Invictus Private Wealth LLC Lowers Stock Holdings in JPMorgan Chase & Co. $JPM

Key Points

• Invictus Private Wealth LLC reduced its stakes in JPMorgan Chase & Co. by 1.8% during the second quarter, ending with 57,918 shares valued at approximately $16.79 million.
• JPMorgan's quarterly dividend was increased from $1.40 to $1.50, reflecting a 2.0% yield and a payout ratio of 29.72%.
• Several investment analysts maintain a mixed outlook on JPMorgan, with a current consensus rating of "Hold" and an average price target of $322.86.

Invictus Private Wealth LLC reduced its position in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 1.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 57,918 shares of the financial services provider's stock after selling 1,041 shares during the period. JPMorgan Chase & Co. comprises about 1.1% of Invictus Private Wealth LLC's holdings, making the stock its 19th largest holding. Invictus Private Wealth LLC's holdings in JPMorgan Chase & Co. were worth $16,791,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Brighton Jones LLC boosted its holdings 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 purchasing an additional 4,841 shares during the period. GAMMA Investing LLC boosted its holdings in JPMorgan Chase & Co. by 5.8% in the first quarter. GAMMA Investing LLC now owns 96,029 shares of the financial services provider's stock valued at $23,556,000 after purchasing an additional 5,296 shares during the period. Ironwood Wealth Management LLC. boosted its holdings in JPMorgan Chase & Co. by 0.7% in the first quarter. Ironwood Wealth Management LLC. now owns 15,400 shares of the financial services provider's stock valued at $3,778,000 after purchasing an additional 107 shares during the period. Acorns Advisers LLC boosted its holdings in JPMorgan Chase & Co. by 6.9% in the first quarter. Acorns Advisers LLC now owns 1,547 shares of the financial services provider's stock valued at $379,000 after purchasing an additional 100 shares during the period. Finally, Trifecta Capital Advisors LLC boosted its holdings in JPMorgan Chase & Co. by 1.7% in the first quarter. Trifecta Capital Advisors LLC now owns 23,897 shares of the financial services provider's stock valued at $5,862,000 after purchasing an additional 405 shares during the period. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

JPM has been the subject of a number of recent research reports. Truist Financial lifted their target price on JPMorgan Chase & Co. from $290.00 to $319.00 and gave the company a "hold" rating in a report on Tuesday, September 23rd. Robert W. Baird cut JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 price target on the stock. in a research note on Friday, June 27th. The Goldman Sachs Group restated a "buy" rating and issued a $366.00 price target on shares of JPMorgan Chase & Co. in a research note on Tuesday, October 14th. TD Cowen raised their price target on JPMorgan Chase & Co. from $350.00 to $370.00 and gave the company a "buy" rating in a research note on Friday, October 3rd. Finally, Phillip Securities cut JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, July 16th. Fifteen investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $322.86.

Insider Transactions at JPMorgan Chase & Co.

In related news, Director Linda Bammann sold 9,500 shares of the business'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 transaction, the director owned 82,207 shares in the company, valued at $24,492,753.58. The trade was a 10.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.47% of the stock is owned by company insiders.

JPMorgan Chase & Co. Stock Up 1.6%

JPM opened at $302.33 on Tuesday. The business's 50-day simple moving average is $303.07 and its 200-day simple moving average is $279.76. 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 one year low of $202.16 and a one year high of $318.01. The stock has a market capitalization of $831.32 billion, a P/E ratio of 14.97, a price-to-earnings-growth ratio of 1.80 and a beta of 1.13.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its earnings results on Tuesday, October 14th. The financial services provider reported $5.07 EPS for the quarter, topping 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 analysts' expectations of $44.42 billion. During the same quarter in the previous year, the firm earned $4.37 earnings per share. The business's revenue was up 8.8% compared to the same quarter last year. Analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, October 6th will be given a $1.50 dividend. This is a boost from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. The ex-dividend date is Monday, October 6th. This represents a $6.00 annualized dividend and a yield of 2.0%. JPMorgan Chase & Co.'s payout ratio is presently 29.72%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.