JPMorgan Chase & Co. $JPM Shares Sold by Trueblood Wealth Management LLC

Key Points

• Trueblood Wealth Management LLC has reduced its holdings in JPMorgan Chase & Co. by 3.5%, now owning 44,793 shares, making the bank its largest holding valued at approximately $12.99 million.
• Director Linda Bammann sold 9,500 shares of JPMorgan at an average price of $297.94, resulting in a total sale value of approximately $2.83 million.
• JPMorgan recently declared an increased quarterly dividend of $1.50, up from $1.40, representing a yield of 2.0% and a payout ratio of 30.79%.

Trueblood Wealth Management LLC trimmed its holdings in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 3.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 44,793 shares of the financial services provider's stock after selling 1,638 shares during the period. JPMorgan Chase & Co. accounts for about 5.4% of Trueblood Wealth Management LLC's holdings, making the stock its biggest holding. Trueblood Wealth Management LLC's holdings in JPMorgan Chase & Co. were worth $12,986,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of JPM. MJT & Associates Financial Advisory Group Inc. acquired a new stake in JPMorgan Chase & Co. during the first quarter worth about $28,000. University of Illinois Foundation acquired a new stake in JPMorgan Chase & Co. during the first quarter worth about $30,000. Ryan Investment Management Inc. acquired a new stake in JPMorgan Chase & Co. during the second quarter worth about $37,000. Christopher J. Hasenberg Inc increased its position in JPMorgan Chase & Co. by 212.0% during the second quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider's stock worth $45,000 after purchasing an additional 106 shares during the last quarter. Finally, Goodman Advisory Group LLC acquired a new stake in JPMorgan Chase & Co. during the first quarter worth about $76,000. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at JPMorgan Chase & Co.

In related news, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total value of $2,830,430.00. Following the completion of the transaction, the director owned 82,207 shares in the company, valued at $24,492,753.58. The trade was a 10.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.47% of the stock is owned by corporate insiders.

JPMorgan Chase & Co. Trading Down 1.9%

NYSE JPM opened at $302.11 on Wednesday. The firm has a 50 day simple moving average of $302.11 and a 200-day simple moving average of $277.61. 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 firm has a market cap of $830.72 billion, a price-to-earnings ratio of 15.50, a PEG ratio of 1.99 and a beta of 1.13.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.83 by $0.24. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The company had revenue of $46.43 billion during the quarter, compared to the consensus estimate of $44.42 billion. During the same quarter in the previous year, the firm earned $4.37 earnings per share. The firm's quarterly revenue was up 8.8% on a year-over-year basis. Equities research 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 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 is an increase from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. This represents a $6.00 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Monday, October 6th. JPMorgan Chase & Co.'s payout ratio is presently 30.79%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Keefe, Bruyette & Woods raised their price objective on shares of JPMorgan Chase & Co. from $330.00 to $354.00 and gave the stock an "outperform" rating in a research report on Friday, October 10th. Piper Sandler reiterated an "overweight" rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 15th. Bank of America lifted their price target on shares of JPMorgan Chase & Co. from $330.00 to $340.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. Morgan Stanley lifted their price target on shares of JPMorgan Chase & Co. from $298.00 to $336.00 and gave the company an "equal weight" rating in a research report on Monday, September 29th. Finally, UBS Group lifted their price target on shares of JPMorgan Chase & Co. from $339.00 to $350.00 and gave the company a "buy" rating in a research report on Tuesday, October 7th. Fifteen analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, JPMorgan Chase & Co. currently has a consensus rating of "Hold" and a consensus target price of $318.70.

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.

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