Allspring Global Investments Holdings LLC Sells 52,048 Shares of JPMorgan Chase & Co. $JPM

Key Points

• Allspring Global Investments Holdings LLC reduced its stake in JPMorgan Chase & Co. by 7.5%, selling 52,048 shares and retaining 645,723 shares valued at approximately $187.5 million.
• JPMorgan Chase & Co. recently announced a quarterly dividend increase to $1.50 per share, up from $1.40, with a dividend yield of 2.0%.
• Analysts have set new price targets for JPMorgan Chase & Co., with Barclays and Keefe, Bruyette & Woods raising their targets to $342.00 and $354.00 respectively, reflecting a generally favorable outlook.

Allspring Global Investments Holdings LLC trimmed its position in JPMorgan Chase & Co. (NYSE:JPM) by 7.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 645,723 shares of the financial services provider's stock after selling 52,048 shares during the period. Allspring Global Investments Holdings LLC's holdings in JPMorgan Chase & Co. were worth $187,524,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of JPM. MJT & Associates Financial Advisory Group Inc. bought a new stake in shares of JPMorgan Chase & Co. in the first quarter valued at about $28,000. University of Illinois Foundation bought a new stake in JPMorgan Chase & Co. during the first quarter worth about $30,000. Ryan Investment Management Inc. bought a new stake in JPMorgan Chase & Co. during the second quarter worth about $37,000. Christopher J. Hasenberg Inc raised its holdings in JPMorgan Chase & Co. by 212.0% during the second 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. Finally, Goodman Advisory Group LLC bought a new stake in JPMorgan Chase & Co. during the first quarter worth about $76,000. 71.55% of the stock is currently owned by institutional investors.

Insider Activity at JPMorgan Chase & Co.

In other news, Director Linda Bammann sold 9,500 shares of the company's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $297.94, for a total value of $2,830,430.00. Following the transaction, the director owned 82,207 shares of the company's stock, valued at approximately $24,492,753.58. This represents a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Price Performance

Shares of NYSE JPM opened at $293.83 on Thursday. The business's 50 day moving average price is $303.23 and its two-hundred day moving average price is $279.98. The company has a market cap of $807.96 billion, a PE ratio of 14.55, a price-to-earnings-growth ratio of 1.79 and a beta of 1.13. 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. has a twelve month low of $202.16 and a twelve month high of $318.01.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share for the quarter, topping analysts' consensus estimates of $4.83 by $0.24. The firm had revenue of $46.43 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 business's revenue was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.37 earnings per share. On average, analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, October 6th will be given a $1.50 dividend. The ex-dividend date of this dividend is Monday, October 6th. This is a positive change from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. This represents a $6.00 annualized dividend and a dividend yield of 2.0%. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is currently 29.72%.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Barclays upped their target price on JPMorgan Chase & Co. from $330.00 to $342.00 and gave the stock an "overweight" rating in a report on Wednesday, October 15th. Piper Sandler reiterated an "overweight" rating on shares of JPMorgan Chase & Co. in a report on Tuesday, July 15th. Hsbc Global Res lowered JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a report on Tuesday, July 8th. Keefe, Bruyette & Woods upped their target price on JPMorgan Chase & Co. from $330.00 to $354.00 and gave the stock an "outperform" rating in a report on Friday, October 10th. Finally, DZ Bank reiterated a "neutral" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, October 15th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, JPMorgan Chase & Co. has an average rating of "Moderate Buy" and an average target price of $322.86.

JPMorgan Chase & Co. 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.

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