626 Financial LLC Reduces Stock Holdings in JPMorgan Chase & Co. $JPM

626 Financial LLC reduced its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.9% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 10,741 shares of the financial services provider’s stock after selling 98 shares during the quarter. JPMorgan Chase & Co. accounts for approximately 1.7% of 626 Financial LLC’s holdings, making the stock its 13th largest holding. 626 Financial LLC’s holdings in JPMorgan Chase & Co. were worth $3,114,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Kingstone Capital Partners Texas LLC raised its holdings in shares of JPMorgan Chase & Co. by 609,867.5% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 72,897,211 shares of the financial services provider’s stock valued at $21,133,630,000 after buying an additional 72,885,260 shares during the period. Bank of New York Mellon Corp increased its holdings in JPMorgan Chase & Co. by 1.9% during the 1st quarter. Bank of New York Mellon Corp now owns 24,801,153 shares of the financial services provider’s stock worth $6,083,723,000 after purchasing an additional 454,226 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in JPMorgan Chase & Co. by 2.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 20,548,182 shares of the financial services provider’s stock worth $5,040,469,000 after purchasing an additional 548,853 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in JPMorgan Chase & Co. by 5.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 18,441,044 shares of the financial services provider’s stock worth $4,523,588,000 after purchasing an additional 890,553 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in JPMorgan Chase & Co. during the 1st quarter worth approximately $3,972,807,000. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

JPM has been the topic of several analyst reports. Piper Sandler restated an “overweight” rating on shares of JPMorgan Chase & Co. in a report on Tuesday, July 15th. Baird R W downgraded JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a report on Friday, June 27th. Truist Financial boosted their price objective on JPMorgan Chase & Co. from $290.00 to $319.00 and gave the company a “hold” rating in a research report on Tuesday, September 23rd. Robert W. Baird lowered JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $235.00 price target for the company. in a research report on Friday, June 27th. Finally, Royal Bank Of Canada reiterated a “buy” rating and set a $343.00 price target on shares of JPMorgan Chase & Co. in a research report on Tuesday. Fifteen research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, JPMorgan Chase & Co. presently has a consensus rating of “Hold” and an average target price of $318.70.

Insider Activity

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 completion of the sale, the director owned 82,207 shares in the company, valued at approximately $24,492,753.58. This represents a 10.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.47% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

Shares of NYSE JPM opened at $302.11 on Wednesday. The business’s 50-day moving average price is $302.11 and its two-hundred day moving average price is $277.61. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.88. JPMorgan Chase & Co. has a one year low of $202.16 and a one year high of $318.01. The company has a market capitalization of $830.72 billion, a P/E ratio of 15.50, a price-to-earnings-growth ratio of 1.99 and a beta of 1.13.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Tuesday, October 14th. The financial services provider reported $5.07 EPS for the quarter, beating analysts’ consensus estimates of $4.83 by $0.24. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.The firm had revenue of $46.43 billion for the quarter, compared to the consensus estimate of $44.42 billion. During the same quarter in the previous year, the company posted $4.37 earnings per share. The business’s quarterly revenue was up 8.8% compared to the same quarter last year. Analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share 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 paid a dividend of $1.50 per share. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. The ex-dividend date is Monday, October 6th. This represents a $6.00 annualized dividend and a dividend yield of 2.0%. JPMorgan Chase & Co.’s dividend payout ratio is currently 30.79%.

JPMorgan Chase & Co. Company 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.