Deroy & Devereaux Private Investment Counsel Inc. Sells 3,862 Shares of JPMorgan Chase & Co. $JPM

Key Points

• Deroy & Devereaux Private Investment Counsel Inc. has reduced its stake in JPMorgan Chase & Co. by 2.3%, selling 3,862 shares, while still making it the firm's largest position.
• JPMorgan Chase & Co. recently reported a quarterly earnings of $5.07 per share, surpassing analyst expectations and reflecting an 8.8% increase in revenue year-over-year.
• The company announced an increase in its quarterly dividend from $1.40 to $1.50, with a record date of October 6th, resulting in an annual yield of 2.0%.

Deroy & Devereaux Private Investment Counsel Inc. reduced its stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 2.3% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 167,285 shares of the financial services provider's stock after selling 3,862 shares during the period. JPMorgan Chase & Co. makes up about 2.6% of Deroy & Devereaux Private Investment Counsel Inc.'s holdings, making the stock its largest position. Deroy & Devereaux Private Investment Counsel Inc.'s holdings in JPMorgan Chase & Co. were worth $48,498,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the business. JFS Wealth Advisors LLC boosted its position in shares of JPMorgan Chase & Co. by 0.4% in the 2nd quarter. JFS Wealth Advisors LLC now owns 7,897 shares of the financial services provider's stock worth $2,290,000 after buying an additional 35 shares in the last quarter. LCM Capital Management Inc increased its stake in shares of JPMorgan Chase & Co. by 0.9% during the 2nd quarter. LCM Capital Management Inc now owns 3,847 shares of the financial services provider's stock valued at $1,115,000 after acquiring an additional 36 shares during the last quarter. jvl associates llc increased its position in JPMorgan Chase & Co. by 1.7% during the 2nd quarter. jvl associates llc now owns 2,094 shares of the financial services provider's stock worth $607,000 after purchasing an additional 36 shares in the last quarter. Lakeshore Financial Planning Inc. increased its position in JPMorgan Chase & Co. by 0.4% during the 2nd quarter. Lakeshore Financial Planning Inc. now owns 8,417 shares of the financial services provider's stock worth $2,441,000 after purchasing an additional 37 shares in the last quarter. Finally, Western Financial Corp CA boosted its holdings in JPMorgan Chase & Co. by 1.5% in the 2nd quarter. Western Financial Corp CA now owns 2,642 shares of the financial services provider's stock worth $766,000 after acquiring an additional 38 shares during the period. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Stock Up 1.9%

Shares of JPM stock opened at $300.27 on Friday. The stock's 50 day simple moving average is $303.43 and its 200 day simple moving average is $281.56. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.86. JPMorgan Chase & Co. has a twelve month low of $202.16 and a twelve month high of $318.01. The company has a market capitalization of $825.66 billion, a price-to-earnings ratio of 14.87, a PEG ratio of 1.81 and a beta of 1.13.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share for the quarter, beating analysts' consensus estimates of $4.83 by $0.24. JPMorgan Chase & Co. had a return on equity of 17.18% and a net margin of 20.90%.The business had revenue of $46.43 billion for the quarter, compared to the consensus estimate of $44.42 billion. During the same period last year, the business earned $4.37 EPS. The firm's revenue was up 8.8% compared to the same quarter last year. As a group, research analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, October 6th will be paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Monday, October 6th. This is a positive change from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is 29.72%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on JPM shares. Phillip Securities cut JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, July 16th. Barclays raised their price target on JPMorgan Chase & Co. from $330.00 to $342.00 and gave the company an "overweight" rating in a report on Wednesday, October 15th. Zacks Research raised JPMorgan Chase & Co. from a "hold" rating to a "strong-buy" rating in a research note on Monday, October 20th. Piper Sandler reiterated an "overweight" rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 15th. Finally, Wells Fargo & Company increased their price target on JPMorgan Chase & Co. from $325.00 to $345.00 and gave the company an "overweight" rating in a research report on Tuesday, September 16th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $322.27.

Insider Buying and Selling 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 that occurred 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 transaction, 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 filing with the SEC, which is available at the SEC website. Insiders own 0.47% of the company's stock.

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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