Hartline Investment Corp Cuts Position in JPMorgan Chase & Co. $JPM

Hartline Investment Corp lessened its position in JPMorgan Chase & Co. (NYSE:JPM) by 4.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,837 shares of the financial services provider’s stock after selling 605 shares during the quarter. Hartline Investment Corp’s holdings in JPMorgan Chase & Co. were worth $4,011,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Nicholson Wealth Management Group LLC boosted its holdings in shares of JPMorgan Chase & Co. by 1.9% in the 2nd quarter. Nicholson Wealth Management Group LLC now owns 2,522 shares of the financial services provider’s stock worth $731,000 after purchasing an additional 46 shares in the last quarter. Carmel Capital Partners LLC boosted its stake in JPMorgan Chase & Co. by 18.2% in the second quarter. Carmel Capital Partners LLC now owns 4,210 shares of the financial services provider’s stock worth $1,221,000 after buying an additional 648 shares in the last quarter. Arista Wealth Management LLC grew its position in JPMorgan Chase & Co. by 3,241.4% during the second quarter. Arista Wealth Management LLC now owns 39,261 shares of the financial services provider’s stock valued at $11,382,000 after acquiring an additional 38,086 shares during the last quarter. Stratos Wealth Partners LTD. lifted its holdings in shares of JPMorgan Chase & Co. by 2.1% in the 2nd quarter. Stratos Wealth Partners LTD. now owns 204,079 shares of the financial services provider’s stock worth $59,165,000 after acquiring an additional 4,211 shares during the last quarter. Finally, Private Trust Co. NA lifted its holdings in shares of JPMorgan Chase & Co. by 3.1% in the 2nd quarter. Private Trust Co. NA now owns 42,171 shares of the financial services provider’s stock worth $12,226,000 after acquiring an additional 1,255 shares during the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Price Performance

JPM opened at $304.05 on Tuesday. The company has a current ratio of 0.86, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. The company has a market cap of $836.06 billion, a price-to-earnings ratio of 15.06, a price-to-earnings-growth ratio of 1.81 and a beta of 1.13. The stock has a fifty day simple moving average of $303.68 and a two-hundred day simple moving average of $282.38. 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 issued its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, topping 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 company had revenue of $46.43 billion during the quarter, compared to analyst estimates of $44.42 billion. During the same period last year, the business earned $4.37 EPS. JPMorgan Chase & Co.’s quarterly revenue was up 8.8% compared to the same quarter last year. Research analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, October 6th will be issued a dividend of $1.50 per share. 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 annualized dividend and a dividend yield of 2.0%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 29.72%.

Insider Activity at JPMorgan Chase & Co.

In related news, Director Linda Bammann sold 9,500 shares of the company’s 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 owned 82,207 shares in the company, valued at $24,492,753.58. This represents a 10.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.47% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

JPM has been the subject of several recent research reports. Zacks Research raised shares of JPMorgan Chase & Co. from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 20th. The Goldman Sachs Group restated a “buy” rating and set a $366.00 price target on shares of JPMorgan Chase & Co. in a research report on Tuesday, October 14th. Bank of America boosted their price objective on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the company a “buy” rating in a research report on Wednesday, July 16th. Barclays raised their target price on shares of JPMorgan Chase & Co. from $330.00 to $342.00 and gave the stock an “overweight” rating in a report on Wednesday, October 15th. Finally, Truist Financial upped their price target on shares of JPMorgan Chase & Co. from $290.00 to $319.00 and gave the company a “hold” rating in a report on Tuesday, September 23rd. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $322.27.

JPMorgan Chase & Co. 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.