Gardner Russo & Quinn LLC Lowers Position in JPMorgan Chase & Co. $JPM

Gardner Russo & Quinn LLC trimmed its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 45.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 573,700 shares of the financial services provider’s stock after selling 469,654 shares during the quarter. JPMorgan Chase & Co. makes up approximately 1.8% of Gardner Russo & Quinn LLC’s holdings, making the stock its 14th largest position. Gardner Russo & Quinn LLC’s holdings in JPMorgan Chase & Co. were worth $166,321,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Harbor Asset Planning Inc. purchased a new stake in JPMorgan Chase & Co. in the second quarter worth $26,000. University of Illinois Foundation bought a new stake in shares of JPMorgan Chase & Co. during the 1st quarter valued at $30,000. Mizuho Securities Co. Ltd. grew its position in shares of JPMorgan Chase & Co. by 450.0% in the 2nd quarter. Mizuho Securities Co. Ltd. now owns 110 shares of the financial services provider’s stock worth $32,000 after buying an additional 90 shares during the period. Ryan Investment Management Inc. bought a new position in shares of JPMorgan Chase & Co. in the 2nd quarter worth about $37,000. Finally, Christopher J. Hasenberg Inc increased its stake 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 acquiring an additional 106 shares in the last quarter. Institutional investors own 71.55% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on JPM shares. Truist Financial upped their price objective on shares of JPMorgan Chase & Co. from $290.00 to $319.00 and gave the stock a “hold” rating in a report on Tuesday, September 23rd. The Goldman Sachs Group cut their price target on JPMorgan Chase & Co. from $355.00 to $354.00 and set a “buy” rating on the stock in a research note on Friday. Loop Capital set a $310.00 price objective on JPMorgan Chase & Co. in a research note on Thursday, October 23rd. UBS Group boosted their target price on JPMorgan Chase & Co. from $339.00 to $350.00 and gave the stock a “buy” rating in a report on Tuesday, October 7th. Finally, Evercore ISI raised their price target on JPMorgan Chase & Co. from $309.00 to $330.00 and gave the company an “outperform” rating in a report on Tuesday, September 30th. Fifteen investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, JPMorgan Chase & Co. has an average rating of “Hold” and an average price target of $325.81.

Insider Activity

In other news, insider Robin Leopold sold 966 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $311.92, for a total value of $301,314.72. Following the completion of the sale, the insider directly 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. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.47% of the stock is currently owned by insiders.

JPMorgan Chase & Co. Stock Performance

Shares of JPM opened at $315.20 on Friday. The business’s fifty day simple moving average is $306.73 and its two-hundred day simple moving average is $294.65. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.26. JPMorgan Chase & Co. has a 12 month low of $202.16 and a 12 month high of $322.25. The company has a market cap of $858.06 billion, a price-to-earnings ratio of 15.61, a P/E/G ratio of 1.64 and a beta of 1.08.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share for the quarter, topping the consensus estimate of $4.83 by $0.24. JPMorgan Chase & Co. had a return on equity of 17.18% and a net margin of 20.90%.The firm had revenue of $47.12 billion during the quarter, compared to analysts’ expectations of $44.42 billion. During the same quarter in the previous year, the business earned $4.37 earnings per share. The company’s revenue was up 8.8% on a year-over-year basis. Research analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share 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. 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 represents a $6.00 annualized dividend and a yield of 1.9%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 29.72%.

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.