JPMorgan Chase & Co. $JPM Shares Sold by Graves Light Lenhart Wealth Inc.

Key Points

• Graves Light Lenhart Wealth Inc. reduced its stake in JPMorgan Chase & Co. by 5.4%, holding 38,583 shares valued at approximately $11.18 million after selling 2,199 shares.
• Director Linda Bammann sold 9,500 shares of JPMorgan stock for $2.83 million, reducing her stake by 10.36%.
• JPMorgan Chase announced an increase in its quarterly dividend to $1.50, up from the previous $1.40, representing a 1.9% annual yield.

Graves Light Lenhart Wealth Inc. lessened its holdings in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 5.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 38,583 shares of the financial services provider's stock after selling 2,199 shares during the period. JPMorgan Chase & Co. comprises 1.3% of Graves Light Lenhart Wealth Inc.'s holdings, making the stock its 22nd biggest holding. Graves Light Lenhart Wealth Inc.'s holdings in JPMorgan Chase & Co. were worth $11,185,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. MJT & Associates Financial Advisory Group Inc. bought a new stake in JPMorgan Chase & Co. during the first quarter worth $28,000. University of Illinois Foundation bought a new position in shares of JPMorgan Chase & Co. during the 1st quarter valued at about $30,000. Curat Global LLC bought a new position in JPMorgan Chase & Co. during the 1st quarter worth approximately $33,000. Christopher J. Hasenberg Inc grew its position in 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 worth $45,000 after acquiring an additional 106 shares during the last quarter. Finally, Capital A Wealth Management LLC purchased a new stake in JPMorgan Chase & Co. in the 4th quarter worth approximately $64,000. 71.55% of the stock is owned by institutional investors and hedge funds.

Insider Activity at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the company's stock in a transaction on 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 transaction, the director owned 82,207 shares in the company, valued at $24,492,753.58. This represents a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.47% of the company's stock.

Wall Street Analyst Weigh In

JPM has been the subject of a number of research analyst reports. Robert W. Baird cut JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 target price for the company. in a research note on Friday, June 27th. Morgan Stanley raised their target price on JPMorgan Chase & Co. from $296.00 to $298.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 16th. Cowen restated a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, July 16th. Keefe, Bruyette & Woods lifted their price objective on JPMorgan Chase & Co. from $327.00 to $330.00 and gave the company an "outperform" rating in a research note on Wednesday, July 16th. Finally, Royal Bank Of Canada reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Thursday, September 11th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, JPMorgan Chase & Co. currently has an average rating of "Moderate Buy" and an average target price of $292.78.

JPMorgan Chase & Co. Stock Performance

JPM stock traded up $1.02 during midday trading on Friday, reaching $314.25. The stock had a trading volume of 23,513,937 shares, compared to its average volume of 7,166,939. The firm has a fifty day simple moving average of $296.43 and a two-hundred day simple moving average of $269.27. The stock has a market cap of $864.11 billion, a PE ratio of 16.12, a P/E/G ratio of 2.09 and a beta of 1.13. JPMorgan Chase & Co. has a 52-week low of $202.16 and a 52-week high of $315.80. 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. (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. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.The firm had revenue of $44.91 billion during the quarter, compared to analyst estimates of $43.76 billion. During the same quarter in the previous year, the business earned $6.12 EPS. JPMorgan Chase & Co.'s revenue for the quarter was down 10.5% compared to the same quarter last year. As a group, equities research analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, October 6th will be paid a dividend of $1.50 per share. The ex-dividend date is Monday, October 6th. 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%. JPMorgan Chase & Co.'s payout ratio is presently 28.73%.

JPMorgan Chase & Co. 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.