Baxter Bros Inc. Sells 1,105 Shares of JPMorgan Chase & Co. $JPM

Baxter Bros Inc. lessened its stake in JPMorgan Chase & Co. (NYSE:JPM) by 1.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 76,265 shares of the financial services provider’s stock after selling 1,105 shares during the period. JPMorgan Chase & Co. comprises 2.7% of Baxter Bros Inc.’s portfolio, making the stock its 11th biggest holding. Baxter Bros Inc.’s holdings in JPMorgan Chase & Co. were worth $22,110,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Armstrong Fleming & Moore Inc lifted its stake in shares of JPMorgan Chase & Co. by 105.5% in the second quarter. Armstrong Fleming & Moore Inc now owns 10,417 shares of the financial services provider’s stock valued at $3,020,000 after buying an additional 5,348 shares during the period. Mullooly Asset Management Inc. lifted its stake in shares of JPMorgan Chase & Co. by 1.2% in the second quarter. Mullooly Asset Management Inc. now owns 3,321 shares of the financial services provider’s stock valued at $963,000 after buying an additional 38 shares during the period. Tectonic Advisors LLC lifted its stake in shares of JPMorgan Chase & Co. by 1.7% in the second quarter. Tectonic Advisors LLC now owns 5,387 shares of the financial services provider’s stock valued at $1,562,000 after buying an additional 88 shares during the period. Fulton Breakefield Broenniman LLC lifted its stake in shares of JPMorgan Chase & Co. by 3.3% in the second quarter. Fulton Breakefield Broenniman LLC now owns 55,388 shares of the financial services provider’s stock valued at $16,057,000 after buying an additional 1,752 shares during the period. Finally, InTrack Investment Management Inc lifted its stake in shares of JPMorgan Chase & Co. by 15.0% in the second quarter. InTrack Investment Management Inc now owns 7,608 shares of the financial services provider’s stock valued at $2,206,000 after buying an additional 993 shares during the period. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

NYSE JPM opened at $297.81 on Friday. The firm has a market cap of $818.91 billion, a price-to-earnings ratio of 14.75, a PEG ratio of 1.81 and a beta of 1.13. The company has a 50 day moving average of $302.82 and a 200-day moving average of $278.54. The company has a current ratio of 0.86, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. JPMorgan Chase & Co. has a 1-year low of $202.16 and a 1-year high of $318.01.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share for the quarter, topping the consensus estimate of $4.83 by $0.24. The company had revenue of $46.43 billion during the quarter, compared to analyst estimates of $44.42 billion. JPMorgan Chase & Co. had a net margin of 20.90% and a return on equity of 17.18%. The company’s revenue was up 8.8% on a year-over-year basis. During the same quarter last year, the business posted $4.37 earnings per share. On average, equities analysts forecast 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. Investors of record on Monday, October 6th will be issued a $1.50 dividend. 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 2.0%. The ex-dividend date of this dividend is Monday, October 6th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 29.72%.

Wall Street Analyst Weigh In

JPM has been the subject of several research reports. DZ Bank reiterated a “neutral” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday. Piper Sandler reissued an “overweight” rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 15th. HSBC reissued a “reduce” rating and issued a $259.00 price target on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 8th. Robert W. Baird lowered shares of 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, Truist Financial increased their price target 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. Fifteen analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $319.40.

Insider Buying and Selling at JPMorgan Chase & Co.

In related 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 value of $2,830,430.00. Following the completion of the sale, the director owned 82,207 shares of the company’s stock, valued at $24,492,753.58. This trade represents a 10.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 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.