Franklin Resources Inc. Sells 236,337 Shares of JPMorgan Chase & Co. $JPM

Franklin Resources Inc. decreased its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,015,760 shares of the financial services provider’s stock after selling 236,337 shares during the period. JPMorgan Chase & Co. comprises about 1.0% of Franklin Resources Inc.’s holdings, making the stock its 11th largest position. Franklin Resources Inc. owned approximately 0.47% of JPMorgan Chase & Co. worth $3,773,400,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the stock. Brighton Jones LLC raised its holdings in JPMorgan Chase & Co. by 11.0% during the 4th quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider’s stock valued at $11,682,000 after acquiring an additional 4,841 shares during the period. Acorns Advisers LLC grew its position in shares of JPMorgan Chase & Co. by 6.9% in the first quarter. Acorns Advisers LLC now owns 1,547 shares of the financial services provider’s stock valued at $379,000 after purchasing an additional 100 shares in the last quarter. HB Wealth Management LLC raised its stake in shares of JPMorgan Chase & Co. by 28.0% during the 1st quarter. HB Wealth Management LLC now owns 219,144 shares of the financial services provider’s stock valued at $53,756,000 after purchasing an additional 47,905 shares during the period. TD Asset Management Inc lifted its holdings in JPMorgan Chase & Co. by 2.2% during the 1st quarter. TD Asset Management Inc now owns 5,068,154 shares of the financial services provider’s stock worth $1,243,218,000 after purchasing an additional 108,675 shares in the last quarter. Finally, Brown Wealth Management LLC lifted its holdings in JPMorgan Chase & Co. by 2.4% during the 1st quarter. Brown Wealth Management LLC now owns 2,360 shares of the financial services provider’s stock worth $579,000 after purchasing an additional 55 shares in the last quarter. Institutional investors own 71.55% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on JPM shares. UBS Group lifted their target price on JPMorgan Chase & Co. from $339.00 to $350.00 and gave the company a “buy” rating in a report on Tuesday, October 7th. Barclays raised their price objective on shares of JPMorgan Chase & Co. from $330.00 to $342.00 and gave the company an “overweight” rating in a research report on Wednesday, October 15th. Loop Capital set a $310.00 target price on shares of JPMorgan Chase & Co. in a report on Thursday, October 23rd. Morgan Stanley increased their target price on shares of JPMorgan Chase & Co. from $336.00 to $338.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 15th. Finally, Wolfe Research boosted their price target on shares of JPMorgan Chase & Co. from $342.00 to $346.00 and gave the company an “outperform” rating in a research report on Thursday, October 16th. Fifteen investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, JPMorgan Chase & Co. has a consensus rating of “Hold” and an average price target of $326.38.

JPMorgan Chase & Co. Trading Up 1.8%

Shares of JPMorgan Chase & Co. stock opened at $313.26 on Friday. 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. has a 1 year low of $202.16 and a 1 year high of $322.25. The firm has a market cap of $852.78 billion, a PE ratio of 15.52, a PEG ratio of 1.84 and a beta of 1.14. The company has a 50 day simple moving average of $306.89 and a two-hundred day simple moving average of $293.25.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $5.07 EPS for the quarter, topping analysts’ consensus estimates of $4.83 by $0.24. The firm had revenue of $47.12 billion for 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 business’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.37 EPS. Analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Monday, October 6th were given 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 (DPR) is 29.72%.

Insider Activity

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction dated 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 owned 82,207 shares of the company’s stock, valued at $24,492,753.58. The trade was a 10.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Robin Leopold sold 966 shares of the stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $311.92, for a total value of $301,314.72. Following the transaction, the insider owned 58,479 shares in the company, valued at $18,240,769.68. This trade represents a 1.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.47% of the company’s stock.

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.