JPMorgan Chase & Co. $JPM Shares Sold by Bourgeon Capital Management LLC

Key Points

• Bourgeon Capital Management LLC reduced its stake in JPMorgan Chase & Co. by 2.5% during Q2, now holding 92,194 shares, which account for 5.3% of its investment portfolio.
• Insider trading revealed that Director Linda Bammann sold 9,500 shares at an average price of $297.94, reducing her position by 10.36%.
• Multiple brokerages have adjusted their price targets for JPMorgan, with Goldman Sachs raising it to $350.00 while maintaining a "buy" rating, as the stock has an average price target of $307.70 according to analysts.

Bourgeon Capital Management LLC cut its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 2.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 92,194 shares of the financial services provider's stock after selling 2,355 shares during the quarter. JPMorgan Chase & Co. accounts for about 5.3% of Bourgeon Capital Management LLC's investment portfolio, making the stock its largest holding. Bourgeon Capital Management LLC's holdings in JPMorgan Chase & Co. were worth $26,728,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of JPM. MJT & Associates Financial Advisory Group Inc. acquired a new stake in shares of JPMorgan Chase & Co. during the 1st quarter valued at about $28,000. University of Illinois Foundation acquired a new stake in shares of JPMorgan Chase & Co. during the 1st quarter valued at about $30,000. Ryan Investment Management Inc. acquired a new stake in shares of JPMorgan Chase & Co. during the 2nd quarter valued at about $37,000. Christopher J. Hasenberg Inc lifted its holdings in shares of JPMorgan Chase & Co. by 212.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider's stock valued at $45,000 after buying an additional 106 shares during the last quarter. Finally, Goodman Advisory Group LLC acquired a new stake in shares of JPMorgan Chase & Co. during the 1st quarter valued at about $76,000. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction that occurred 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 transaction, the director directly owned 82,207 shares of the company's stock, valued at $24,492,753.58. The trade was a 10.36% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.47% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on JPM. 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 report on Friday. HSBC reiterated a "reduce" rating and set a $259.00 price target on shares of JPMorgan Chase & Co. in a report on Tuesday, July 8th. Piper Sandler reiterated an "overweight" rating on shares of JPMorgan Chase & Co. in a report on Tuesday, July 15th. Bank of America lifted their price target on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. Finally, Phillip Securities downgraded JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, July 16th. Fifteen research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $307.70.

JPMorgan Chase & Co. Stock Performance

Shares of NYSE JPM opened at $309.89 on Monday. 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 business's 50 day moving average is $300.67 and its two-hundred day moving average is $274.97. The company has a market cap of $852.11 billion, a P/E ratio of 15.90, a P/E/G ratio of 2.04 and a beta of 1.13. JPMorgan Chase & Co. has a 12 month low of $202.16 and a 12 month high of $318.01.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly 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 company 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 company's revenue for the quarter was down 10.5% on a year-over-year basis. During the same period in the previous year, the business posted $6.12 EPS. On average, equities analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders 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 yield of 1.9%. This is an increase from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. JPMorgan Chase & Co.'s dividend payout ratio (DPR) 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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