JPMorgan Chase & Co. $JPM Holdings Cut by Dakota Wealth Management

Key Points

• JPMorgan Chase & Co. had a 1.5% reduction in its position by Dakota Wealth Management during the 2nd quarter, now owning 252,486 shares valued at approximately $73.2 million.
• In addition to Dakota, other institutional investors showed significant activity, with Kingstone Capital increasing holdings by over 609,867%, acquiring nearly 72.9 million shares worth about $21.1 billion.
• The company has announced a quarterly dividend of $1.50, reflecting an increase from the previous quarter's dividend, with a current yield of 1.9%.

Dakota Wealth Management cut its position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 1.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 252,486 shares of the financial services provider's stock after selling 3,969 shares during the quarter. JPMorgan Chase & Co. comprises 1.5% of Dakota Wealth Management's investment portfolio, making the stock its 7th biggest position. Dakota Wealth Management's holdings in JPMorgan Chase & Co. were worth $73,198,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Kingstone Capital Partners Texas LLC increased its holdings 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 buying an additional 72,885,260 shares during the last quarter. Nuveen LLC bought a new position in shares of JPMorgan Chase & Co. in the 1st quarter worth $3,972,807,000. National Bank of Canada FI increased its holdings in shares of JPMorgan Chase & Co. by 44.4% in the 1st quarter. National Bank of Canada FI now owns 4,518,740 shares of the financial services provider's stock worth $1,108,415,000 after buying an additional 1,388,992 shares during the last quarter. Strs Ohio bought a new position in shares of JPMorgan Chase & Co. in the 1st quarter worth $279,389,000. Finally, Alecta Tjanstepension Omsesidigt bought a new position in shares of JPMorgan Chase & Co. in the 1st quarter worth $278,493,000. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at JPMorgan Chase & Co.

In other news, Director Linda Bammann sold 9,500 shares of the firm's 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 sale, the director directly owned 82,207 shares of the company's stock, valued at approximately $24,492,753.58. This trade represents a 10.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Trading Up 0.9%

Shares of JPM opened at $316.12 on Monday. The stock has a market capitalization of $869.25 billion, a P/E ratio of 16.22, a PEG ratio of 2.08 and a beta of 1.13. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.25. The firm has a fifty day simple moving average of $298.96 and a two-hundred day simple moving average of $272.32. JPMorgan Chase & Co. has a twelve month low of $202.16 and a twelve month high of $317.81.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its quarterly 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. The business had revenue of $44.91 billion during the quarter, compared to analysts' expectations of $43.76 billion. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The firm's revenue for the quarter was down 10.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $6.12 EPS. On average, research analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Monday, October 6th. This represents a $6.00 annualized dividend and a dividend yield of 1.9%. This is a positive change from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. JPMorgan Chase & Co.'s dividend payout ratio is 28.73%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on JPM shares. Royal Bank Of Canada reissued a "buy" rating on shares of JPMorgan Chase & Co. in a report on Thursday, September 11th. Phillip Securities lowered shares of JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a report on Wednesday, July 16th. Piper Sandler reaffirmed an "overweight" rating on shares of JPMorgan Chase & Co. in a report on Tuesday, July 15th. Zacks Research lowered shares of JPMorgan Chase & Co. from a "strong-buy" rating to a "hold" rating in a report on Monday, September 8th. Finally, Robert W. Baird lowered shares of JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 target price on the stock. in a report on Friday, June 27th. Thirteen equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, JPMorgan Chase & Co. presently has a consensus rating of "Hold" and an average target price of $297.17.

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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