Beacon Financial Group Sells 864 Shares of JPMorgan Chase & Co. $JPM

Key Points

• Beacon Financial Group reduced its stake in JPMorgan Chase & Co. by 2.1%, selling 864 shares and holding a total of 40,705 shares worth approximately $11.8 million.
• JPMorgan Chase & Co. plans to increase its quarterly dividend to $1.50 per share, up from $1.40, representing a 1.9% yield based on an annualized dividend of $6.00.
• Analysts have varying ratings for JPMorgan, with a consensus average rating of "Moderate Buy" and a target price of $292.78, reflecting mixed investor sentiment.

Beacon Financial Group lessened its holdings in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 2.1% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 40,705 shares of the financial services provider's stock after selling 864 shares during the period. JPMorgan Chase & Co. comprises approximately 1.2% of Beacon Financial Group's holdings, making the stock its 17th biggest position. Beacon Financial Group's holdings in JPMorgan Chase & Co. were worth $11,801,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in JPM. MJT & Associates Financial Advisory Group Inc. bought a new position in shares of JPMorgan Chase & Co. in the 1st quarter worth approximately $28,000. University of Illinois Foundation bought a new position in shares of JPMorgan Chase & Co. in the 1st quarter worth approximately $30,000. Curat Global LLC bought a new position in shares of JPMorgan Chase & Co. in the 1st quarter worth approximately $33,000. Capital A Wealth Management LLC bought a new position in shares of JPMorgan Chase & Co. in the 4th quarter worth approximately $64,000. Finally, Mpwm Advisory Solutions LLC bought a new position in shares of JPMorgan Chase & Co. in the 4th quarter worth approximately $72,000. Institutional investors own 71.55% of the company's stock.

Analysts Set New Price Targets

JPM has been the subject of several analyst reports. Robert W. Baird lowered shares of JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 target price for the company. in a report on Friday, June 27th. Citigroup set a $275.00 target price on shares of JPMorgan Chase & Co. and gave the stock a "buy" rating in a report on Monday, July 7th. Bank of America increased their target price on shares of JPMorgan Chase & Co. from $330.00 to $340.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th. TD Securities reissued a "buy" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, June 4th. Finally, Royal Bank Of Canada set a $305.00 target price on shares of JPMorgan Chase & Co. and gave the stock an "outperform" rating in a report on Monday, June 30th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, six have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $292.78.

Insider Transactions at JPMorgan Chase & Co.

In related news, Director Linda Bammann sold 9,500 shares of the firm's stock in a transaction 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 completion of the sale, the director directly owned 82,207 shares in the company, valued at $24,492,753.58. This trade represents a 10.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.47% of the stock is currently owned by corporate insiders.

JPMorgan Chase & Co. Stock Up 0.1%

Shares of JPM opened at $309.19 on Wednesday. The company has a market cap of $850.20 billion, a PE ratio of 15.86, a P/E/G ratio of 2.05 and a beta of 1.13. The business has a fifty day moving average of $294.81 and a 200 day moving average of $268.04. JPMorgan Chase & Co. has a 52-week low of $202.16 and a 52-week high of $310.90. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.25.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.48 by $0.48. The company had revenue of $44.91 billion during the quarter, compared to the consensus estimate of $43.76 billion. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.JPMorgan Chase & Co.'s revenue was down 10.5% on a year-over-year basis. During the same period last year, the company earned $6.12 earnings per share. On average, sell-side analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, October 6th will be given a $1.50 dividend. This is a boost from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. This represents a $6.00 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Monday, October 6th. JPMorgan Chase & Co.'s dividend payout ratio is 28.73%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.