Hartford Investment Management Co. Has $48.63 Million Position in JPMorgan Chase & Co. $JPM

Hartford Investment Management Co. reduced its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 1.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 167,742 shares of the financial services provider's stock after selling 2,889 shares during the quarter. JPMorgan Chase & Co. comprises 1.5% of Hartford Investment Management Co.'s portfolio, making the stock its 11th biggest holding. Hartford Investment Management Co.'s holdings in JPMorgan Chase & Co. were worth $48,630,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Kingstone Capital Partners Texas LLC boosted its position in JPMorgan Chase & Co. by 609,867.5% in the second quarter. Kingstone Capital Partners Texas LLC now owns 72,897,211 shares of the financial services provider's stock valued at $21,133,630,000 after buying an additional 72,885,260 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in JPMorgan Chase & Co. by 1.9% in the first quarter. Bank of New York Mellon Corp now owns 24,801,153 shares of the financial services provider's stock valued at $6,083,723,000 after buying an additional 454,226 shares during the period. Goldman Sachs Group Inc. lifted its stake in JPMorgan Chase & Co. by 2.7% in the first quarter. Goldman Sachs Group Inc. now owns 20,548,182 shares of the financial services provider's stock valued at $5,040,469,000 after buying an additional 548,853 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of JPMorgan Chase & Co. by 5.1% in the 1st 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 valued at $4,523,588,000 after acquiring an additional 890,553 shares during the period. Finally, Nuveen LLC acquired a new stake in shares of JPMorgan Chase & Co. during the first quarter worth about $3,972,807,000. 71.55% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at JPMorgan Chase & Co.

In other news, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction dated Tuesday, September 2nd. The shares were 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 in the company, valued at $24,492,753.58. This trade 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 at the SEC website. 0.47% of the stock is owned by corporate insiders.

JPMorgan Chase & Co. Price Performance

Shares of NYSE:JPM opened at $315.56 on Tuesday. The firm has a market cap of $867.71 billion, a PE ratio of 16.19, a price-to-earnings-growth ratio of 2.08 and a beta of 1.13. The firm's fifty day moving average is $299.46 and its 200-day moving average is $272.90. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.88 and a current ratio of 0.88. JPMorgan Chase & Co. has a 52 week low of $202.16 and a 52 week high of $318.01.

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, topping the consensus estimate of $4.48 by $0.48. The firm had revenue of $44.91 billion for 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%.The business's quarterly revenue was down 10.5% compared to the same quarter last year. During the same period in the previous year, the business earned $6.12 EPS. Sell-side analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, October 6th will be issued 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 is currently 28.73%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Truist Financial lifted their price objective on shares of JPMorgan Chase & Co. from $290.00 to $319.00 and gave the company a "hold" rating in a report on Tuesday, September 23rd. Cowen reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, July 16th. Wells Fargo & Company boosted their target price on shares of JPMorgan Chase & Co. from $325.00 to $345.00 and gave the stock an "overweight" rating in a report on Tuesday, September 16th. 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 note on Wednesday, July 16th. Finally, TD Securities reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, June 4th. Thirteen investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $299.28.

About JPMorgan Chase & Co.

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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