Congress Asset Management Co. Cuts Stock Holdings in JPMorgan Chase & Co. $JPM

Congress Asset Management Co. lessened its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 2.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 110,480 shares of the financial services provider's stock after selling 2,262 shares during the quarter. Congress Asset Management Co.'s holdings in JPMorgan Chase & Co. were worth $32,029,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in JPM. Kingstone Capital Partners Texas LLC boosted its holdings in shares of JPMorgan Chase & Co. by 609,867.5% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 72,897,211 shares of the financial services provider's stock worth $21,133,630,000 after purchasing an additional 72,885,260 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in JPMorgan Chase & Co. by 1.9% during the first quarter. Bank of New York Mellon Corp now owns 24,801,153 shares of the financial services provider's stock worth $6,083,723,000 after buying an additional 454,226 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in JPMorgan Chase & Co. by 2.7% during the first quarter. Goldman Sachs Group Inc. now owns 20,548,182 shares of the financial services provider's stock worth $5,040,469,000 after buying an additional 548,853 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in JPMorgan Chase & Co. by 5.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 18,441,044 shares of the financial services provider's stock worth $4,523,588,000 after buying an additional 890,553 shares during the last quarter. Finally, Nuveen LLC acquired a new position in JPMorgan Chase & Co. during the first quarter worth $3,972,807,000. Institutional investors and hedge funds own 71.55% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on JPM. Cowen reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, July 16th. Zacks Research cut JPMorgan Chase & Co. from a "strong-buy" rating to a "hold" rating in a report on Monday, September 8th. Truist Financial increased their price target on JPMorgan Chase & Co. from $290.00 to $319.00 and gave the stock a "hold" rating in a report on Tuesday, September 23rd. Citigroup increased their price target on JPMorgan Chase & Co. from $275.00 to $325.00 and gave the stock a "neutral" rating in a report on Wednesday, September 24th. Finally, HSBC reaffirmed a "reduce" rating and set a $259.00 target price on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 8th. Thirteen analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $299.28.

JPMorgan Chase & Co. Price Performance

JPMorgan Chase & Co. stock opened at $315.56 on Tuesday. The stock has a market cap of $867.71 billion, a P/E ratio of 16.19, a price-to-earnings-growth ratio of 2.08 and a beta of 1.13. The company has a fifty day simple moving average of $299.46 and a 200-day simple moving average of $272.90. JPMorgan Chase & Co. has a 12-month low of $202.16 and a 12-month high of $318.01. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.25.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced 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 for the quarter was down 10.5% on a year-over-year basis. During the same period in the previous year, the business earned $6.12 EPS. Equities analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, October 6th will be paid a dividend of $1.50 per share. The ex-dividend date 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 yield of 1.9%. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is presently 28.73%.

Insiders Place Their Bets

In related news, Director Linda Bammann sold 9,500 shares of the business'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 transaction of $2,830,430.00. Following the completion of the sale, the director owned 82,207 shares in the company, valued at $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 is available through the SEC website. 0.47% of the stock is currently owned by insiders.

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.

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