Garland Capital Management Inc. Has $2.34 Million Holdings in JPMorgan Chase & Co. $JPM

Garland Capital Management Inc. reduced its stake in JPMorgan Chase & Co. (NYSE:JPM) by 68.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,070 shares of the financial services provider’s stock after selling 17,585 shares during the period. JPMorgan Chase & Co. makes up approximately 7.4% of Garland Capital Management Inc.’s investment portfolio, making the stock its biggest position. Garland Capital Management Inc.’s holdings in JPMorgan Chase & Co. were worth $2,340,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Yukon Wealth Management Inc. lifted its position in shares of JPMorgan Chase & Co. by 1.0% during the 2nd quarter. Yukon Wealth Management Inc. now owns 9,020 shares of the financial services provider’s stock valued at $2,615,000 after acquiring an additional 89 shares during the period. GoalVest Advisory LLC lifted its position in JPMorgan Chase & Co. by 2.3% during the second quarter. GoalVest Advisory LLC now owns 15,526 shares of the financial services provider’s stock worth $4,501,000 after purchasing an additional 347 shares during the period. First Command Advisory Services Inc. grew its stake in JPMorgan Chase & Co. by 11.1% during the second quarter. First Command Advisory Services Inc. now owns 10,341 shares of the financial services provider’s stock worth $2,998,000 after buying an additional 1,035 shares in the last quarter. Banco Santander S.A. increased its holdings in JPMorgan Chase & Co. by 13.8% in the 2nd quarter. Banco Santander S.A. now owns 415,062 shares of the financial services provider’s stock valued at $120,331,000 after buying an additional 50,404 shares during the period. Finally, Solstein Capital LLC increased its holdings in JPMorgan Chase & Co. by 4.3% in the 2nd quarter. Solstein Capital LLC now owns 6,513 shares of the financial services provider’s stock valued at $1,888,000 after buying an additional 269 shares during the period. 71.55% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction 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 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 filing with the Securities & Exchange Commission, which is available at the SEC website. 0.47% of the stock is owned by corporate insiders.

JPMorgan Chase & Co. Price Performance

Shares of JPM opened at $311.85 on Thursday. JPMorgan Chase & Co. has a 1 year low of $202.16 and a 1 year high of $318.01. 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 market capitalization of $857.51 billion, a price-to-earnings ratio of 15.45, a price-to-earnings-growth ratio of 1.84 and a beta of 1.13. The business has a 50-day moving average of $305.66 and a 200-day moving average of $286.14.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.83 by $0.24. JPMorgan Chase & Co. had a net margin of 20.90% and a return on equity of 17.18%. The firm had revenue of $46.43 billion during the quarter, compared to analyst estimates of $44.42 billion. During the same quarter last year, the business earned $4.37 EPS. The company’s revenue was up 8.8% compared to the same quarter last year. As a group, equities research analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Barclays upped their price target on shares of JPMorgan Chase & Co. from $330.00 to $342.00 and gave the stock an “overweight” rating in a report on Wednesday, October 15th. Evercore ISI upped their target price on 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 target price on JPMorgan Chase & Co. in a research note on Thursday, October 23rd. Dbs Bank upgraded JPMorgan Chase & Co. to a “hold” rating in a research note on Tuesday, October 21st. Finally, Bank of America upped their price objective on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the stock a “buy” rating in a research report on Wednesday, July 16th. Two 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 issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $326.38.

JPMorgan Chase & Co. 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.