Investment Advisory Group LLC Trims Stock Position in JPMorgan Chase & Co. $JPM

Investment Advisory Group LLC lessened its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 12.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,112 shares of the financial services provider’s stock after selling 569 shares during the quarter. Investment Advisory Group LLC’s holdings in JPMorgan Chase & Co. were worth $1,192,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. MJT & Associates Financial Advisory Group Inc. purchased a new stake in JPMorgan Chase & Co. in the 1st quarter valued at $28,000. University of Illinois Foundation acquired a new position in JPMorgan Chase & Co. in the 1st quarter valued at $30,000. Ryan Investment Management Inc. purchased a new position in JPMorgan Chase & Co. during the 2nd quarter worth $37,000. Christopher J. Hasenberg Inc raised its position in JPMorgan Chase & Co. by 212.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider’s stock worth $45,000 after buying an additional 106 shares during the last quarter. Finally, Goodman Advisory Group LLC purchased a new position in JPMorgan Chase & Co. during the 1st quarter worth $76,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Insider Transactions at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $297.94, for a total value of $2,830,430.00. Following the sale, the director directly owned 82,207 shares in the company, 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 SEC, which can be accessed through this link. Insiders own 0.47% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

JPMorgan Chase & Co. stock opened at $297.09 on Wednesday. The company has a market cap of $816.92 billion, a PE ratio of 14.71, a P/E/G ratio of 1.83 and a beta of 1.13. The company has a fifty day moving average price of $303.16 and a two-hundred day moving average price of $279.88. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.86 and a quick ratio of 0.88. JPMorgan Chase & Co. has a 12 month low of $202.16 and a 12 month high of $318.01.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $5.07 EPS for the quarter, topping analysts’ consensus estimates of $4.83 by $0.24. The firm had revenue of $46.43 billion during the quarter, compared to the consensus estimate of $44.42 billion. JPMorgan Chase & Co. had a net margin of 20.90% and a return on equity of 17.18%. The firm’s revenue was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.37 earnings per share. Research analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, October 6th will be paid a $1.50 dividend. The ex-dividend date is Monday, October 6th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. This represents a $6.00 dividend on an annualized basis and a yield of 2.0%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 29.72%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on JPM shares. Morgan Stanley upped their price target on shares of JPMorgan Chase & Co. from $336.00 to $338.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 15th. Robert W. Baird lowered shares of JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $235.00 price target on the stock. in a report on Friday, June 27th. Cowen reaffirmed a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, July 16th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of JPMorgan Chase & Co. from $300.00 to $320.00 and gave the company a “hold” rating in a research report on Tuesday, September 30th. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 15th. Fifteen research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $322.86.

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.