JPMorgan Chase & Co. $JPM Holdings Lessened by Aviance Capital Partners LLC

Aviance Capital Partners LLC reduced its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 82,412 shares of the financial services provider’s stock after selling 488 shares during the period. JPMorgan Chase & Co. comprises 3.1% of Aviance Capital Partners LLC’s portfolio, making the stock its 6th largest position. Aviance Capital Partners LLC’s holdings in JPMorgan Chase & Co. were worth $23,892,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in JPM. Kingstone Capital Partners Texas LLC boosted 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 valued at $21,133,630,000 after buying an additional 72,885,260 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of JPMorgan Chase & Co. by 2.7% in the first quarter. Goldman Sachs Group Inc. now owns 20,548,182 shares of the financial services provider’s stock worth $5,040,469,000 after acquiring an additional 548,853 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of JPMorgan Chase & Co. by 5.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 18,441,044 shares of the financial services provider’s stock worth $4,523,588,000 after acquiring an additional 890,553 shares in the last quarter. Nuveen LLC purchased a new position in JPMorgan Chase & Co. in the first quarter valued at about $3,972,807,000. Finally, Invesco Ltd. grew its stake in JPMorgan Chase & Co. by 4.1% during the 1st quarter. Invesco Ltd. now owns 13,754,558 shares of the financial services provider’s stock valued at $3,373,993,000 after purchasing an additional 547,110 shares in the last quarter. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Linda Bammann sold 9,500 shares of the company’s stock in a transaction that occurred 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 transaction, the director directly owned 82,207 shares of the company’s stock, valued at approximately $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 can be accessed through the SEC website. Also, insider Robin Leopold sold 966 shares of the stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $311.92, for a total value of $301,314.72. Following the sale, the insider owned 58,479 shares in the company, valued at $18,240,769.68. The trade was a 1.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.47% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Piper Sandler reaffirmed an “overweight” rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 15th. The Goldman Sachs Group reissued a “buy” rating and set a $366.00 price target on shares of JPMorgan Chase & Co. in a research report on Tuesday, October 14th. Bank of America upped their price target on shares of JPMorgan Chase & Co. from $330.00 to $340.00 and gave the company a “buy” rating in a report on Wednesday, July 16th. TD Cowen increased their price objective on shares of JPMorgan Chase & Co. from $350.00 to $370.00 and gave the company a “buy” rating in a research note on Friday, October 3rd. Finally, Cowen reissued a “buy” rating on shares of JPMorgan Chase & Co. in a report on Wednesday, July 16th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $326.38.

JPMorgan Chase & Co. Stock Performance

Shares of JPM opened at $316.69 on Tuesday. The business’s fifty day moving average price is $306.48 and its 200 day moving average price is $288.11. JPMorgan Chase & Co. has a 12-month low of $202.16 and a 12-month high of $319.56. The stock has a market capitalization of $862.11 billion, a PE ratio of 15.69, a price-to-earnings-growth ratio of 1.84 and a beta of 1.14. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.86 and a quick ratio of 0.88.

JPMorgan Chase & Co. (NYSE:JPM) last released its 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 during the quarter, compared to analyst estimates of $44.42 billion. JPMorgan Chase & Co. had a net margin of 20.90% and a return on equity of 17.18%. The firm’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.37 earnings per share. Equities research analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Monday, October 6th were given a dividend of $1.50 per share. 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 a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. JPMorgan Chase & Co.’s payout ratio is currently 29.72%.

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.