JPMorgan Chase & Co. $JPM is Legacy Trust's 8th Largest Position

Key Points

• Legacy Trust decreased its stake in JPMorgan Chase & Co. by 4.4%, now holding 36,198 shares, which account for 2.6% of its total portfolio and make it the fund's 8th largest position.
• JPMorgan recently increased its quarterly dividend to $1.50 per share, yielding a total annualized dividend of $6.00.
• In the second quarter, JPMorgan reported earnings per share of $4.96, exceeding analysts' expectations, along with revenues of $44.91 billion, a 10.5% decrease year-over-year.

Legacy Trust trimmed its position in JPMorgan Chase & Co. (NYSE:JPM) by 4.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 36,198 shares of the financial services provider's stock after selling 1,668 shares during the quarter. JPMorgan Chase & Co. comprises 2.6% of Legacy Trust's holdings, making the stock its 8th largest position. Legacy Trust's holdings in JPMorgan Chase & Co. were worth $10,494,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of JPM. MJT & Associates Financial Advisory Group Inc. purchased a new position in shares of JPMorgan Chase & Co. in the first quarter worth about $28,000. University of Illinois Foundation purchased a new position in JPMorgan Chase & Co. during the first quarter valued at approximately $30,000. Ryan Investment Management Inc. purchased a new position in JPMorgan Chase & Co. during the second quarter valued at approximately $37,000. Christopher J. Hasenberg Inc raised its position in JPMorgan Chase & Co. by 212.0% during the second quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider's stock valued at $45,000 after acquiring an additional 106 shares in the last quarter. Finally, Goodman Advisory Group LLC purchased a new position in JPMorgan Chase & Co. during the first quarter valued at approximately $76,000. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Stock Performance

NYSE JPM opened at $301.12 on Monday. The stock's fifty day moving average is $301.61 and its two-hundred day moving average is $276.98. The firm has a market capitalization of $828.00 billion, a P/E ratio of 15.45, a price-to-earnings-growth ratio of 1.94 and a beta of 1.13. 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 fifty-two week low of $202.16 and a fifty-two week high of $318.01.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share for the quarter, topping analysts' consensus estimates 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 previous year, the company posted $6.12 earnings per share. The firm's revenue for the quarter was down 10.5% compared to the same quarter last year. On average, research analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, October 6th will be issued a $1.50 dividend. The ex-dividend date is Monday, October 6th. This represents a $6.00 annualized dividend and a dividend yield of 2.0%. This is a boost from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is presently 30.79%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on JPM shares. Citigroup lifted their price target on JPMorgan Chase & Co. from $275.00 to $325.00 and gave the company a "neutral" rating in a research report on Wednesday, September 24th. Hsbc Global Res cut JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research report on Tuesday, July 8th. Truist Financial lifted their price target on JPMorgan Chase & Co. from $290.00 to $319.00 and gave the company a "hold" rating in a research report on Tuesday, September 23rd. The Goldman Sachs Group lifted their price target on JPMorgan Chase & Co. from $336.00 to $350.00 and gave the company a "buy" rating in a research report on Friday, October 3rd. Finally, Morgan Stanley lifted their price target on JPMorgan Chase & Co. from $298.00 to $336.00 and gave the company an "equal weight" rating in a research report on Monday, September 29th. Fifteen equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, JPMorgan Chase & Co. currently has an average rating of "Hold" and a consensus target price of $316.00.

Insider Activity

In related news, Director Linda Bammann sold 9,500 shares of the business'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 owned 82,207 shares in the company, valued at approximately $24,492,753.58. The trade was a 10.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.47% of the company's stock.

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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