Whipplewood Advisors LLC Cuts Stock Position in JPMorgan Chase & Co. $JPM

Whipplewood Advisors LLC lessened its stake in JPMorgan Chase & Co. (NYSE:JPM) by 85.8% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,357 shares of the financial services provider’s stock after selling 8,182 shares during the quarter. Whipplewood Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $393,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in JPM. Kingstone Capital Partners Texas LLC increased its holdings in JPMorgan Chase & Co. by 609,867.5% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 72,897,211 shares of the financial services provider’s stock worth $21,133,630,000 after acquiring an additional 72,885,260 shares in the last quarter. Nuveen LLC purchased a new stake in shares of JPMorgan Chase & Co. during the first quarter worth $3,972,807,000. Montrusco Bolton Investments Inc. purchased a new stake in shares of JPMorgan Chase & Co. during the second quarter worth $485,802,000. International Assets Investment Management LLC purchased a new position in shares of JPMorgan Chase & Co. in the second quarter worth about $458,104,000. Finally, National Bank of Canada FI lifted its stake in shares of JPMorgan Chase & Co. by 44.4% in the first quarter. National Bank of Canada FI now owns 4,518,740 shares of the financial services provider’s stock worth $1,108,415,000 after buying an additional 1,388,992 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the company’s stock in a transaction dated 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 transaction, the director owned 82,207 shares of the company’s stock, valued at $24,492,753.58. This represents a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.47% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Piper Sandler reissued an “overweight” rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 15th. Evercore ISI raised their price target on shares of JPMorgan Chase & Co. from $309.00 to $330.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 30th. Loop Capital set a $310.00 price target on shares of JPMorgan Chase & Co. in a research note on Thursday, October 23rd. Wells Fargo & Company raised their price target on shares of JPMorgan Chase & Co. from $345.00 to $350.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, Barclays raised their price target on shares of 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 equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, JPMorgan Chase & Co. has a consensus rating of “Moderate Buy” and a consensus target price of $326.38.

JPMorgan Chase & Co. Trading Up 0.0%

Shares of JPM stock opened at $309.36 on Wednesday. The company’s 50-day moving average price is $305.42 and its 200-day moving average price is $285.96. 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 stock has a market cap of $850.66 billion, a price-to-earnings ratio of 15.32, a PEG 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.

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 firm 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 company’s revenue was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.37 EPS. As a group, equities analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Monday, October 6th were given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend 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 presently 29.72%.

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.