Kornitzer Capital Management Inc. KS Sells 297 Shares of JPMorgan Chase & Co. $JPM

Kornitzer Capital Management Inc. KS lessened its stake in JPMorgan Chase & Co. (NYSE:JPM) by 0.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 103,846 shares of the financial services provider’s stock after selling 297 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in JPMorgan Chase & Co. were worth $30,106,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. JFS Wealth Advisors LLC raised its stake in JPMorgan Chase & Co. by 0.4% during the 2nd quarter. JFS Wealth Advisors LLC now owns 7,897 shares of the financial services provider’s stock worth $2,290,000 after buying an additional 35 shares during the period. Cottonwood Capital Advisors LLC raised its stake in JPMorgan Chase & Co. by 0.9% during the 2nd quarter. Cottonwood Capital Advisors LLC now owns 3,837 shares of the financial services provider’s stock worth $1,112,000 after buying an additional 35 shares during the period. LCM Capital Management Inc raised its stake in JPMorgan Chase & Co. by 0.9% during the 2nd quarter. LCM Capital Management Inc now owns 3,847 shares of the financial services provider’s stock worth $1,115,000 after buying an additional 36 shares during the period. jvl associates llc raised its stake in JPMorgan Chase & Co. by 1.7% during the 2nd quarter. jvl associates llc now owns 2,094 shares of the financial services provider’s stock worth $607,000 after buying an additional 36 shares during the period. Finally, Aspen Capital Management LLC raised its stake in JPMorgan Chase & Co. by 0.8% during the 2nd quarter. Aspen Capital Management LLC now owns 4,316 shares of the financial services provider’s stock worth $1,251,000 after buying an additional 36 shares during the period. Institutional investors own 71.55% of the company’s stock.

Analyst Upgrades and Downgrades

JPM has been the topic of several research analyst reports. Wells Fargo & Company raised their price objective on JPMorgan Chase & Co. from $345.00 to $350.00 and gave the stock an “overweight” rating in a research note on Monday. KGI Securities raised their price objective on JPMorgan Chase & Co. from $300.00 to $315.00 and gave the stock a “hold” rating in a research note on Wednesday, October 15th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $343.00 price objective on shares of JPMorgan Chase & Co. in a research note on Tuesday, October 14th. Truist Financial raised their price objective on JPMorgan Chase & Co. from $290.00 to $319.00 and gave the stock a “hold” rating in a research note on Tuesday, September 23rd. Finally, Barclays raised their price objective 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. 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 assigned a Sell rating to the company. According to data from MarketBeat, JPMorgan Chase & Co. currently has an average rating of “Moderate Buy” and a consensus price target of $326.38.

JPMorgan Chase & Co. Stock Up 0.0%

NYSE:JPM opened at $309.36 on Wednesday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.86. The company has a market cap of $850.66 billion, a PE ratio of 15.32, a PEG ratio of 1.84 and a beta of 1.13. JPMorgan Chase & Co. has a 52-week low of $202.16 and a 52-week high of $318.01. The stock has a 50-day simple moving average of $305.42 and a 200 day simple moving average of $285.96.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data 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. The business had revenue of $46.43 billion during the quarter, compared to the consensus estimate of $44.42 billion. JPMorgan Chase & Co. had a return on equity of 17.18% and a net margin of 20.90%.JPMorgan Chase & Co.’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period last year, the company earned $4.37 earnings per share. On average, sell-side analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Monday, October 6th were issued a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was 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 29.72%.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, Director Linda Bammann sold 9,500 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the director owned 82,207 shares in the company, valued at $24,492,753.58. This trade represents a 10.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.47% of the stock is 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.