Berkshire Money Management Inc. Cuts Stock Position in JPMorgan Chase & Co. $JPM

Berkshire Money Management Inc. cut its stake in JPMorgan Chase & Co. (NYSE:JPM) by 21.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,516 shares of the financial services provider’s stock after selling 425 shares during the period. Berkshire Money Management Inc.’s holdings in JPMorgan Chase & Co. were worth $440,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of JPM. MJT & Associates Financial Advisory Group Inc. acquired a new stake in shares of JPMorgan Chase & Co. during the first quarter worth about $28,000. University of Illinois Foundation acquired a new stake in shares of JPMorgan Chase & Co. during the first quarter worth about $30,000. Ryan Investment Management Inc. purchased a new position in shares of JPMorgan Chase & Co. during the second quarter worth approximately $37,000. Christopher J. Hasenberg Inc grew its position in shares of JPMorgan Chase & Co. by 212.0% during the second 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 during the last quarter. Finally, Goodman Advisory Group LLC purchased a new position in shares of JPMorgan Chase & Co. during the first quarter worth approximately $76,000. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, Director Linda Bammann sold 9,500 shares of the firm’s 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 sale, the director owned 82,207 shares of the company’s stock, valued at approximately $24,492,753.58. This trade represents a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.47% of the company’s stock.

JPMorgan Chase & Co. Trading Up 2.4%

NYSE JPM opened at $308.08 on Tuesday. JPMorgan Chase & Co. has a 12 month low of $202.16 and a 12 month high of $318.01. The company has a 50-day moving average of $301.89 and a 200-day moving average of $277.44. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.88. The company has a market cap of $847.15 billion, a P/E ratio of 15.81, a P/E/G ratio of 1.94 and a beta of 1.13.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.48 by $0.48. The firm had revenue of $44.91 billion during the quarter, compared to the consensus estimate of $43.76 billion. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The company’s revenue was down 10.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $6.12 EPS. As a group, equities analysts predict 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 will be paid on Friday, October 31st. Stockholders of record on Monday, October 6th will be given a dividend of $1.50 per share. The ex-dividend date of this dividend is Monday, October 6th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.9%. JPMorgan Chase & Co.’s dividend payout ratio is 30.79%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on JPM. Phillip Securities lowered shares of JPMorgan Chase & Co. from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, July 16th. Truist Financial raised their target price on shares of JPMorgan Chase & Co. from $290.00 to $319.00 and gave the stock a “hold” rating in a research report on Tuesday, September 23rd. Citigroup raised their target price on shares of JPMorgan Chase & Co. from $275.00 to $325.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 24th. Piper Sandler restated an “overweight” rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 15th. Finally, Hsbc Global Res lowered shares of JPMorgan Chase & Co. from a “hold” rating to a “moderate sell” rating in a research report on Tuesday, July 8th. Fifteen equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $316.00.

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.