Baker Avenue Asset Management LP Sells 4,513 Shares of JPMorgan Chase & Co. $JPM

Baker Avenue Asset Management LP cut its stake in JPMorgan Chase & Co. (NYSE:JPM) by 2.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 208,089 shares of the financial services provider’s stock after selling 4,513 shares during the quarter. JPMorgan Chase & Co. comprises about 1.7% of Baker Avenue Asset Management LP’s portfolio, making the stock its 16th biggest position. Baker Avenue Asset Management LP’s holdings in JPMorgan Chase & Co. were worth $60,327,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in JPM. Kingstone Capital Partners Texas LLC grew its position in shares of 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 worth $21,133,630,000 after buying an additional 72,885,260 shares during the last quarter. Norges Bank acquired a new stake in JPMorgan Chase & Co. in the second quarter valued at approximately $10,295,209,000. Laurel Wealth Advisors LLC grew its holdings 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 worth $4,866,309,000 after purchasing an additional 16,727,530 shares during the last quarter. Nuveen LLC acquired a new position in shares of JPMorgan Chase & Co. during the first quarter worth $3,972,807,000. Finally, Montrusco Bolton Investments Inc. purchased a new stake in shares of JPMorgan Chase & Co. during the 2nd quarter valued at $485,802,000. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on JPM. Daiwa Capital Markets upped their target price on JPMorgan Chase & Co. from $330.00 to $332.00 and gave the company an “outperform” rating in a research report on Wednesday, October 8th. Citigroup increased their price objective on shares of JPMorgan Chase & Co. from $275.00 to $325.00 and gave the company a “neutral” rating in a research report on Wednesday, September 24th. DZ Bank reiterated a “neutral” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, October 15th. Truist Financial boosted their target price 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, Keefe, Bruyette & Woods raised their price target on shares of JPMorgan Chase & Co. from $330.00 to $354.00 and gave the stock an “outperform” rating in a report on Friday, October 10th. Fifteen analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $325.48.

JPMorgan Chase & Co. Trading Down 4.8%

Shares of JPMorgan Chase & Co. stock opened at $300.23 on Wednesday. The stock has a market cap of $817.29 billion, a PE ratio of 14.87, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08. The firm has a fifty day moving average price of $306.41 and a 200 day moving average price of $295.75. JPMorgan Chase & Co. has a 1 year low of $202.16 and a 1 year high of $322.25. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.86 and a quick ratio of 0.86.

JPMorgan Chase & Co. (NYSE:JPM) last announced 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. The company had revenue of $47.12 billion for the quarter, compared to the consensus estimate of $44.42 billion. JPMorgan Chase & Co. had a return on equity of 17.18% and a net margin of 20.90%.The firm’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period last year, the firm earned $4.37 EPS. Equities research analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Monday, October 6th were given a $1.50 dividend. The ex-dividend date was Monday, October 6th. This represents a $6.00 annualized dividend and a yield of 2.0%. 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%.

Insider Activity at JPMorgan Chase & Co.

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 transaction of $301,314.72. Following the completion of the transaction, the insider directly owned 58,479 shares of the company’s stock, valued at $18,240,769.68. The trade was a 1.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.47% of the stock is owned by insiders.

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.