Cushing Capital Partners LLC Sells 303 Shares of JPMorgan Chase & Co. $JPM

Cushing Capital Partners LLC lessened its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 12.6% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,093 shares of the financial services provider’s stock after selling 303 shares during the quarter. Cushing Capital Partners LLC’s holdings in JPMorgan Chase & Co. were worth $607,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Pettinga Financial Advisors LLC acquired a new position in shares of JPMorgan Chase & Co. during the second quarter worth $204,000. Davidson Investment Advisors increased its stake in JPMorgan Chase & Co. by 2.2% in the second quarter. Davidson Investment Advisors now owns 4,093 shares of the financial services provider’s stock valued at $1,187,000 after purchasing an additional 87 shares in the last quarter. Uptick Partners LLC increased its stake in JPMorgan Chase & Co. by 60.9% in the second quarter. Uptick Partners LLC now owns 7,022 shares of the financial services provider’s stock valued at $2,036,000 after purchasing an additional 2,658 shares in the last quarter. Duncker Streett & Co. Inc. increased its stake in JPMorgan Chase & Co. by 1.7% in the second quarter. Duncker Streett & Co. Inc. now owns 45,728 shares of the financial services provider’s stock valued at $13,257,000 after purchasing an additional 744 shares in the last quarter. Finally, IFG Advisors LLC increased its stake in JPMorgan Chase & Co. by 0.6% in the second quarter. IFG Advisors LLC now owns 8,525 shares of the financial services provider’s stock valued at $2,472,000 after purchasing an additional 49 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Trading Up 1.9%

Shares of JPM stock opened at $300.27 on Friday. JPMorgan Chase & Co. has a 52-week low of $202.16 and a 52-week high of $318.01. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.86. The company has a 50-day simple moving average of $303.43 and a two-hundred day simple moving average of $281.56. The company has a market capitalization of $825.66 billion, a price-to-earnings 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.83 by $0.24. The business 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 quarterly revenue was up 8.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.37 EPS. Research analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal 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 is presently 29.72%.

Wall Street Analyst Weigh In

Several research firms have weighed in on JPM. Truist Financial lifted their price target on shares of JPMorgan Chase & Co. from $290.00 to $319.00 and gave the company a “hold” rating in a research note on Tuesday, September 23rd. Deutsche Bank Aktiengesellschaft lifted their price target on shares of JPMorgan Chase & Co. from $300.00 to $320.00 and gave the company a “hold” rating in a research note on Tuesday, September 30th. Loop Capital set a $310.00 target price on shares of JPMorgan Chase & Co. in a research report on Thursday. Wells Fargo & Company boosted 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 report on Tuesday, September 16th. Finally, Daiwa Capital Markets boosted their target price on shares of JPMorgan Chase & Co. from $330.00 to $332.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given 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 stock has a consensus rating of “Moderate Buy” and a consensus target price of $322.27.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the business’s stock in a transaction dated 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 directly owned 82,207 shares in the company, valued at $24,492,753.58. The trade was a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.47% of the stock is currently owned by 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.