JPMorgan Chase & Co. $JPM Stock Position Decreased by Claris Advisors LLC MO

Key Points

• Claris Advisors LLC has reduced its stake in JPMorgan Chase & Co. by 53.7%, leaving it with 1,129 shares worth approximately $327,000 as of the end of the second quarter.
• JPMorgan Chase & Co. announced a quarterly dividend increase from $1.40 to $1.50 per share, with shareholders set to receive this payment on October 31st.
• Goldman Sachs raised its price target for JPMorgan Chase & Co. from $336 to $350 and maintained a "buy" rating on the stock, while other analysts have varied ratings and targets.

Claris Advisors LLC MO lessened its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 53.7% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,129 shares of the financial services provider's stock after selling 1,311 shares during the period. Claris Advisors LLC MO's holdings in JPMorgan Chase & Co. were worth $327,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of JPM. Kingstone Capital Partners Texas LLC lifted its stake in shares of JPMorgan Chase & Co. by 609,867.5% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 72,897,211 shares of the financial services provider's stock worth $21,133,630,000 after acquiring an additional 72,885,260 shares during the period. Nuveen LLC acquired a new position in JPMorgan Chase & Co. in the 1st quarter valued at approximately $3,972,807,000. National Bank of Canada FI grew its position in JPMorgan Chase & Co. by 44.4% in the first quarter. National Bank of Canada FI now owns 4,518,740 shares of the financial services provider's stock worth $1,108,415,000 after acquiring an additional 1,388,992 shares in the last quarter. Strs Ohio bought a new stake in JPMorgan Chase & Co. in the first quarter worth approximately $279,389,000. Finally, Alecta Tjanstepension Omsesidigt bought a new stake in shares of JPMorgan Chase & Co. during the 1st quarter worth $278,493,000. 71.55% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other JPMorgan Chase & Co. 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 transaction of $2,830,430.00. Following the completion of the transaction, the director 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Trading Up 0.8%

Shares of JPMorgan Chase & Co. stock opened at $309.89 on Friday. The firm has a 50-day moving average of $300.67 and a 200-day moving average of $274.72. The stock has a market cap of $852.11 billion, a PE ratio of 15.90, a PEG ratio of 2.04 and a beta of 1.13. JPMorgan Chase & Co. has a 52-week low of $202.16 and a 52-week high of $318.01. 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. (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 analysts' consensus estimates of $4.48 by $0.48. The company had revenue of $44.91 billion during the quarter, compared to analysts' expectations of $43.76 billion. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. JPMorgan Chase & Co.'s quarterly revenue was down 10.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $6.12 earnings per share. As a group, sell-side analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Monday, October 6th. This is a positive change from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. This represents a $6.00 annualized dividend and a yield of 1.9%. JPMorgan Chase & Co.'s payout ratio is presently 28.73%.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. The Goldman Sachs Group increased their price objective on shares of JPMorgan Chase & Co. from $336.00 to $350.00 and gave the company a "buy" rating in a research note on Friday. Phillip Securities lowered shares of JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a report on Wednesday, July 16th. Citigroup raised their target price on shares of JPMorgan Chase & Co. from $275.00 to $325.00 and gave the company a "neutral" rating in a research note on Wednesday, September 24th. Morgan Stanley lifted their price objective on shares of JPMorgan Chase & Co. from $298.00 to $336.00 and gave the stock an "equal weight" rating in a research note on Monday, September 29th. Finally, Truist Financial raised their target price on shares of JPMorgan Chase & Co. from $290.00 to $319.00 and gave the stock a "hold" rating in a report on Tuesday, September 23rd. Fifteen research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, JPMorgan Chase & Co. presently has an average rating of "Hold" and a consensus price target of $307.70.

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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