Brookmont Capital Management Sells 3,232 Shares of JPMorgan Chase & Co. $JPM

Brookmont Capital Management lowered its stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 15.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 17,665 shares of the financial services provider's stock after selling 3,232 shares during the period. JPMorgan Chase & Co. accounts for 2.9% of Brookmont Capital Management's investment portfolio, making the stock its 5th largest position. Brookmont Capital Management's holdings in JPMorgan Chase & Co. were worth $5,121,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. MJT & Associates Financial Advisory Group Inc. acquired a new position in JPMorgan Chase & Co. during the 1st quarter worth $28,000. University of Illinois Foundation acquired a new position in shares of JPMorgan Chase & Co. during the 1st quarter worth about $30,000. Ryan Investment Management Inc. acquired a new position in shares of JPMorgan Chase & Co. during the 2nd quarter worth about $37,000. Christopher J. Hasenberg Inc boosted its position in shares of JPMorgan Chase & Co. by 212.0% during 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. Finally, Goodman Advisory Group LLC acquired a new stake in shares of JPMorgan Chase & Co. in the 1st quarter valued at about $76,000. Hedge funds and other institutional investors own 71.55% of the company's stock.

Insider Activity at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the business's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the sale, the director directly owned 82,207 shares of the company's stock, valued at $24,492,753.58. The trade was a 10.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Stock Down 1.1%

Shares of JPMorgan Chase & Co. stock opened at $304.31 on Thursday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.25. The firm has a market cap of $836.78 billion, a P/E ratio of 15.61, a P/E/G ratio of 1.99 and a beta of 1.13. JPMorgan Chase & Co. has a fifty-two week low of $202.16 and a fifty-two week high of $318.01. The business has a 50-day moving average price of $301.19 and a 200 day moving average price of $275.87.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, beating 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 quarterly revenue was down 10.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $6.12 earnings per share. On average, sell-side analysts forecast 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 disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, October 6th will be given a dividend of $1.50 per share. This is a boost from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. The ex-dividend date is Monday, October 6th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.0%. JPMorgan Chase & Co.'s payout ratio is currently 30.79%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Truist Financial upped their target price on JPMorgan Chase & Co. from $290.00 to $319.00 and gave the company a "hold" rating in a research report on Tuesday, September 23rd. Wells Fargo & Company upped their price target on JPMorgan Chase & Co. from $325.00 to $345.00 and gave the stock an "overweight" rating in a report on Tuesday, September 16th. Deutsche Bank Aktiengesellschaft upped their price target on JPMorgan Chase & Co. from $300.00 to $320.00 and gave the stock a "hold" rating in a report on Tuesday, September 30th. Baird R W cut JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a report on Friday, June 27th. Finally, Robert W. Baird cut JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 price objective on the stock. in a report on Friday, June 27th. Fifteen equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, JPMorgan Chase & Co. presently has an average rating of "Hold" and an average target price of $309.95.

About JPMorgan Chase & Co.

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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