Second Half Financial Partners LLC Cuts Holdings in JPMorgan Chase & Co. $JPM

Second Half Financial Partners LLC cut its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 7.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,265 shares of the financial services provider’s stock after selling 338 shares during the quarter. JPMorgan Chase & Co. makes up about 0.6% of Second Half Financial Partners LLC’s holdings, making the stock its 25th biggest position. Second Half Financial Partners LLC’s holdings in JPMorgan Chase & Co. were worth $1,236,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in JPM. Kingstone Capital Partners Texas LLC boosted its stake in JPMorgan Chase & Co. by 609,867.5% in the second 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 acquiring an additional 72,885,260 shares during the last quarter. Nuveen LLC purchased a new position in JPMorgan Chase & Co. in the first quarter valued at about $3,972,807,000. National Bank of Canada FI boosted its stake in JPMorgan Chase & Co. by 44.4% in the first quarter. National Bank of Canada FI now owns 4,518,740 shares of the financial services provider’s stock valued at $1,108,415,000 after acquiring an additional 1,388,992 shares during the last quarter. Strs Ohio purchased a new position in JPMorgan Chase & Co. in the first quarter valued at about $279,389,000. Finally, Alecta Tjanstepension Omsesidigt purchased a new position in JPMorgan Chase & Co. in the first quarter valued at about $278,493,000. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at JPMorgan Chase & Co.

In other news, Director Linda Bammann sold 9,500 shares of the stock in a transaction 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 transaction, the director 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 available at this link. 0.47% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Piper Sandler reissued an “overweight” rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 15th. DZ Bank reissued a “neutral” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, October 15th. Zacks Research lowered shares of JPMorgan Chase & Co. from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 8th. Hsbc Global Res lowered shares of JPMorgan Chase & Co. from a “hold” rating to a “moderate sell” rating in a research report on Tuesday, July 8th. Finally, Citigroup boosted their price target on shares of JPMorgan Chase & Co. from $275.00 to $325.00 and gave the company a “neutral” rating in a research report on Wednesday, September 24th. 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’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $322.86.

JPMorgan Chase & Co. Price Performance

Shares of NYSE:JPM opened at $297.09 on Wednesday. The company’s fifty day moving average price is $303.16 and its 200-day moving average price is $279.88. The firm has a market capitalization of $816.92 billion, a price-to-earnings ratio of 14.71, a PEG ratio of 1.83 and a beta of 1.13. JPMorgan Chase & Co. has a one year low of $202.16 and a one year high of $318.01. 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. (NYSE:JPM) last issued its quarterly earnings results 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 for 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 business’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.37 EPS. On average, equities research 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 issued a $1.50 dividend. 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. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. JPMorgan Chase & Co.’s payout ratio is currently 29.72%.

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.