Catalina Capital Group LLC Reduces Stake in JPMorgan Chase & Co. $JPM

Key Points

• Catalina Capital Group LLC has reduced its stake in JPMorgan Chase & Co. by 27.3%, now holding 2,470 shares valued at $716,000.
• JPMorgan Chase & Co. recently declared an increase in its quarterly dividend from $1.40 to $1.50, reflecting a 2.0% yield.
• The company reported a quarterly earnings per share of $4.96, surpassing analysts' expectations of $4.48, despite a 10.5% decline in revenue compared to the previous year.

Catalina Capital Group LLC lowered its position in JPMorgan Chase & Co. (NYSE:JPM) by 27.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,470 shares of the financial services provider's stock after selling 926 shares during the period. Catalina Capital Group LLC's holdings in JPMorgan Chase & Co. were worth $716,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in JPM. MJT & Associates Financial Advisory Group Inc. bought a new stake in JPMorgan Chase & Co. in the first quarter worth about $28,000. University of Illinois Foundation bought a new stake in JPMorgan Chase & Co. in the first quarter worth about $30,000. Ryan Investment Management Inc. bought a new stake in JPMorgan Chase & Co. in the second quarter worth about $37,000. Christopher J. Hasenberg Inc lifted its stake in JPMorgan Chase & Co. by 212.0% in the second quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider's stock worth $45,000 after purchasing an additional 106 shares during the last quarter. Finally, Goodman Advisory Group LLC bought a new stake in JPMorgan Chase & Co. in the first quarter worth about $76,000. Institutional investors own 71.55% of the company's stock.

JPMorgan Chase & Co. Stock Performance

Shares of NYSE:JPM opened at $304.31 on Thursday. The company has a market capitalization of $836.78 billion, a price-to-earnings ratio of 15.61, a price-to-earnings-growth ratio of 1.99 and a beta of 1.13. JPMorgan Chase & Co. has a 52 week low of $202.16 and a 52 week high of $318.01. 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 50 day moving average of $301.19 and a 200 day moving average of $275.87.

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

JPMorgan Chase & Co. Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, October 6th will be issued a $1.50 dividend. This is an increase from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. This represents a $6.00 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Monday, October 6th. JPMorgan Chase & Co.'s dividend payout ratio is presently 30.79%.

Insider Transactions at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total value of $2,830,430.00. Following the transaction, the director directly owned 82,207 shares of the company's stock, valued at approximately $24,492,753.58. The trade was 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 the SEC website. Corporate insiders own 0.47% of the company's stock.

Analyst Ratings Changes

JPM has been the subject of several analyst reports. TD Cowen raised their price objective on shares of JPMorgan Chase & Co. from $350.00 to $370.00 and gave the stock a "buy" rating in a research note on Friday, October 3rd. Phillip Securities downgraded shares of JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, July 16th. Citigroup lifted their price target on shares of JPMorgan Chase & Co. from $275.00 to $325.00 and gave the company a "neutral" rating in a research note on Wednesday, September 24th. Piper Sandler reaffirmed an "overweight" rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 15th. Finally, HSBC reaffirmed a "reduce" rating and set a $259.00 price target on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 8th. Fifteen research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $309.95.

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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