Chevy Chase Trust Holdings LLC Decreases Stake in JPMorgan Chase & Co. $JPM

Chevy Chase Trust Holdings LLC reduced its position in JPMorgan Chase & Co. (NYSE:JPM) by 1.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,138,495 shares of the financial services provider’s stock after selling 33,588 shares during the quarter. JPMorgan Chase & Co. comprises about 1.8% of Chevy Chase Trust Holdings LLC’s holdings, making the stock its 9th biggest holding. Chevy Chase Trust Holdings LLC owned 0.08% of JPMorgan Chase & Co. worth $619,971,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Harbor Asset Planning Inc. purchased a new position in JPMorgan Chase & Co. during the second quarter worth about $26,000. MJT & Associates Financial Advisory Group Inc. bought a new stake in shares of JPMorgan Chase & Co. during the 1st quarter valued at about $28,000. University of Illinois Foundation purchased a new position in shares of JPMorgan Chase & Co. during the first quarter worth about $30,000. Ryan Investment Management Inc. purchased a new position in shares of JPMorgan Chase & Co. during the second quarter worth about $37,000. Finally, Christopher J. Hasenberg Inc increased its position in shares of JPMorgan Chase & Co. by 212.0% in the second quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 106 shares during the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Price Performance

Shares of JPMorgan Chase & Co. stock opened at $304.05 on Tuesday. The firm has a market cap of $836.06 billion, a PE ratio of 15.06, a price-to-earnings-growth ratio of 1.81 and a beta of 1.13. JPMorgan Chase & Co. has a 12-month low of $202.16 and a 12-month high of $318.01. The company has a quick ratio of 0.88, a current ratio of 0.86 and a debt-to-equity ratio of 1.26. The company’s fifty day simple moving average is $303.68 and its two-hundred day simple moving average is $282.38.

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 net margin of 20.90% and a return on equity of 17.18%. The firm had revenue of $46.43 billion during the quarter, compared to the consensus estimate of $44.42 billion. During the same period in the prior year, the firm posted $4.37 earnings per share. The company’s quarterly revenue was up 8.8% compared to the same quarter last year. As a group, equities analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, October 6th will be paid a $1.50 dividend. 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. This represents a $6.00 dividend on an annualized basis and a yield of 2.0%. JPMorgan Chase & Co.’s payout ratio is currently 29.72%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on JPM shares. TD Cowen lifted their target price on shares of JPMorgan Chase & Co. from $350.00 to $370.00 and gave the company a “buy” rating in a research report on Friday, October 3rd. Hsbc Global Res downgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “moderate sell” rating in a report on Tuesday, July 8th. Piper Sandler reiterated an “overweight” rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 15th. Deutsche Bank Aktiengesellschaft raised their price target on 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, Barclays increased their price objective on JPMorgan Chase & Co. from $330.00 to $342.00 and gave the company an “overweight” rating in a research report on Wednesday, October 15th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $322.27.

Insider Activity at JPMorgan Chase & Co.

In related 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 transaction of $2,830,430.00. Following the sale, 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 document filed with the SEC, which is available through this hyperlink. 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.