JPMorgan Chase & Co. $JPM Shares Sold by Gleason Group Inc.

Gleason Group Inc. cut its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 8.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,156 shares of the financial services provider’s stock after selling 1,143 shares during the period. JPMorgan Chase & Co. makes up 0.4% of Gleason Group Inc.’s holdings, making the stock its 23rd biggest holding. Gleason Group Inc.’s holdings in JPMorgan Chase & Co. were worth $3,524,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in JPM. MJT & Associates Financial Advisory Group Inc. acquired a new stake in JPMorgan Chase & Co. during the 1st quarter worth approximately $28,000. University of Illinois Foundation acquired a new position in JPMorgan Chase & Co. during the 1st quarter worth approximately $30,000. Curat Global LLC acquired a new position in JPMorgan Chase & Co. during the 1st quarter worth approximately $33,000. Ryan Investment Management Inc. acquired a new position in JPMorgan Chase & Co. during the 2nd quarter worth approximately $37,000. Finally, Christopher J. Hasenberg Inc grew its holdings in JPMorgan Chase & Co. by 212.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 106 shares in the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Linda Bammann sold 9,500 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total value of $2,830,430.00. Following the sale, the director directly owned 82,207 shares of the company’s stock, valued at approximately $24,492,753.58. This represents a 10.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.47% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on JPM shares. TD Cowen boosted their price target on shares of JPMorgan Chase & Co. from $350.00 to $370.00 and gave the stock a “buy” rating in a report on Friday. Zacks Research cut shares of JPMorgan Chase & Co. from a “strong-buy” rating to a “hold” rating in a report on Monday, September 8th. Keefe, Bruyette & Woods upped their price target on shares of JPMorgan Chase & Co. from $327.00 to $330.00 and gave the company an “outperform” rating in a research report on Wednesday, July 16th. Piper Sandler reiterated an “overweight” rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 15th. Finally, Wells Fargo & Company upped their price target on shares of JPMorgan Chase & Co. from $325.00 to $345.00 and gave the company an “overweight” rating in a research report on Tuesday, September 16th. Fifteen research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $307.70.

JPMorgan Chase & Co. Stock Performance

NYSE:JPM opened at $309.89 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.25. JPMorgan Chase & Co. has a fifty-two week low of $202.16 and a fifty-two week high of $318.01. The stock has a market cap of $852.11 billion, a PE ratio of 15.90, a price-to-earnings-growth ratio of 2.04 and a beta of 1.13. The firm’s fifty day simple moving average is $300.67 and its 200-day simple moving average is $274.72.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share for the quarter, topping analysts’ consensus estimates of $4.48 by $0.48. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The business had revenue of $44.91 billion for the quarter, compared to analysts’ expectations of $43.76 billion. During the same period in the prior year, the company posted $6.12 EPS. The business’s revenue for the quarter was down 10.5% on a year-over-year basis. Analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, October 6th will be paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Monday, October 6th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. JPMorgan Chase & Co.’s dividend payout ratio is currently 28.73%.

JPMorgan Chase & Co. Profile

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.