OVERSEA CHINESE BANKING Corp Ltd Sells 16,496 Shares of JPMorgan Chase & Co. $JPM

OVERSEA CHINESE BANKING Corp Ltd decreased its position in JPMorgan Chase & Co. (NYSE:JPM) by 16.6% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 82,885 shares of the financial services provider’s stock after selling 16,496 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in JPMorgan Chase & Co. were worth $24,020,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in JPM. Harbor Asset Planning Inc. bought a new stake in JPMorgan Chase & Co. in the 2nd quarter worth $26,000. MJT & Associates Financial Advisory Group Inc. bought a new stake in shares of JPMorgan Chase & Co. in the first quarter worth about $28,000. University of Illinois Foundation bought a new stake in shares of JPMorgan Chase & Co. in the first quarter worth about $30,000. Ryan Investment Management Inc. bought a new stake in shares of JPMorgan Chase & Co. in the 2nd quarter worth approximately $37,000. Finally, Christopher J. Hasenberg Inc grew its position in shares of JPMorgan Chase & Co. by 212.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider’s stock worth $45,000 after buying an additional 106 shares during the last quarter. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Trading Up 0.8%

NYSE:JPM opened at $311.85 on Thursday. JPMorgan Chase & Co. has a one year low of $202.16 and a one 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’s 50-day simple moving average is $305.66 and its 200 day simple moving average is $286.14. The firm has a market capitalization of $857.51 billion, a P/E ratio of 15.45, a PEG ratio of 1.84 and a beta of 1.13.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $5.07 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 business had revenue of $46.43 billion for the quarter, compared to analyst estimates of $44.42 billion. During the same quarter in the previous year, the firm 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, analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

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

Insider Buying and Selling

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the business’s stock in a transaction on 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 sale, the director directly owned 82,207 shares of the company’s stock, valued at approximately $24,492,753.58. The trade was a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.47% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on JPM. UBS Group lifted their price objective on JPMorgan Chase & Co. from $339.00 to $350.00 and gave the stock a “buy” rating in a research report on Tuesday, October 7th. Loop Capital set a $310.00 price target on shares of JPMorgan Chase & Co. in a report on Thursday, October 23rd. Dbs Bank upgraded shares of JPMorgan Chase & Co. to a “hold” rating in a report on Tuesday, October 21st. Phillip Securities lowered shares of JPMorgan Chase & Co. from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, July 16th. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 15th. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $326.38.

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.