JPMorgan Chase & Co. $JPM Shares Sold by Gries Financial LLC

Key Points

• Gries Financial LLC reduced its stake in JPMorgan Chase & Co. by 15.2% in the second quarter, now holding 6,674 shares valued at approximately $1.93 million.
• JPMorgan Chase recently announced an increase in its quarterly dividend to $1.50 per share, up from $1.40, reflecting a 1.9% dividend yield.
• Analysts have a consensus rating of "Hold" on JPMorgan Chase & Co. stock, with an average target price of $297.17 per share based on various recent assessments.

Gries Financial LLC lessened its stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 15.2% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,674 shares of the financial services provider's stock after selling 1,197 shares during the quarter. Gries Financial LLC's holdings in JPMorgan Chase & Co. were worth $1,935,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. LCM Capital Management Inc lifted its stake 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 valued at $1,115,000 after buying an additional 36 shares in the last quarter. Lakeshore Financial Planning Inc. grew its position in shares of JPMorgan Chase & Co. by 0.4% in 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 purchasing an additional 37 shares during the last quarter. First Command Advisory Services Inc. lifted 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 buying an additional 40 shares during the last quarter. Black Swift Group LLC boosted its holdings in JPMorgan Chase & Co. by 0.7% in the 1st quarter. Black Swift Group LLC now owns 5,759 shares of the financial services provider's stock valued at $1,413,000 after purchasing an additional 40 shares during the period. Finally, Beacon Bridge Wealth Partners LLC grew its position in 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 buying an additional 40 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on JPM. HSBC restated a "reduce" rating and set a $259.00 price target on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 8th. Phillip Securities cut JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, July 16th. Royal Bank Of Canada restated a "buy" rating on shares of JPMorgan Chase & Co. in a report on Thursday, September 11th. Truist Financial increased their target price on JPMorgan Chase & Co. from $290.00 to $319.00 and gave the stock a "hold" rating in a report on Tuesday. Finally, Robert W. Baird lowered shares of JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 price objective on the stock. in a research report on Friday, June 27th. Thirteen investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $297.17.

Insider Activity at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.47% of the stock is currently owned by insiders.

JPMorgan Chase & Co. Stock Performance

NYSE:JPM opened at $313.42 on Thursday. The firm has a market capitalization of $861.82 billion, a PE ratio of 16.08, a price-to-earnings-growth ratio of 2.06 and a beta of 1.13. 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 stock's 50-day simple moving average is $297.99 and its 200 day simple moving average is $270.52. JPMorgan Chase & Co. has a twelve month low of $202.16 and a twelve month high of $316.58.

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 EPS for the quarter, beating analysts' consensus estimates of $4.48 by $0.48. The firm had revenue of $44.91 billion for the quarter, compared to analyst estimates of $43.76 billion. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.The business's revenue for the quarter was down 10.5% on a year-over-year basis. During the same period last year, the firm posted $6.12 earnings per share. On average, analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, October 6th will be given a dividend of $1.50 per share. The ex-dividend date of this dividend is Monday, October 6th. This is a positive change 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 currently 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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