JPMorgan Chase & Co. $JPM Shares Sold by Marks Group Wealth Management Inc

Key Points

• Marks Group Wealth Management Inc reduced its holdings in JPMorgan Chase & Co. by 26.0% in Q2, now owning 14,983 shares valued at approximately $4.34 million.
• JPMorgan Chase & Co. recently increased its quarterly dividend to $1.50 per share, up from $1.40, representing an annual yield of 2.0%.
• The company's stock rating is mixed, with 15 analysts rating it as a Buy, while 8 maintain a Hold rating, and 3 have given it a Sell rating.

Marks Group Wealth Management Inc cut its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 26.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,983 shares of the financial services provider's stock after selling 5,267 shares during the quarter. Marks Group Wealth Management Inc's holdings in JPMorgan Chase & Co. were worth $4,344,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of JPM. Brighton Jones LLC grew its holdings in shares of JPMorgan Chase & Co. by 11.0% during the fourth quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider's stock worth $11,682,000 after buying an additional 4,841 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of JPMorgan Chase & Co. by 5.8% during the first quarter. GAMMA Investing LLC now owns 96,029 shares of the financial services provider's stock worth $23,556,000 after buying an additional 5,296 shares in the last quarter. Ironwood Wealth Management LLC. grew its holdings in shares of JPMorgan Chase & Co. by 0.7% during the first quarter. Ironwood Wealth Management LLC. now owns 15,400 shares of the financial services provider's stock worth $3,778,000 after buying an additional 107 shares in the last quarter. Acorns Advisers LLC grew its holdings in shares of JPMorgan Chase & Co. by 6.9% during the first quarter. Acorns Advisers LLC now owns 1,547 shares of the financial services provider's stock worth $379,000 after buying an additional 100 shares in the last quarter. Finally, Hassell Wealth Management LLC grew its holdings in shares of JPMorgan Chase & Co. by 5.2% during the first quarter. Hassell Wealth Management LLC now owns 4,299 shares of the financial services provider's stock worth $1,009,000 after buying an additional 214 shares in the last quarter. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at JPMorgan Chase & Co.

In other news, Director Linda Bammann sold 9,500 shares of the business's 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 approximately $24,492,753.58. The trade was a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Price Performance

JPM opened at $301.12 on Monday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.25. JPMorgan Chase & Co. has a 52-week low of $202.16 and a 52-week high of $318.01. The company has a 50 day moving average of $301.61 and a two-hundred day moving average of $276.98. The company has a market cap of $828.00 billion, a P/E ratio of 15.45, a P/E/G ratio of 1.94 and a beta of 1.13.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.48 by $0.48. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The company had revenue of $44.91 billion during the quarter, compared to the consensus estimate of $43.76 billion. During the same period in the previous year, the firm earned $6.12 earnings per share. JPMorgan Chase & Co.'s revenue for the quarter was down 10.5% on a year-over-year basis. On average, analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, October 6th will be paid a dividend of $1.50 per share. This is an increase from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. This represents a $6.00 annualized dividend and a yield of 2.0%. The ex-dividend date is Monday, October 6th. JPMorgan Chase & Co.'s payout ratio is presently 30.79%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on JPM. Baird R W downgraded shares of JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a report on Friday, June 27th. Piper Sandler restated an "overweight" rating on shares of JPMorgan Chase & Co. in a report on Tuesday, July 15th. Bank of America boosted their target price on shares of JPMorgan Chase & Co. from $330.00 to $340.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. Daiwa Capital Markets boosted their target price on shares of JPMorgan Chase & Co. from $330.00 to $332.00 and gave the company an "outperform" rating in a report on Wednesday, October 8th. Finally, The Goldman Sachs Group boosted their target price on shares of JPMorgan Chase & Co. from $336.00 to $350.00 and gave the company a "buy" rating in a report on Friday, October 3rd. Fifteen research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $316.00.

About JPMorgan Chase & Co.

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.

Want to see what other hedge funds are holding JPM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for JPMorgan Chase & Co. (NYSE:JPM - Free Report).

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.