JPMorgan Chase & Co. $JPM Shares Sold by Fortitude Family Office LLC

Key Points

• Fortitude Family Office LLC reduced its stake in JPMorgan Chase & Co. by 8.5%, now holding 9,506 shares valued at approximately $2.76 million.
• JPMorgan Chase recently declared a quarterly dividend increase from $1.40 to $1.50 per share, reflecting an annualized dividend of $6.00 and a yield of 1.9%.
• Analysts have set various price targets for JPMorgan Chase, with a consensus rating of "Hold" and an average price target of $297.17.

Fortitude Family Office LLC trimmed its stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 8.5% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,506 shares of the financial services provider's stock after selling 884 shares during the quarter. JPMorgan Chase & Co. makes up 0.9% of Fortitude Family Office LLC's holdings, making the stock its 27th largest holding. Fortitude Family Office LLC's holdings in JPMorgan Chase & Co. were worth $2,756,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of JPM. LCM Capital Management Inc grew its holdings in shares of 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 valued at $1,115,000 after buying an additional 36 shares in the last quarter. Lakeshore Financial Planning Inc. grew its holdings in shares of 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 valued at $2,441,000 after buying 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 valued at $2,283,000 after buying an additional 40 shares in 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 valued at $1,413,000 after buying an additional 40 shares in 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 valued at $547,000 after buying an additional 40 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. 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 completion of the sale, the director owned 82,207 shares of the company's stock, valued at $24,492,753.58. The trade was a 10.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.47% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

JPM has been the topic of a number of research analyst reports. Cowen reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, July 16th. Evercore ISI set a $298.00 price target on JPMorgan Chase & Co. and gave the company an "outperform" rating in a report on Monday, July 7th. Citigroup lifted their price target on JPMorgan Chase & Co. from $275.00 to $325.00 and gave the company a "neutral" rating in a report on Wednesday. Hsbc Global Res downgraded JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a report on Tuesday, July 8th. Finally, Royal Bank Of Canada reissued a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Thursday, September 11th. 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 company's stock. According to data from MarketBeat, JPMorgan Chase & Co. has an average rating of "Hold" and an average target price of $297.17.

JPMorgan Chase & Co. Price Performance

JPM opened at $313.48 on Friday. The stock has a market cap of $862.00 billion, a price-to-earnings ratio of 16.08, a PEG ratio of 2.06 and a beta of 1.13. JPMorgan Chase & Co. has a 1 year low of $202.16 and a 1 year high of $316.58. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.25. The stock has a fifty day moving average price of $298.46 and a 200 day moving average price of $271.08.

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, 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 during the quarter, compared to analysts' expectations of $43.76 billion. During the same quarter in the previous year, the firm earned $6.12 earnings per share. The business's quarterly revenue was down 10.5% compared to the same quarter last year. Analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business 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. This is an increase from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Monday, October 6th. JPMorgan Chase & Co.'s payout ratio is presently 28.73%.

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.

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