Great Lakes Advisors LLC cut its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 9.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,145,647 shares of the financial services provider’s stock after selling 118,604 shares during the quarter. JPMorgan Chase & Co. comprises 1.7% of Great Lakes Advisors LLC’s investment portfolio, making the stock its 3rd biggest position. Great Lakes Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $166,623,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of the business. Nordwand Advisors LLC purchased a new stake in shares of JPMorgan Chase & Co. in the first quarter valued at approximately $30,000. Sageworth Trust Co grew its holdings in JPMorgan Chase & Co. by 266.7% in the 1st quarter. Sageworth Trust Co now owns 407 shares of the financial services provider’s stock valued at $53,000 after buying an additional 296 shares in the last quarter. Robbins Farley increased its stake in shares of JPMorgan Chase & Co. by 54.2% in the 1st quarter. Robbins Farley now owns 475 shares of the financial services provider’s stock worth $62,000 after acquiring an additional 167 shares during the last quarter. Miller Wealth Advisors LLC purchased a new position in shares of JPMorgan Chase & Co. during the 2nd quarter worth $67,000. Finally, Guardian Wealth Advisors LLC acquired a new position in shares of JPMorgan Chase & Co. during the 1st quarter valued at about $70,000. Hedge funds and other institutional investors own 68.94% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities analysts have commented on the stock. HSBC initiated coverage on shares of JPMorgan Chase & Co. in a research note on Thursday, September 7th. They set a “hold” rating and a $159.00 target price on the stock. Evercore ISI upped their price objective on JPMorgan Chase & Co. from $158.00 to $167.00 in a report on Thursday, October 5th. BMO Capital Markets increased their price objective on JPMorgan Chase & Co. from $167.00 to $171.00 and gave the stock a “market perform” rating in a research report on Monday, October 16th. StockNews.com assumed coverage on JPMorgan Chase & Co. in a research report on Thursday, October 5th. They issued a “hold” rating on the stock. Finally, Piper Sandler boosted their price objective on shares of JPMorgan Chase & Co. from $168.00 to $170.00 and gave the company an “overweight” rating in a report on Monday, October 16th. Nine equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $168.80.
Insider Transactions at JPMorgan Chase & Co.
In related news, General Counsel Stacey Friedman sold 4,310 shares of the stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $144.86, for a total value of $624,346.60. Following the transaction, the general counsel now owns 53,425 shares of the company’s stock, valued at $7,739,145.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.79% of the company’s stock.
JPMorgan Chase & Co. Price Performance
Shares of NYSE JPM opened at $153.29 on Tuesday. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.90 and a quick ratio of 0.90. The company has a market cap of $443.16 billion, a price-to-earnings ratio of 9.15, a price-to-earnings-growth ratio of 1.80 and a beta of 1.12. The stock’s 50-day moving average is $145.23 and its two-hundred day moving average is $145.34. JPMorgan Chase & Co. has a 1-year low of $123.11 and a 1-year high of $159.38.
JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last released its earnings results on Friday, October 13th. The financial services provider reported $4.33 earnings per share for the quarter, topping analysts’ consensus estimates of $3.95 by $0.38. The firm had revenue of $40.69 billion for the quarter, compared to analyst estimates of $39.63 billion. JPMorgan Chase & Co. had a net margin of 22.79% and a return on equity of 17.97%. The business’s quarterly revenue was up 24.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.12 earnings per share. Analysts forecast that JPMorgan Chase & Co. will post 16.67 EPS for the current fiscal year.
JPMorgan Chase & Co. Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 31st. Stockholders of record on Friday, October 6th were issued a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a dividend yield of 2.74%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend was Thursday, October 5th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 25.07%.
About JPMorgan Chase & Co.
JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services to consumers and small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services.
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