JPMorgan Chase & Co. $JPM Shares Sold by Lynch & Associates IN

Key Points

• Lynch & Associates IN reduced its holdings in JPMorgan Chase & Co. by 2.1%, currently owning 54,979 shares valued at approximately $15.9 million.
• JPMorgan Chase & Co. reported a quarterly earnings per share (EPS) of $4.96, exceeding analyst expectations, despite a 10.5% decline in revenue compared to the previous year.
• The company announced an increase in its quarterly dividend to $1.50 per share, reflecting a positive change from the previous $1.40 and a 1.9% dividend yield.

Lynch & Associates IN trimmed its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 2.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,979 shares of the financial services provider's stock after selling 1,153 shares during the period. JPMorgan Chase & Co. comprises approximately 3.2% of Lynch & Associates IN's holdings, making the stock its 5th biggest holding. Lynch & Associates IN's holdings in JPMorgan Chase & Co. were worth $15,939,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in JPM. MJT & Associates Financial Advisory Group Inc. bought a new stake in shares of JPMorgan Chase & Co. in the 1st quarter worth approximately $28,000. University of Illinois Foundation bought a new stake in JPMorgan Chase & Co. in the 1st quarter valued at $30,000. Curat Global LLC acquired a new position in shares of JPMorgan Chase & Co. in the 1st quarter valued at $33,000. Ryan Investment Management Inc. acquired a new stake in JPMorgan Chase & Co. in the 2nd quarter valued at about $37,000. Finally, Christopher J. Hasenberg Inc boosted its stake 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. Hedge funds and other institutional investors own 71.55% of the company's stock.

JPMorgan Chase & Co. Trading Up 0.9%

Shares of JPMorgan Chase & Co. stock opened at $316.12 on Friday. JPMorgan Chase & Co. has a 1 year low of $202.16 and a 1 year high of $317.81. The firm has a market cap of $869.25 billion, a PE ratio of 16.22, a P/E/G ratio of 2.07 and a beta of 1.13. The stock has a fifty day moving average price of $298.96 and a 200-day moving average price of $271.68. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.88.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced 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 firm had revenue of $44.91 billion during the quarter, compared to analyst estimates of $43.76 billion. During the same period last year, the firm posted $6.12 EPS. The business's revenue was down 10.5% compared to the same quarter last year. 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 disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, October 6th will be issued a dividend of $1.50 per share. The ex-dividend date of this dividend is Monday, October 6th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.9%. This is a positive change from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. JPMorgan Chase & Co.'s payout ratio is 28.73%.

Insider Buying and Selling 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 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.47% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on JPM shares. Keefe, Bruyette & Woods lifted their price objective on shares of JPMorgan Chase & Co. from $327.00 to $330.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 16th. Cowen reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, July 16th. Wells Fargo & Company increased their target price on JPMorgan Chase & Co. from $325.00 to $345.00 and gave the stock an "overweight" rating in a report on Tuesday, September 16th. Baird R W lowered JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a research report on Friday, June 27th. Finally, Zacks Research lowered JPMorgan Chase & Co. from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 8th. Thirteen equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $297.17.

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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