ERn Financial LLC Sells 4,693 Shares of JPMorgan Chase & Co. $JPM

Key Points

• ERn Financial LLC reduced its stake in JPMorgan Chase & Co. by 72.1%, now holding 1,820 shares valued at approximately $528,000.
• Directorial insider Linda Bammann sold 9,500 shares of JPMorgan stock for over $2.83 million, reflecting a 10.36% decrease in her position.
• Analysts have raised their target prices for JPMorgan Chase & Co., with Deutsche Bank increasing it to $320 and Wells Fargo to $345, while maintaining a consensus "Hold" rating.

ERn Financial LLC trimmed its stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 72.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,820 shares of the financial services provider's stock after selling 4,693 shares during the period. ERn Financial LLC's holdings in JPMorgan Chase & Co. were worth $528,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in JPM. Kingstone Capital Partners Texas LLC raised its position in shares of JPMorgan Chase & Co. by 609,867.5% in 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 acquiring an additional 72,885,260 shares in the last quarter. Nuveen LLC acquired a new position in JPMorgan Chase & Co. during the 1st quarter valued at about $3,972,807,000. National Bank of Canada FI increased its position in 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 valued at $1,108,415,000 after buying an additional 1,388,992 shares in the last quarter. Strs Ohio acquired a new position in JPMorgan Chase & Co. during the 1st quarter valued at about $279,389,000. Finally, Alecta Tjanstepension Omsesidigt acquired a new position in JPMorgan Chase & Co. during the 1st quarter valued at about $278,493,000. 71.55% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Linda Bammann sold 9,500 shares of the company's stock in a transaction dated 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 completion of the transaction, the director owned 82,207 shares of the company's stock, valued at approximately $24,492,753.58. This represents a 10.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.47% of the company's stock.

Wall Street Analysts Forecast Growth

JPM has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft upped their target price on JPMorgan Chase & Co. from $300.00 to $320.00 and gave the company a "hold" rating in a research report on Tuesday. Wells Fargo & Company upped their target price 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. Keefe, Bruyette & Woods upped their target price on JPMorgan Chase & Co. from $327.00 to $330.00 and gave the company an "outperform" rating in a research report on Wednesday, July 16th. HSBC reiterated a "reduce" rating and set a $259.00 price target on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 8th. Finally, Hsbc Global Res downgraded JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research note on Tuesday, July 8th. Fourteen analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $303.45.

JPMorgan Chase & Co. Stock Performance

NYSE JPM opened at $309.89 on Friday. The stock has a market capitalization of $852.11 billion, a price-to-earnings ratio of 15.90, a PEG ratio of 2.03 and a beta of 1.13. JPMorgan Chase & Co. has a twelve month low of $202.16 and a twelve 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. The stock has a 50-day moving average of $300.67 and a 200 day moving average of $274.48.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share 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 analysts' expectations 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 quarter in the prior year, the firm posted $6.12 EPS. Sell-side analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, October 6th will be issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 1.9%. 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 payout ratio is currently 28.73%.

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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