JPMorgan Chase & Co. $JPM Stake Trimmed by Darden Wealth Group Inc

Darden Wealth Group Inc lessened its position in JPMorgan Chase & Co. (NYSE:JPM) by 4.3% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,670 shares of the financial services provider’s stock after selling 210 shares during the quarter. JPMorgan Chase & Co. makes up about 0.8% of Darden Wealth Group Inc’s holdings, making the stock its 28th biggest holding. Darden Wealth Group Inc’s holdings in JPMorgan Chase & Co. were worth $1,354,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Kingstone Capital Partners Texas LLC lifted its position 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 buying an additional 72,885,260 shares in the last quarter. Nuveen LLC bought a new stake in JPMorgan Chase & Co. during the first quarter valued at about $3,972,807,000. Montrusco Bolton Investments Inc. acquired a new position in shares of JPMorgan Chase & Co. during the second quarter worth approximately $485,802,000. International Assets Investment Management LLC acquired a new position in JPMorgan Chase & Co. during the 2nd quarter valued at $458,104,000. Finally, National Bank of Canada FI grew its position in JPMorgan Chase & Co. by 44.4% during 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.

JPMorgan Chase & Co. Trading Up 0.8%

Shares of NYSE:JPM opened at $311.85 on Thursday. The company has a quick ratio of 0.88, a current ratio of 0.86 and a debt-to-equity ratio of 1.26. The stock has a market cap of $857.51 billion, a PE ratio of 15.45, a P/E/G 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. has a 12-month low of $202.16 and a 12-month high of $318.01.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $46.43 billion during the quarter, compared to analysts’ expectations of $44.42 billion. During the same quarter in the previous year, the business posted $4.37 earnings per share. JPMorgan Chase & Co.’s quarterly revenue was up 8.8% on a year-over-year basis. As a group, equities research analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current 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 paid a dividend of $1.50 per share. The ex-dividend date was Monday, October 6th. This is a positive change 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%. JPMorgan Chase & Co.’s dividend payout ratio is currently 29.72%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on JPM. Piper Sandler reiterated an “overweight” rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 15th. KGI Securities lifted their price target on shares of JPMorgan Chase & Co. from $300.00 to $315.00 and gave the stock a “hold” rating in a research report on Wednesday, October 15th. Evercore ISI increased their target price on shares of JPMorgan Chase & Co. from $309.00 to $330.00 and gave the stock an “outperform” rating in a report on Tuesday, September 30th. Dbs Bank raised shares of JPMorgan Chase & Co. to a “hold” rating in a research report on Tuesday, October 21st. Finally, Royal Bank Of Canada reiterated a “buy” rating and issued a $343.00 price objective on shares of JPMorgan Chase & Co. in a report on Tuesday, October 14th. Two investment 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $326.38.

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 on Tuesday, September 2nd. The stock was sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the completion of the sale, the director directly owned 82,207 shares in the company, valued at $24,492,753.58. This 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 the SEC website. 0.47% of the stock is currently owned by corporate insiders.

JPMorgan Chase & Co. Company 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.