Financial Advisory Partners LLC Decreases Position in JPMorgan Chase & Co. $JPM

Key Points

• Financial Advisory Partners LLC has reduced its stake in JPMorgan Chase & Co. by 5.4%, owning 19,263 shares worth approximately $5.58 million after selling 1,100 shares in the 2nd quarter.
• JPMorgan Chase announced a quarterly dividend increase to $1.50 per share, from the previous $1.40, to be paid on October 31st.
• The stock currently has a consensus rating of "Moderate Buy" with a price target of $292.78, according to various financial analysts.

Financial Advisory Partners LLC lessened its holdings in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 5.4% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,263 shares of the financial services provider's stock after selling 1,100 shares during the period. JPMorgan Chase & Co. makes up approximately 1.8% of Financial Advisory Partners LLC's portfolio, making the stock its 15th largest position. Financial Advisory Partners LLC's holdings in JPMorgan Chase & Co. were worth $5,585,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of JPM. Brighton Jones LLC lifted its stake in JPMorgan Chase & Co. by 11.0% in the fourth quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider's stock worth $11,682,000 after acquiring an additional 4,841 shares during the last quarter. Bank Pictet & Cie Europe AG lifted its position in shares of JPMorgan Chase & Co. by 0.6% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 192,182 shares of the financial services provider's stock worth $46,068,000 after purchasing an additional 1,229 shares during the last quarter. GF Fund Management CO. LTD. purchased a new stake in shares of JPMorgan Chase & Co. during the 4th quarter worth $114,000. Capital A Wealth Management LLC purchased a new stake in shares of JPMorgan Chase & Co. during the 4th quarter worth $64,000. Finally, Menard Financial Group LLC lifted its position in shares of JPMorgan Chase & Co. by 1.4% during the 4th quarter. Menard Financial Group LLC now owns 6,076 shares of the financial services provider's stock worth $1,456,000 after purchasing an additional 82 shares during the last quarter. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Linda Bammann sold 9,500 shares of the company'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. This represents 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 this link. 0.47% of the stock is currently owned by corporate insiders.

JPMorgan Chase & Co. Stock Up 0.0%

JPM stock opened at $312.53 on Wednesday. The company has a fifty day moving average price of $297.43 and a 200 day moving average price of $270.22. 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 price-to-earnings ratio of 16.04, a price-to-earnings-growth ratio of 2.07 and a beta of 1.13. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.88.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, beating 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 business had revenue of $44.91 billion during the quarter, compared to analysts' expectations of $43.76 billion. During the same period in the prior year, the company earned $6.12 earnings per share. The business's revenue was down 10.5% compared to the same quarter last year. Sell-side analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share 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. Shareholders of record on Monday, October 6th will be paid a dividend of $1.50 per share. The ex-dividend date of this dividend is Monday, October 6th. This represents a $6.00 annualized dividend 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%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. HSBC reaffirmed a "reduce" rating and set a $259.00 price target on shares of JPMorgan Chase & Co. in a report on Tuesday, July 8th. Evercore ISI set a $298.00 price target on JPMorgan Chase & Co. and gave the company an "outperform" rating in a report on Monday, July 7th. Truist Financial upped their price target on JPMorgan Chase & Co. from $280.00 to $290.00 and gave the company a "hold" rating in a report on Wednesday, July 9th. Phillip Securities downgraded JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a report on Wednesday, July 16th. Finally, Bank of America boosted their price objective on shares of JPMorgan Chase & Co. from $330.00 to $340.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $292.78.

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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