First Pacific Financial has significantly increased its stake in JPMorgan Chase & Co. (NYSE:JPM) by 29.3% during the third quarter, according to its latest 13F filing with the SEC. Following a purchase of an additional 6,181 shares, the firm now holds 27,285 shares, making up about 1.2% of its total assets, and ranking it as its 16th largest investment. As of the recent filing, First Pacific Financial’s holdings in JPMorgan are valued at approximately $8.6 million.
This move reflects a broader trend, as several other institutional investors have also adjusted their positions in JPMorgan Chase. For instance, Creative Planning raised its investment by 2.2% in the previous quarter, now owning an impressive 1,364,887 shares valued at nearly $396 million. Similarly, Aviva PLC and Triangle Securities Wealth Management have increased their holdings by 6.0% and 14.1%, respectively, emphasizing strong institutional interest in the banking giant. In total, approximately 71.55% of JPMorgan Chase’s stock is owned by institutional investors.
Analysts are closely watching the stock, with varying ratings. Dbs Bank recently upgraded JPMorgan Chase to a “hold” rating, while others like Truist Financial and Piper Sandler have raised their target prices. Overall, the stock enjoys an average rating of “Hold” with a target price consensus of around $333.90, as compiled by MarketBeat.
In insider trading news, Robin Leopold, an insider at JPMorgan, sold 966 shares on November 7th, reflecting a decrease of 1.63% in ownership along with a notable financial outcome from the sale.
JPMorgan Chase’s stock opened at $329.34 recently, with key financial indicators signaling its performance: the company has a market capitalization of $896.55 billion, a P/E ratio of 16.31, and a one-year trading range between $202.16 and $337.25. Analysts predict a robust earnings outlook, estimating an EPS of 18.1 for the current fiscal year, following a reported earnings of $5.07 per share that exceeded expectations during the last quarter.
Moreover, JPMorgan Chase continues to reward its shareholders, having announced a quarterly dividend of $1.50 per share to be paid out at the end of January, representing an annual yield of 1.8%. This consistent commitment to dividends and its strong financial performance may instill confidence in investors moving forward.
As JPMorgan Chase & Co. continues to show resilience and growth, its strategic maneuvers in both share buybacks and dividends illustrate a commitment to maintaining investor confidence and market stability.