Grant Private Wealth Management Inc Trims Stock Holdings in JPMorgan Chase & Co. $JPM

Key Points

• Grant Private Wealth Management Inc has reduced its holdings in JPMorgan Chase & Co. by 50.9%, now owning 3,619 shares valued at approximately $1,049,000 as of the latest filing.
• JPMorgan Chase & Co. has announced a quarterly dividend increase from $1.40 to $1.50, which will be paid on October 31st, representing an annualized dividend yield of 1.9%.
• The company reported earnings of $4.96 per share for the last quarter, exceeding estimates and indicating a 10.5% decrease in revenue compared to the previous year.

Grant Private Wealth Management Inc lowered its position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 50.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,619 shares of the financial services provider's stock after selling 3,746 shares during the quarter. Grant Private Wealth Management Inc's holdings in JPMorgan Chase & Co. were worth $1,049,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in 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 valued at $11,682,000 after buying an additional 4,841 shares during the last quarter. Bank Pictet & Cie Europe AG lifted its stake in JPMorgan Chase & Co. by 0.6% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 192,182 shares of the financial services provider's stock valued at $46,068,000 after buying an additional 1,229 shares during the last quarter. GF Fund Management CO. LTD. purchased a new stake in JPMorgan Chase & Co. in the fourth quarter valued at approximately $114,000. Lakeshore Capital Group Inc. purchased a new stake in JPMorgan Chase & Co. in the fourth quarter valued at approximately $1,142,000. Finally, Discipline Wealth Solutions LLC lifted its stake in JPMorgan Chase & Co. by 10.8% in the fourth quarter. Discipline Wealth Solutions LLC now owns 4,097 shares of the financial services provider's stock valued at $982,000 after buying an additional 398 shares during the last quarter. Hedge funds and other institutional investors own 71.55% of the company's stock.

JPMorgan Chase & Co. Stock Down 0.7%

JPMorgan Chase & Co. stock opened at $312.55 on Tuesday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.88 and a current ratio of 0.88. The firm has a market capitalization of $859.42 billion, a price-to-earnings ratio of 16.04, a price-to-earnings-growth ratio of 2.09 and a beta of 1.13. JPMorgan Chase & Co. has a fifty-two week low of $202.16 and a fifty-two week high of $315.80. The stock's fifty day moving average is $296.91 and its two-hundred day moving average is $269.93.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $43.76 billion. During the same quarter in the prior year, the company earned $6.12 earnings per share. JPMorgan Chase & Co.'s revenue was down 10.5% compared to the same quarter last year. Analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, October 6th will be given a $1.50 dividend. This is an increase from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. This represents a $6.00 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Monday, October 6th. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is currently 28.73%.

Insider Activity

In other news, Director Linda Bammann sold 9,500 shares of the company's stock in a transaction 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 sale, the director directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.47% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently issued reports on JPM shares. Zacks Research lowered JPMorgan Chase & Co. from a "strong-buy" rating to a "hold" rating in a report on Monday, September 8th. Royal Bank Of Canada reissued a "buy" rating on shares of JPMorgan Chase & Co. in a report on Thursday, September 11th. Phillip Securities lowered JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a report on Wednesday, July 16th. Truist Financial boosted their target price on JPMorgan Chase & Co. from $280.00 to $290.00 and gave the company a "hold" rating in a report on Wednesday, July 9th. Finally, Cowen reissued a "buy" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $292.78.

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.

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