE ratio of 15.04, a P/E/G ratio of 1.84 and a beta of 1.14. The business has a 50 day moving average of $307.51 and a 200-day moving average of $289.72. JPMorgan Chase & Co. has a 12-month low of $202.16 and a 12-month high of $322.25.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $5.07 EPS for the quarter, topping analysts’ consensus estimates of $4.83 by $0.24. The business had revenue of $47.12 billion for the quarter, compared to analyst estimates of $44.42 billion. JPMorgan Chase & Co. had a return on equity of 17.18% and a net margin of 20.90%.JPMorgan Chase & Co.’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same period last year, the company posted $4.37 earnings per share. As a group, sell-side analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Monday, October 6th were given a dividend of $1.50 per share. The ex-dividend date was Monday, October 6th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. This represents a $6.00 annualized dividend and a yield of 2.0%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 29.72%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Citigroup boosted their price target on shares of JPMorgan Chase & Co. from $275.00 to $325.00 and gave the company a “neutral” rating in a research note on Wednesday, September 24th. Evercore ISI upped their target price on shares of JPMorgan Chase & Co. from $309.00 to $330.00 and gave the stock an “outperform” rating in a report on Tuesday, September 30th. Wall Street Zen upgraded JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Keefe, Bruyette & Woods increased their price objective on JPMorgan Chase & Co. from $330.00 to $354.00 and gave the stock an “outperform” rating in a research note on Friday, October 10th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and set a $343.00 target price on shares of JPMorgan Chase & Co. in a research report on Tuesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $326.38.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.