JPMorgan Chase & Co. $JPM Shares Sold by Palmer Knight Co

Palmer Knight Co cut its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 20.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 26,489 shares of the financial services provider’s stock after selling 6,719 shares during the quarter. JPMorgan Chase & Co. comprises about 3.3% of Palmer Knight Co’s investment portfolio, making the stock its 16th largest position. Palmer Knight Co’s holdings in JPMorgan Chase & Co. were worth $7,679,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Brighton Jones LLC raised its holdings in JPMorgan Chase & Co. by 11.0% in the 4th quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider’s stock valued at $11,682,000 after acquiring an additional 4,841 shares during the last quarter. Ironwood Wealth Management LLC. boosted its stake in shares of JPMorgan Chase & Co. by 0.7% in the first quarter. Ironwood Wealth Management LLC. now owns 15,400 shares of the financial services provider’s stock valued at $3,778,000 after purchasing an additional 107 shares during the period. Acorns Advisers LLC grew its stake in JPMorgan Chase & Co. by 6.9% during the 1st quarter. Acorns Advisers LLC now owns 1,547 shares of the financial services provider’s stock valued at $379,000 after purchasing an additional 100 shares in the last quarter. Omnia Family Wealth LLC increased its position in shares of JPMorgan Chase & Co. by 13.6% in the 1st quarter. Omnia Family Wealth LLC now owns 6,628 shares of the financial services provider’s stock worth $1,626,000 after purchasing an additional 794 shares during the last quarter. Finally, Phillips Wealth Planners LLC lifted its stake in JPMorgan Chase & Co. by 2.1% during the first quarter. Phillips Wealth Planners LLC now owns 7,285 shares of the financial services provider’s stock worth $1,721,000 after purchasing an additional 147 shares during the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Up 0.4%

NYSE JPM opened at $305.29 on Wednesday. The company has a 50 day moving average of $303.98 and a 200-day moving average of $282.92. JPMorgan Chase & Co. has a 1-year low of $202.16 and a 1-year high of $318.01. 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 $839.48 billion, a price-to-earnings ratio of 15.12, a PEG ratio of 1.83 and a beta of 1.13.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results 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. JPMorgan Chase & Co. had a return on equity of 17.18% and a net margin of 20.90%.The business had revenue of $46.43 billion during the quarter, compared to analysts’ expectations of $44.42 billion. During the same quarter in the prior year, the firm earned $4.37 EPS. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. On average, equities research analysts expect 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 disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, October 6th will be paid a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Monday, October 6th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. JPMorgan Chase & Co.’s dividend payout ratio is presently 29.72%.

Wall Street Analysts Forecast Growth

JPM has been the subject of a number of recent analyst reports. TD Cowen increased their price objective on JPMorgan Chase & Co. from $350.00 to $370.00 and gave the stock a “buy” rating in a report on Friday, October 3rd. Wells Fargo & Company raised their price objective on JPMorgan Chase & Co. from $325.00 to $345.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 16th. Zacks Research raised shares of JPMorgan Chase & Co. from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 20th. Morgan Stanley boosted their price objective on shares of JPMorgan Chase & Co. from $336.00 to $338.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 15th. Finally, Evercore ISI upped their price objective on shares of JPMorgan Chase & Co. from $309.00 to $330.00 and gave the company an “outperform” rating in a research report on Tuesday, September 30th. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $322.27.

Insider Transactions at JPMorgan Chase & Co.

In related news, Director Linda Bammann sold 9,500 shares of the firm’s stock in a transaction that occurred 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 sale, the director directly owned 82,207 shares of the company’s stock, valued at $24,492,753.58. This trade represents a 10.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 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.