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

Key Points

• KG&L Capital Management LLC sold 1,366 shares of JPMorgan Chase & Co., reducing its holdings by 2.6%, which now represent 4.3% of its investment portfolio.
• JPMorgan Chase & Co. reported earnings of $4.96 per share, surpassing analysts' expectations, while quarterly revenue decreased 10.5% year-over-year.
• The company declared a quarterly dividend of $1.50 per share, up from $1.40, marking a yield of 1.9% for shareholders.

KG&L Capital Management LLC decreased its position in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 2.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 51,210 shares of the financial services provider's stock after selling 1,366 shares during the quarter. JPMorgan Chase & Co. accounts for approximately 4.3% of KG&L Capital Management LLC's investment portfolio, making the stock its 3rd largest holding. KG&L Capital Management LLC's holdings in JPMorgan Chase & Co. were worth $14,675,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. MJT & Associates Financial Advisory Group Inc. acquired a new position in JPMorgan Chase & Co. in the first quarter valued at approximately $28,000. University of Illinois Foundation acquired a new position in JPMorgan Chase & Co. in the first quarter valued at approximately $30,000. Curat Global LLC acquired a new position in JPMorgan Chase & Co. in the first quarter valued at approximately $33,000. Ryan Investment Management Inc. acquired a new position in JPMorgan Chase & Co. in the second quarter valued at approximately $37,000. Finally, Christopher J. Hasenberg Inc lifted its holdings in JPMorgan Chase & Co. by 212.0% in the second quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider's stock valued at $45,000 after acquiring an additional 106 shares during the period. Institutional investors and hedge funds own 71.55% of the company's stock.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the company's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the sale, the director owned 82,207 shares in the company, valued at $24,492,753.58. This represents a 10.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.47% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Evercore ISI boosted their price target on JPMorgan Chase & Co. from $309.00 to $330.00 and gave the company an "outperform" rating in a report on Tuesday. The Goldman Sachs Group set a $330.00 price objective on JPMorgan Chase & Co. in a research report on Tuesday. Piper Sandler restated an "overweight" rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 15th. Cowen restated a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, July 16th. Finally, Keefe, Bruyette & Woods boosted their price objective on JPMorgan Chase & Co. from $327.00 to $330.00 and gave the company an "outperform" rating in a research report on Wednesday, July 16th. Thirteen investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $303.45.

JPMorgan Chase & Co. Stock Down 1.5%

Shares of JPM opened at $310.82 on Thursday. 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. has a one year low of $202.16 and a one year high of $318.01. The stock has a market capitalization of $854.68 billion, a price-to-earnings ratio of 15.95, a PEG ratio of 2.08 and a beta of 1.13. The stock has a 50 day moving average price of $300.22 and a 200 day moving average price of $273.45.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its 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. 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 period in the prior year, the business earned $6.12 EPS. The firm's quarterly revenue was down 10.5% on a year-over-year basis. Equities research analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share 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 issued a dividend of $1.50 per share. This is a positive change 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 (DPR) is currently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.