Cookson Peirce & Co. Inc. Sells 485 Shares of JPMorgan Chase & Co. $JPM

Cookson Peirce & Co. Inc. cut its stake in JPMorgan Chase & Co. (NYSE:JPM) by 4.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,180 shares of the financial services provider’s stock after selling 485 shares during the period. Cookson Peirce & Co. Inc.’s holdings in JPMorgan Chase & Co. were worth $3,241,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in JPM. Brookstone Capital Management raised its holdings in JPMorgan Chase & Co. by 6.0% during the 2nd quarter. Brookstone Capital Management now owns 104,044 shares of the financial services provider’s stock worth $30,163,000 after purchasing an additional 5,850 shares during the last quarter. Phillips Financial Management LLC increased its position in shares of JPMorgan Chase & Co. by 79.1% during the second quarter. Phillips Financial Management LLC now owns 28,921 shares of the financial services provider’s stock worth $8,350,000 after buying an additional 12,776 shares during the period. Jacobsen Capital Management raised its stake in JPMorgan Chase & Co. by 7.4% during the second quarter. Jacobsen Capital Management now owns 5,312 shares of the financial services provider’s stock worth $1,540,000 after buying an additional 365 shares during the last quarter. FNY Investment Advisers LLC acquired a new position in JPMorgan Chase & Co. in the second quarter valued at $1,956,000. Finally, Retirement Planning Group LLC boosted its position in JPMorgan Chase & Co. by 8.6% during the second quarter. Retirement Planning Group LLC now owns 7,663 shares of the financial services provider’s stock valued at $2,222,000 after acquiring an additional 606 shares during the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Up 0.7%

Shares of NYSE JPM opened at $311.47 on Friday. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.86 and a quick ratio of 0.88. The company has a 50-day moving average price of $304.92 and a 200-day moving average price of $284.12. The stock has a market capitalization of $856.48 billion, a P/E ratio of 15.43, a P/E/G ratio of 1.84 and a beta of 1.13. JPMorgan Chase & Co. has a 1 year low of $202.16 and a 1 year high of $318.01.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share for the quarter, beating the consensus estimate of $4.83 by $0.24. The business had revenue of $46.43 billion for the quarter, compared to analysts’ expectations 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 revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter last year, the firm earned $4.37 EPS. On average, equities research analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Monday, October 6th were issued a dividend of $1.50 per share. The ex-dividend date of this dividend was Monday, October 6th. This represents a $6.00 dividend on an annualized basis and a yield of 1.9%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. JPMorgan Chase & Co.’s payout ratio is presently 29.72%.

Wall Street Analyst Weigh In

JPM has been the subject of several research analyst reports. Truist Financial lifted their price objective on JPMorgan Chase & Co. from $290.00 to $319.00 and gave the stock a “hold” rating in a research report on Tuesday, September 23rd. Barclays raised their target price on JPMorgan Chase & Co. from $330.00 to $342.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 15th. HSBC reissued a “reduce” rating and issued a $259.00 price target on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 8th. TD Cowen raised their price objective on shares of JPMorgan Chase & Co. from $350.00 to $370.00 and gave the stock a “buy” rating in a research report on Friday, October 3rd. Finally, Dbs Bank upgraded shares of JPMorgan Chase & Co. to a “hold” rating in a research note on Tuesday, October 21st. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, JPMorgan Chase & Co. has an average 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 the firm’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.47% of the stock is currently owned by corporate 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.