Keudell Morrison Wealth Management Sells 941 Shares of JPMorgan Chase & Co. $JPM

Key Points

• Keudell Morrison Wealth Management has reduced its holdings in JPMorgan Chase & Co. by 9.0% during the second quarter, selling 941 shares, bringing their total to 9,484 shares valued at approximately $2.75 million.
• The company recently declared a $1.50 quarterly dividend, up from $1.40, offering an annualized yield of 2.0%.
• JPMorgan Chase & Co. reported earnings per share of $4.96 for the last quarter, surpassing analysts' expectations and generating $44.91 billion in revenue, although down 10.5% year over year.

Keudell Morrison Wealth Management reduced its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 9.0% in the second quarter, according to its most recent filing with the SEC. The fund owned 9,484 shares of the financial services provider's stock after selling 941 shares during the period. Keudell Morrison Wealth Management's holdings in JPMorgan Chase & Co. were worth $2,749,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Global Strategic Investment Solutions LLC lifted its stake in shares of JPMorgan Chase & Co. by 3.3% during the 2nd quarter. Global Strategic Investment Solutions LLC now owns 2,703 shares of the financial services provider's stock worth $784,000 after acquiring an additional 86 shares during the last quarter. IVC Wealth Advisors LLC lifted its stake in shares of JPMorgan Chase & Co. by 1.6% during the 2nd quarter. IVC Wealth Advisors LLC now owns 3,327 shares of the financial services provider's stock worth $965,000 after acquiring an additional 53 shares during the last quarter. Beacon Financial Advisory LLC lifted its stake in shares of JPMorgan Chase & Co. by 33.0% during the 2nd quarter. Beacon Financial Advisory LLC now owns 13,147 shares of the financial services provider's stock worth $3,811,000 after acquiring an additional 3,260 shares during the last quarter. Alta Wealth Advisors LLC lifted its stake in shares of JPMorgan Chase & Co. by 0.9% during the 2nd quarter. Alta Wealth Advisors LLC now owns 13,622 shares of the financial services provider's stock worth $3,949,000 after acquiring an additional 120 shares during the last quarter. Finally, Gemmer Asset Management LLC lifted its stake in shares of JPMorgan Chase & Co. by 5.6% during the 2nd quarter. Gemmer Asset Management LLC now owns 4,533 shares of the financial services provider's stock worth $1,314,000 after acquiring an additional 241 shares during the last quarter. 71.55% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction on 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 directly owned 82,207 shares in the company, valued at approximately $24,492,753.58. This trade represents a 10.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Trading Down 1.4%

Shares of NYSE:JPM opened at $301.12 on Monday. JPMorgan Chase & Co. has a 12-month low of $202.16 and a 12-month high of $318.01. The business's fifty day simple moving average is $301.61 and its 200-day simple moving average is $276.98. The company has a market capitalization of $828.00 billion, a PE ratio of 15.45, a P/E/G ratio of 1.94 and a beta of 1.13. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.25.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its quarterly 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. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.The business had revenue of $44.91 billion for the quarter, compared to the consensus estimate of $43.76 billion. During the same period last year, the business posted $6.12 EPS. The business's revenue was down 10.5% compared to the same quarter last year. As a group, equities research analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, October 6th will be issued a $1.50 dividend. The ex-dividend date is Monday, October 6th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.0%. This is a boost from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is 30.79%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on JPM. Baird R W lowered JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a research note on Friday, June 27th. Evercore ISI lifted their target price on JPMorgan Chase & Co. from $309.00 to $330.00 and gave the company an "outperform" rating in a research report on Tuesday, September 30th. Morgan Stanley lifted their target price on 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. Truist Financial lifted their target price on JPMorgan Chase & Co. from $290.00 to $319.00 and gave the company a "hold" rating in a research report on Tuesday, September 23rd. Finally, Wells Fargo & Company lifted their target price on JPMorgan Chase & Co. from $325.00 to $345.00 and gave the company an "overweight" rating in a research report on Tuesday, September 16th. Fifteen investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $316.00.

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.

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.