JPMorgan Chase & Co. $JPM Shares Sold by Seascape Capital Management

Key Points

• Seascape Capital Management has reduced its holdings in JPMorgan Chase & Co. by 4.1%, now owning 21,676 shares valued at approximately $6.28 million.
• JPMorgan Chase & Co. declared a quarterly dividend of $1.50, up from a previous $1.40, with a dividend yield of 1.9%.
• JPMorgan Chase reported earnings of $4.96 per share for the last quarter, exceeding analyst expectations, although revenue decreased by 10.5% year-over-year.

Seascape Capital Management reduced its holdings in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 4.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,676 shares of the financial services provider's stock after selling 922 shares during the quarter. JPMorgan Chase & Co. makes up 2.0% of Seascape Capital Management's portfolio, making the stock its 9th biggest holding. Seascape Capital Management's holdings in JPMorgan Chase & Co. were worth $6,284,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in JPM. Kingstone Capital Partners Texas LLC grew its position in JPMorgan Chase & Co. by 609,867.5% during the second quarter. Kingstone Capital Partners Texas LLC now owns 72,897,211 shares of the financial services provider's stock valued at $21,133,630,000 after acquiring an additional 72,885,260 shares during the period. Bank of New York Mellon Corp grew its position in JPMorgan Chase & Co. by 1.9% during the first quarter. Bank of New York Mellon Corp now owns 24,801,153 shares of the financial services provider's stock valued at $6,083,723,000 after acquiring an additional 454,226 shares during the period. GAMMA Investing LLC grew its position in JPMorgan Chase & Co. by 25,861.9% during the first quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider's stock valued at $5,778,289,000 after acquiring an additional 23,465,278 shares during the period. Goldman Sachs Group Inc. grew its position in JPMorgan Chase & Co. by 2.7% during the first quarter. Goldman Sachs Group Inc. now owns 20,548,182 shares of the financial services provider's stock valued at $5,040,469,000 after acquiring an additional 548,853 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in JPMorgan Chase & Co. by 5.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 18,441,044 shares of the financial services provider's stock valued at $4,523,588,000 after acquiring an additional 890,553 shares during the period. 71.55% of the stock is currently owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Price Performance

Shares of NYSE JPM opened at $313.42 on Thursday. JPMorgan Chase & Co. has a 1-year low of $202.16 and a 1-year high of $316.58. The business has a 50-day moving average of $297.99 and a 200-day moving average of $270.52. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.88. The company has a market capitalization of $861.82 billion, a price-to-earnings ratio of 16.08, a PEG ratio of 2.06 and a beta of 1.13.

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 for the quarter, topping 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 the consensus estimate of $43.76 billion. During the same quarter in the prior year, the business earned $6.12 earnings per share. The company's revenue was down 10.5% compared to the same quarter last year. On average, equities analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, October 6th will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 1.9%. This is a positive change from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. The ex-dividend date is Monday, October 6th. JPMorgan Chase & Co.'s payout ratio is presently 28.73%.

Insider Activity at JPMorgan Chase & Co.

In related news, Director Linda Bammann sold 9,500 shares of the business's stock in a transaction dated 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 owned 82,207 shares in the company, 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 legal filing with the SEC, which can be accessed through this link. Company insiders own 0.47% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Baird R W downgraded JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a research report on Friday, June 27th. Citigroup boosted their price target on JPMorgan Chase & Co. from $275.00 to $325.00 and gave the company a "neutral" rating in a research report on Wednesday. Cowen reissued a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, July 16th. Piper Sandler reaffirmed an "overweight" rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 15th. Finally, Robert W. Baird downgraded JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 target price for the company. in a research report on Friday, June 27th. Thirteen analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $297.17.

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.