JPMorgan Chase & Co. $JPM Shares Sold by Coerente Capital Management

Coerente Capital Management cut its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 43,446 shares of the financial services provider’s stock after selling 500 shares during the quarter. JPMorgan Chase & Co. comprises 2.3% of Coerente Capital Management’s investment portfolio, making the stock its 20th biggest position. Coerente Capital Management’s holdings in JPMorgan Chase & Co. were worth $12,595,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Horizon Bancorp Inc. IN raised its stake in JPMorgan Chase & Co. by 51.6% during the second quarter. Horizon Bancorp Inc. IN now owns 3,790 shares of the financial services provider’s stock worth $1,099,000 after purchasing an additional 1,290 shares during the period. Ramirez Asset Management Inc. raised its stake in JPMorgan Chase & Co. by 46.1% during the second quarter. Ramirez Asset Management Inc. now owns 22,415 shares of the financial services provider’s stock worth $6,498,000 after purchasing an additional 7,071 shares during the period. IFP Advisors Inc raised its stake in JPMorgan Chase & Co. by 1.3% during the second quarter. IFP Advisors Inc now owns 46,303 shares of the financial services provider’s stock worth $13,423,000 after purchasing an additional 583 shares during the period. Baldwin Wealth Partners LLC MA raised its stake in JPMorgan Chase & Co. by 0.3% during the second quarter. Baldwin Wealth Partners LLC MA now owns 94,334 shares of the financial services provider’s stock worth $27,348,000 after purchasing an additional 288 shares during the period. Finally, Financial Security Advisor Inc. raised its stake in JPMorgan Chase & Co. by 7.2% during the second quarter. Financial Security Advisor Inc. now owns 2,673 shares of the financial services provider’s stock worth $775,000 after purchasing an additional 180 shares during the period. 71.55% of the stock is currently owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Price Performance

Shares of JPM opened at $297.81 on Friday. JPMorgan Chase & Co. has a fifty-two week low of $202.16 and a fifty-two week high of $318.01. The firm’s 50 day moving average price is $302.82 and its 200 day moving average price is $278.77. The company has a market cap of $818.91 billion, a P/E ratio of 14.75, a PEG ratio of 1.80 and a beta of 1.13. The company has a quick ratio of 0.88, a current ratio of 0.86 and a debt-to-equity ratio of 1.26.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results 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. JPMorgan Chase & Co. had a net margin of 20.90% and a return on equity of 17.18%. The firm had revenue of $46.43 billion for the quarter, compared to the consensus estimate of $44.42 billion. During the same period in the prior year, the firm earned $4.37 EPS. The firm’s revenue for the quarter was up 8.8% on a year-over-year basis. On average, research analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal 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 paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 2.0%. 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. JPMorgan Chase & Co.’s payout ratio is currently 29.72%.

Insiders Place Their Bets

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 shares were 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 of the company’s stock, valued at $24,492,753.58. This represents a 10.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.47% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on JPM shares. Deutsche Bank Aktiengesellschaft lifted their target price on shares of JPMorgan Chase & Co. from $300.00 to $320.00 and gave the stock a “hold” rating in a research note on Tuesday, September 30th. Bank of America lifted their target price on shares of JPMorgan Chase & Co. from $330.00 to $340.00 and gave the stock a “buy” rating in a research note on Wednesday, July 16th. Wells Fargo & Company lifted their target price on shares of JPMorgan Chase & Co. from $325.00 to $345.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 16th. Piper Sandler reaffirmed an “overweight” rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 15th. Finally, Weiss Ratings reaffirmed a “buy (b+)” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, October 8th. Fifteen investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $319.40.

JPMorgan Chase & Co. 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.