JPMorgan Chase & Co. $JPM Stock Position Lessened by Hoey Investments Inc.

Key Points

• Hoey Investments Inc. has reduced its stake in JPMorgan Chase & Co. by 8.6% during the second quarter, now holding 30,331 shares valued at approximately $8.79 million.
• JPMorgan recently announced a quarterly dividend of $1.50 per share, an increase from its previous dividend, reflecting a 1.9% yield.
• The company reported Q2 earnings of $4.96 EPS, exceeding estimates, but its revenue decreased 10.5% year-over-year.

Hoey Investments Inc. cut its stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 8.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 30,331 shares of the financial services provider's stock after selling 2,847 shares during the quarter. JPMorgan Chase & Co. accounts for about 1.3% of Hoey Investments Inc.'s investment portfolio, making the stock its 9th largest holding. Hoey Investments Inc.'s holdings in JPMorgan Chase & Co. were worth $8,793,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in JPM. Brighton Jones LLC boosted its stake in shares of JPMorgan Chase & Co. by 11.0% in the 4th 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 during the last quarter. Copia Wealth Management purchased a new stake in JPMorgan Chase & Co. during the fourth quarter valued at $80,000. Mascagni Wealth Management Inc. bought a new position in JPMorgan Chase & Co. in the fourth quarter valued at about $81,000. Fire Capital Management LLC bought a new position in JPMorgan Chase & Co. in the fourth quarter valued at about $4,823,000. Finally, Higgins & Schmidt Wealth Strategies LLC purchased a new position in JPMorgan Chase & Co. in the fourth quarter worth about $217,000. Institutional investors own 71.55% of the company's stock.

JPMorgan Chase & Co. Trading Up 0.0%

Shares of JPM stock opened at $313.48 on Friday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.88 and a current ratio of 0.88. The stock has a fifty day simple moving average of $298.46 and a two-hundred day simple moving average of $271.08. The firm has a market capitalization of $862.00 billion, a PE ratio of 16.08, a PEG ratio of 2.06 and a beta of 1.13. JPMorgan Chase & Co. has a 52-week low of $202.16 and a 52-week high of $316.58.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, beating the consensus estimate of $4.48 by $0.48. The business had revenue of $44.91 billion for the quarter, compared to the consensus estimate of $43.76 billion. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.The business's revenue was down 10.5% on a year-over-year basis. During the same period in the previous year, the business earned $6.12 earnings per share. On average, analysts predict 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. Shareholders of record on Monday, October 6th will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 1.9%. The ex-dividend date is Monday, October 6th. This is a positive change from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. JPMorgan Chase & Co.'s dividend payout ratio is currently 28.73%.

Insider Transactions at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the stock in a transaction that occurred 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 completion of the sale, the director directly owned 82,207 shares of the company's stock, valued at $24,492,753.58. This trade represents a 10.36% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.47% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on JPM. Cowen reaffirmed a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, July 16th. Piper Sandler restated an "overweight" rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 15th. Phillip Securities cut shares of JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a report on Wednesday, July 16th. Zacks Research cut shares of JPMorgan Chase & Co. from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 8th. Finally, TD Securities restated a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, June 4th. Thirteen 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 stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target 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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