JPMorgan Chase & Co. (NYSE:JPM) is Granite Group Advisors LLC's 9th Largest Position

Key Points

• Granite Group Advisors LLC has reduced its stake in JPMorgan Chase & Co. by 10.9%, now holding about 10,302 shares valued at approximately $2.53 million, making it the 9th largest position in their portfolio.
• JPMorgan recently reported $4.96 EPS, exceeding analysts' estimates, despite a 10.5% decline in revenue compared to the previous year.
• The company declared a quarterly dividend of $1.40 per share, representing a yield of 1.88% with a payout ratio of 28.73%.

Granite Group Advisors LLC lowered its stake in JPMorgan Chase & Co. (NYSE:JPM) by 10.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,302 shares of the financial services provider's stock after selling 1,258 shares during the period. JPMorgan Chase & Co. makes up approximately 1.8% of Granite Group Advisors LLC's investment portfolio, making the stock its 9th biggest position. Granite Group Advisors LLC's holdings in JPMorgan Chase & Co. were worth $2,527,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Redwood Park Advisors LLC bought a new stake in JPMorgan Chase & Co. during the fourth quarter valued at about $29,000. Curat Global LLC bought a new stake in shares of JPMorgan Chase & Co. in the 1st quarter valued at about $33,000. Sellwood Investment Partners LLC purchased a new position in shares of JPMorgan Chase & Co. in the 4th quarter worth approximately $34,000. Investment Counsel Co. of Nevada bought a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $37,000. Finally, Prudent Man Investment Management Inc. purchased a new stake in JPMorgan Chase & Co. during the fourth quarter valued at approximately $43,000. Institutional investors own 71.55% of the company's stock.

JPMorgan Chase & Co. Price Performance

Shares of JPM opened at $298.22 on Tuesday. The business's 50-day moving average is $278.35 and its two-hundred day moving average is $260.40. The company has a market capitalization of $828.78 billion, a P/E ratio of 15.30, a P/E/G ratio of 2.01 and a beta of 1.10. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.89 and a current ratio of 0.88. JPMorgan Chase & Co. has a fifty-two week low of $190.90 and a fifty-two week high of $299.59.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, topping analysts' consensus estimates of $4.48 by $0.48. The firm 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 company's revenue was down 10.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $6.12 earnings per share. Research analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd will be issued a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend is Thursday, July 3rd. JPMorgan Chase & Co.'s payout ratio is currently 28.73%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. UBS Group increased their price objective on JPMorgan Chase & Co. from $277.00 to $305.00 and gave the company a "buy" rating in a report on Thursday, April 17th. Piper Sandler reiterated an "overweight" rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 15th. Wells Fargo & Company boosted their price target on JPMorgan Chase & Co. from $320.00 to $325.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. Evercore ISI set a $298.00 price objective on shares of JPMorgan Chase & Co. and gave the company an "outperform" rating in a report on Monday, July 7th. Finally, Phillip Securities cut shares of JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, July 16th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $288.68.

Insiders Place Their Bets

In related news, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $250.00, for a total value of $2,375,000.00. Following the sale, the director directly owned 91,539 shares in the company, valued at approximately $22,884,750. The trade was a 9.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Jennifer Piepszak sold 6,128 shares of JPMorgan Chase & Co. stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $262.47, for a total transaction of $1,608,416.16. Following the sale, the chief operating officer directly owned 62,455 shares in the company, valued at approximately $16,392,563.85. This trade represents a 8.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 71,200 shares of company stock valued at $18,060,015 over the last ninety days. 0.47% of the stock is owned by corporate insiders.

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.

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