Sitrin Capital Management LLC Has $7.85 Million Stake in JPMorgan Chase & Co. $JPM

Sitrin Capital Management LLC lessened its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 8.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 27,085 shares of the financial services provider’s stock after selling 2,637 shares during the quarter. JPMorgan Chase & Co. comprises 4.0% of Sitrin Capital Management LLC’s investment portfolio, making the stock its 5th largest position. Sitrin Capital Management LLC’s holdings in JPMorgan Chase & Co. were worth $7,852,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Florida Financial Advisors LLC lifted its position in JPMorgan Chase & Co. by 62.5% in the 1st quarter. Florida Financial Advisors LLC now owns 9,863 shares of the financial services provider’s stock worth $2,416,000 after buying an additional 3,792 shares during the last quarter. Crown Wealth Group LLC lifted its position in JPMorgan Chase & Co. by 5.4% in the 1st quarter. Crown Wealth Group LLC now owns 4,320 shares of the financial services provider’s stock worth $1,060,000 after buying an additional 222 shares during the last quarter. Mosaic Financial Group LLC lifted its position in JPMorgan Chase & Co. by 0.8% in the 1st quarter. Mosaic Financial Group LLC now owns 9,296 shares of the financial services provider’s stock worth $2,280,000 after buying an additional 78 shares during the last quarter. Morse Asset Management Inc lifted its position in JPMorgan Chase & Co. by 19.5% in the 1st quarter. Morse Asset Management Inc now owns 2,569 shares of the financial services provider’s stock worth $630,000 after buying an additional 420 shares during the last quarter. Finally, Hidden Cove Wealth Management LLC lifted its position in JPMorgan Chase & Co. by 4.2% in the 1st quarter. Hidden Cove Wealth Management LLC now owns 2,758 shares of the financial services provider’s stock worth $677,000 after buying an additional 112 shares during the last quarter. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock opened at $298.67 on Friday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.86. JPMorgan Chase & Co. has a fifty-two week low of $202.16 and a fifty-two week high of $318.01. The company has a market capitalization of $821.27 billion, a P/E ratio of 14.79, a PEG ratio of 1.96 and a beta of 1.13. The stock has a 50 day moving average price of $302.63 and a two-hundred day moving average price of $278.17.

JPMorgan Chase & Co. (NYSE:JPM) last announced 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. The company had revenue of $46.43 billion during the quarter, compared to the consensus estimate of $44.42 billion. JPMorgan Chase & Co. had a return on equity of 17.18% and a net margin of 20.90%.The firm’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.37 earnings per share. Analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, October 6th will be issued 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 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Monday, October 6th. JPMorgan Chase & Co.’s dividend payout ratio is currently 29.72%.

Analysts Set New Price Targets

A number of research firms recently weighed in on JPM. Piper Sandler restated an “overweight” rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 15th. Royal Bank Of Canada restated a “buy” rating and issued a $343.00 target price on shares of JPMorgan Chase & Co. in a research report on Tuesday. Deutsche Bank Aktiengesellschaft boosted their target price on JPMorgan Chase & Co. from $300.00 to $320.00 and gave the stock a “hold” rating in a research report on Tuesday, September 30th. Hsbc Global Res downgraded JPMorgan Chase & Co. from a “hold” rating to a “moderate sell” rating in a research report on Tuesday, July 8th. Finally, Bank of America boosted their price objective on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the company a “buy” rating in a research report on Wednesday, July 16th. Fifteen analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $319.40.

Insider Activity at JPMorgan Chase & Co.

In related news, Director Linda Bammann sold 9,500 shares of the company’s stock in a transaction that occurred on 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 transaction, the director 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.47% of the stock is currently owned by corporate insiders.

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.