GLOBALT Investments LLC GA Sells 3,417 Shares of JPMorgan Chase & Co. $JPM

GLOBALT Investments LLC GA trimmed its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 4.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,113 shares of the financial services provider’s stock after selling 3,417 shares during the period. JPMorgan Chase & Co. comprises about 0.8% of GLOBALT Investments LLC GA’s portfolio, making the stock its 24th largest position. GLOBALT Investments LLC GA’s holdings in JPMorgan Chase & Co. were worth $20,616,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Florida Financial Advisors LLC lifted its stake in shares of JPMorgan Chase & Co. by 62.5% during the 1st quarter. Florida Financial Advisors LLC now owns 9,863 shares of the financial services provider’s stock worth $2,416,000 after purchasing an additional 3,792 shares during the last quarter. Mosaic Financial Group LLC lifted its stake in shares of JPMorgan Chase & Co. by 0.8% during the 1st quarter. Mosaic Financial Group LLC now owns 9,296 shares of the financial services provider’s stock worth $2,280,000 after purchasing an additional 78 shares during the last quarter. Morse Asset Management Inc boosted its holdings in shares of JPMorgan Chase & Co. by 19.5% in the 1st quarter. Morse Asset Management Inc now owns 2,569 shares of the financial services provider’s stock valued at $630,000 after buying an additional 420 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in shares of JPMorgan Chase & Co. by 11.1% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 15,648 shares of the financial services provider’s stock valued at $3,838,000 after buying an additional 1,561 shares in the last quarter. Finally, Aaron Wealth Advisors LLC boosted its holdings in shares of JPMorgan Chase & Co. by 6.4% in the 1st quarter. Aaron Wealth Advisors LLC now owns 20,191 shares of the financial services provider’s stock valued at $4,953,000 after buying an additional 1,218 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors.

Insider Transactions at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. 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 transaction of $2,830,430.00. Following the completion of the transaction, the director directly owned 82,207 shares of the company’s stock, valued at approximately $24,492,753.58. This trade represents a 10.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.47% of the company’s stock.

JPMorgan Chase & Co. Stock Down 0.6%

NYSE:JPM opened at $309.19 on Tuesday. The company has a market cap of $850.18 billion, a PE ratio of 15.31, a P/E/G ratio of 1.84 and a beta of 1.13. JPMorgan Chase & Co. has a twelve month low of $202.16 and a twelve month 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’s 50 day moving average is $305.20 and its two-hundred day moving average is $285.41.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share for the quarter, topping the consensus estimate of $4.83 by $0.24. The company had revenue of $46.43 billion for 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%. JPMorgan Chase & Co.’s revenue was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.37 EPS. Analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Monday, October 6th were given 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 boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. JPMorgan Chase & Co.’s payout ratio is 29.72%.

Wall Street Analysts Forecast Growth

JPM has been the topic of a number of recent analyst reports. Truist Financial raised 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. Keefe, Bruyette & Woods raised their price target on shares of JPMorgan Chase & Co. from $330.00 to $354.00 and gave the company an “outperform” rating in a report on Friday, October 10th. Weiss Ratings upgraded shares of JPMorgan Chase & Co. from a “buy (b+)” rating to a “buy (a-)” rating in a report on Saturday, October 25th. Cowen restated a “buy” rating on shares of JPMorgan Chase & Co. in a report on Wednesday, July 16th. Finally, Wells Fargo & Company raised their price target on shares of JPMorgan Chase & Co. from $345.00 to $350.00 and gave the company an “overweight” rating in a report on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, JPMorgan Chase & Co. has a consensus rating of “Moderate Buy” and an average target price of $322.50.

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.