Mattern Wealth Management LLC Cuts Stock Holdings in JPMorgan Chase & Co. $JPM

Mattern Wealth Management LLC trimmed its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,575 shares of the financial services provider’s stock after selling 297 shares during the quarter. JPMorgan Chase & Co. accounts for approximately 1.6% of Mattern Wealth Management LLC’s portfolio, making the stock its 14th largest holding. Mattern Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $7,704,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. LCM Capital Management Inc boosted its holdings in shares of JPMorgan Chase & Co. by 0.9% in the 2nd quarter. LCM Capital Management Inc now owns 3,847 shares of the financial services provider’s stock worth $1,115,000 after buying an additional 36 shares during the last quarter. Lakeshore Financial Planning Inc. boosted its holdings in shares of JPMorgan Chase & Co. by 0.4% in the 2nd quarter. Lakeshore Financial Planning Inc. now owns 8,417 shares of the financial services provider’s stock worth $2,441,000 after buying an additional 37 shares during the last quarter. Western Financial Corp CA boosted its holdings in shares of JPMorgan Chase & Co. by 1.5% in the 2nd quarter. Western Financial Corp CA now owns 2,642 shares of the financial services provider’s stock worth $766,000 after buying an additional 38 shares during the last quarter. First Command Advisory Services Inc. boosted its holdings in shares of JPMorgan Chase & Co. by 0.4% in the 1st quarter. First Command Advisory Services Inc. now owns 9,306 shares of the financial services provider’s stock worth $2,283,000 after buying an additional 40 shares during the last quarter. Finally, Black Swift Group LLC boosted its holdings in shares of JPMorgan Chase & Co. by 0.7% in the 1st quarter. Black Swift Group LLC now owns 5,759 shares of the financial services provider’s stock worth $1,413,000 after buying an additional 40 shares during the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Trading Up 0.8%

Shares of JPM opened at $309.89 on Monday. The business’s 50-day moving average price is $300.67 and its 200-day moving average price is $274.97. JPMorgan Chase & Co. has a twelve month low of $202.16 and a twelve month high of $318.01. The stock has a market cap of $852.11 billion, a PE ratio of 15.90, a P/E/G ratio of 2.04 and a beta of 1.13. 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. (NYSE:JPM) last announced its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share for the quarter, beating the consensus estimate of $4.48 by $0.48. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.The firm 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 business posted $6.12 earnings per share. The company’s revenue was down 10.5% on a year-over-year basis. On average, equities analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, October 6th will be given a dividend of $1.50 per share. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. This represents a $6.00 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Monday, October 6th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 28.73%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on JPM. Cowen reissued a “buy” rating on shares of JPMorgan Chase & Co. in a report on Wednesday, July 16th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of JPMorgan Chase & Co. from $300.00 to $320.00 and gave the stock a “hold” rating in a report on Tuesday, September 30th. Phillip Securities cut JPMorgan Chase & Co. from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, July 16th. Evercore ISI boosted their price objective on JPMorgan Chase & Co. from $309.00 to $330.00 and gave the company an “outperform” rating in a research note on Tuesday, September 30th. Finally, Baird R W cut JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research note on Friday, June 27th. Fifteen equities 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 stock. Based on data from MarketBeat, JPMorgan Chase & Co. presently has an average rating of “Hold” and an average target price of $307.70.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, Director Linda Bammann sold 9,500 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the sale, the director directly owned 82,207 shares in the company, valued at $24,492,753.58. This represents a 10.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.47% of the stock is currently owned by corporate insiders.

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.