JPMorgan Chase & Co. $JPM Position Trimmed by MinichMacGregor Wealth Management LLC

Key Points

• MinichMacGregor Wealth Management LLC trimmed its position in JPMorgan Chase & Co. by 16.9%, now holding 5,355 shares valued at approximately $1.55 million.
• Recent analyst reports have shown varied opinions, with Baird R W downgrading the stock to a "strong sell," while others like Bank of America and Truist Financial set higher price targets and maintain buy or hold ratings.
• JPMorgan Chase & Co. announced a dividend increase, declaring a quarterly payment of $1.50 per share, up from $1.40, reflecting a 1.9% yield.

MinichMacGregor Wealth Management LLC decreased its position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 16.9% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,355 shares of the financial services provider's stock after selling 1,086 shares during the quarter. MinichMacGregor Wealth Management LLC's holdings in JPMorgan Chase & Co. were worth $1,552,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. LCM Capital Management Inc increased its position in JPMorgan Chase & Co. by 0.9% during the second quarter. LCM Capital Management Inc now owns 3,847 shares of the financial services provider's stock worth $1,115,000 after acquiring an additional 36 shares during the period. Lakeshore Financial Planning Inc. raised its stake in JPMorgan Chase & Co. by 0.4% during the second quarter. Lakeshore Financial Planning Inc. now owns 8,417 shares of the financial services provider's stock worth $2,441,000 after acquiring an additional 37 shares in the last quarter. First Command Advisory Services Inc. grew its holdings in shares of JPMorgan Chase & Co. by 0.4% during the first quarter. First Command Advisory Services Inc. now owns 9,306 shares of the financial services provider's stock worth $2,283,000 after purchasing an additional 40 shares during the last quarter. Black Swift Group LLC grew its holdings in shares of JPMorgan Chase & Co. by 0.7% during the first quarter. Black Swift Group LLC now owns 5,759 shares of the financial services provider's stock worth $1,413,000 after purchasing an additional 40 shares during the last quarter. Finally, Beacon Bridge Wealth Partners LLC grew its holdings in shares of JPMorgan Chase & Co. by 1.8% during the first quarter. Beacon Bridge Wealth Partners LLC now owns 2,231 shares of the financial services provider's stock worth $547,000 after purchasing an additional 40 shares during the last quarter. Institutional investors own 71.55% of the company's stock.

Analysts Set New Price Targets

JPM has been the topic of a number of recent analyst reports. Baird R W cut JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a report on Friday, June 27th. 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 research report on Tuesday, September 23rd. Bank of America boosted their price target on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. TD Securities reaffirmed a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, June 4th. Finally, Hsbc Global Res lowered JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research report on Tuesday, July 8th. Thirteen research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $303.45.

Insider Transactions at JPMorgan Chase & Co.

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 completion of the sale, the director directly owned 82,207 shares in the company, valued at $24,492,753.58. The trade was a 10.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.47% of the stock is owned by company insiders.

JPMorgan Chase & Co. Stock Performance

JPM opened at $315.53 on Wednesday. The business has a fifty day simple moving average of $299.93 and a 200 day simple moving average of $273.19. The company has a market capitalization of $867.63 billion, a PE ratio of 16.19, a price-to-earnings-growth ratio of 2.08 and a beta of 1.13. JPMorgan Chase & Co. has a 1 year low of $202.16 and a 1 year high of $318.01. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.88.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share (EPS) 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 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 firm's quarterly revenue was down 10.5% on a year-over-year basis. During the same period in the previous year, the company posted $6.12 EPS. Research analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, October 6th will be paid 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 1.9%. JPMorgan Chase & Co.'s dividend payout ratio is presently 28.73%.

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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