Advisors Asset Management Inc. Has $20.13 Million Stake in JPMorgan Chase & Co. $JPM

Advisors Asset Management Inc. reduced its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 8.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 69,438 shares of the financial services provider’s stock after selling 6,541 shares during the period. Advisors Asset Management Inc.’s holdings in JPMorgan Chase & Co. were worth $20,131,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Southeast Asset Advisors LLC grew its stake in shares of JPMorgan Chase & Co. by 18.9% during the second quarter. Southeast Asset Advisors LLC now owns 7,529 shares of the financial services provider’s stock worth $2,183,000 after purchasing an additional 1,198 shares during the period. Laurel Wealth Advisors LLC lifted its stake in JPMorgan Chase & Co. by 28,813.7% in the second quarter. Laurel Wealth Advisors LLC now owns 16,785,584 shares of the financial services provider’s stock valued at $4,866,309,000 after buying an additional 16,727,530 shares during the period. Spectrum Wealth Advisory Group LLC bought a new position in JPMorgan Chase & Co. during the second quarter worth about $229,000. RiverFront Investment Group LLC boosted its holdings in JPMorgan Chase & Co. by 35.3% during the second quarter. RiverFront Investment Group LLC now owns 223,537 shares of the financial services provider’s stock worth $64,806,000 after buying an additional 58,354 shares during the last quarter. Finally, XTX Topco Ltd acquired a new position in shares of JPMorgan Chase & Co. during the 2nd quarter worth about $5,173,000. 71.55% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Zacks Research downgraded shares of JPMorgan Chase & Co. from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 18th. Wall Street Zen raised shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. 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. Truist Financial lifted their price target on shares of JPMorgan Chase & Co. from $290.00 to $319.00 and gave the stock a “hold” rating in a research report on Tuesday, September 23rd. Finally, Wells Fargo & Company upped their price objective on shares of JPMorgan Chase & Co. from $345.00 to $350.00 and gave the company an “overweight” rating in a research report on Monday, November 3rd. Fifteen equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $326.38.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock opened at $307.84 on Wednesday. JPMorgan Chase & Co. has a 12 month low of $202.16 and a 12 month high of $322.25. The company’s fifty day simple moving average is $306.73 and its 200-day simple moving average is $294.02. The firm has a market cap of $838.02 billion, a PE ratio of 15.25, a P/E/G ratio of 1.84 and a beta of 1.14. The company has a quick ratio of 0.88, a current ratio of 0.86 and a debt-to-equity ratio of 1.26.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, beating 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 $47.12 billion for the quarter, compared to analyst estimates of $44.42 billion. During the same period in the previous year, the business earned $4.37 EPS. The company’s revenue was up 8.8% compared to the same quarter last year. Equities research analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

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

Insider Buying and Selling

In other JPMorgan Chase & Co. news, insider Robin Leopold sold 966 shares of the firm’s 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 completion of the transaction, the insider directly 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. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.47% of the company’s stock.

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.