Bridges Investment Management Inc. Sells 1,158 Shares of JPMorgan Chase & Co. $JPM

Bridges Investment Management Inc. decreased its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 530,730 shares of the financial services provider’s stock after selling 1,158 shares during the quarter. JPMorgan Chase & Co. makes up 2.1% of Bridges Investment Management Inc.’s holdings, making the stock its 13th largest holding. Bridges Investment Management Inc.’s holdings in JPMorgan Chase & Co. were worth $153,864,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in JPM. Kingstone Capital Partners Texas LLC raised 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 buying an additional 72,885,260 shares during the last quarter. Nuveen LLC purchased a new stake in JPMorgan Chase & Co. in the first quarter valued at about $3,972,807,000. Montrusco Bolton Investments Inc. purchased a new stake in JPMorgan Chase & Co. in the second quarter valued at about $485,802,000. National Bank of Canada FI raised 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 buying an additional 1,388,992 shares during the last quarter. Finally, Strs Ohio purchased a new stake in JPMorgan Chase & Co. in the first quarter valued at about $279,389,000. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Up 1.9%

Shares of JPM opened at $300.27 on Friday. 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 12 month low of $202.16 and a 12 month high of $318.01. The stock’s 50 day moving average is $303.43 and its two-hundred day moving average is $281.56. The firm has a market cap of $825.66 billion, a P/E ratio of 14.87, a PEG ratio of 1.81 and a beta of 1.13.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $5.07 EPS for the quarter, beating the consensus estimate of $4.83 by $0.24. JPMorgan Chase & Co. had a return on equity of 17.18% and a net margin of 20.90%.The company had revenue of $46.43 billion for the quarter, compared to analyst estimates of $44.42 billion. During the same period last year, the company earned $4.37 earnings per share. JPMorgan Chase & Co.’s quarterly revenue was up 8.8% compared to the same quarter last year. Analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, October 6th will be paid a $1.50 dividend. 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 of this dividend is Monday, October 6th. JPMorgan Chase & Co.’s dividend payout ratio is presently 29.72%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on JPM shares. Deutsche Bank Aktiengesellschaft increased their price target on JPMorgan Chase & Co. from $300.00 to $320.00 and gave the company a “hold” rating in a research note on Tuesday, September 30th. UBS Group raised their price objective on JPMorgan Chase & Co. from $339.00 to $350.00 and gave the stock a “buy” rating in a research note on Tuesday, October 7th. KGI Securities raised their price objective on JPMorgan Chase & Co. from $300.00 to $315.00 and gave the stock a “hold” rating in a research note on Wednesday, October 15th. Truist Financial raised their price objective on JPMorgan Chase & Co. from $290.00 to $319.00 and gave the stock a “hold” rating in a research note on Tuesday, September 23rd. Finally, Phillip Securities cut JPMorgan Chase & Co. from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, July 16th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $322.27.

Insider Activity

In other news, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction that occurred 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 of the company’s stock, valued at $24,492,753.58. The trade was a 10.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.47% of the stock is 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.