Clear Harbor Asset Management LLC Sells 1,936 Shares of JPMorgan Chase & Co. $JPM

Key Points

• Clear Harbor Asset Management LLC has reduced its stake in JPMorgan Chase & Co. by 1.8%, selling 1,936 shares, while still holding approximately 108,244 shares valued at $31.38 million.
• Various institutional investors have significantly increased their positions in JPMorgan, with one firm growing its stake by 609,867.5% during the second quarter.
• JPMorgan Chase & Co. declared a quarterly dividend of $1.50 per share, a boost from its previous $1.40 dividend, with a dividend yield of 1.9%.

Clear Harbor Asset Management LLC reduced its position in JPMorgan Chase & Co. (NYSE:JPM) by 1.8% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 108,244 shares of the financial services provider's stock after selling 1,936 shares during the period. JPMorgan Chase & Co. comprises approximately 2.4% of Clear Harbor Asset Management LLC's holdings, making the stock its 7th biggest holding. Clear Harbor Asset Management LLC's holdings in JPMorgan Chase & Co. were worth $31,381,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in JPM. Kingstone Capital Partners Texas LLC increased its stake in JPMorgan Chase & Co. by 609,867.5% in the second quarter. Kingstone Capital Partners Texas LLC now owns 72,897,211 shares of the financial services provider's stock valued at $21,133,630,000 after purchasing an additional 72,885,260 shares during the last quarter. GAMMA Investing LLC grew its holdings in JPMorgan Chase & Co. by 25,861.9% in the 1st quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider's stock valued at $5,778,289,000 after buying an additional 23,465,278 shares during the period. Nuveen LLC acquired a new position in shares of JPMorgan Chase & Co. during the 1st quarter valued at about $3,972,807,000. National Bank of Canada FI lifted its holdings in shares of JPMorgan Chase & Co. by 44.4% during the 1st quarter. National Bank of Canada FI now owns 4,518,740 shares of the financial services provider's stock worth $1,108,415,000 after acquiring an additional 1,388,992 shares during the period. Finally, Strs Ohio acquired a new stake in shares of JPMorgan Chase & Co. in the first quarter worth approximately $279,389,000. Hedge funds and other institutional investors own 71.55% of the company's stock.

Analyst Ratings Changes

Several brokerages recently commented on JPM. Baird R W lowered shares of JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a research report on Friday, June 27th. Piper Sandler restated an "overweight" rating on shares of JPMorgan Chase & Co. in a report on Tuesday, July 15th. TD Securities reaffirmed a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, June 4th. Morgan Stanley lifted their target price on JPMorgan Chase & Co. from $296.00 to $298.00 and gave the company an "equal weight" rating in a report on Wednesday, July 16th. Finally, 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 research note on Tuesday, September 16th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, JPMorgan Chase & Co. has a consensus rating of "Moderate Buy" and a consensus price target of $292.78.

Insider Transactions at JPMorgan Chase & Co.

In other news, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction that occurred 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 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.47% of the stock is owned by company insiders.

JPMorgan Chase & Co. Stock Up 0.0%

Shares of NYSE JPM opened at $312.53 on Wednesday. JPMorgan Chase & Co. has a 12-month low of $202.16 and a 12-month high of $316.31. The company has a market cap of $859.37 billion, a P/E ratio of 16.04, a P/E/G ratio of 2.07 and a beta of 1.13. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.25. The stock has a fifty day moving average price of $297.43 and a 200 day moving average price of $270.22.

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 return on equity of 16.93% and a net margin of 20.52%.The company had revenue of $44.91 billion for the quarter, compared to analysts' expectations of $43.76 billion. During the same quarter in the previous year, the firm posted $6.12 earnings per share. The firm's quarterly revenue was down 10.5% on a year-over-year basis. Research analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business 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. The ex-dividend date is Monday, October 6th. This represents a $6.00 dividend on an annualized basis and a yield of 1.9%. This is a boost from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is currently 28.73%.

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.

Want to see what other hedge funds are holding JPM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for JPMorgan Chase & Co. (NYSE:JPM - Free Report).

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.