Kingsman Wealth Management Inc. Cuts Position in JPMorgan Chase & Co. $JPM

Key Points

• Kingsman Wealth Management Inc. has reduced its stake in JPMorgan Chase & Co. by 22.4% during the second quarter, now holding 4,027 shares valued at approximately $1.17 million.
• Director Linda Bammann sold 9,500 shares of JPMorgan stock, representing a 10.36% decrease in her ownership, totaling around $2.83 million from the sale.
• JPMorgan Chase is set to increase its quarterly dividend from $1.40 to $1.50, reflecting an annualized payout of 1.9% yield, effective for investors of record by October 6th.

Kingsman Wealth Management Inc. lessened its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 22.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,027 shares of the financial services provider's stock after selling 1,165 shares during the period. JPMorgan Chase & Co. comprises about 0.7% of Kingsman Wealth Management Inc.'s portfolio, making the stock its 22nd largest holding. Kingsman Wealth Management Inc.'s holdings in JPMorgan Chase & Co. were worth $1,168,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Colton Groome Financial Advisors LLC increased its stake in shares of JPMorgan Chase & Co. by 1.9% in the 2nd quarter. Colton Groome Financial Advisors LLC now owns 5,603 shares of the financial services provider's stock valued at $1,624,000 after purchasing an additional 107 shares in the last quarter. Maridea Wealth Management LLC purchased a new position in shares of JPMorgan Chase & Co. in the 2nd quarter valued at about $1,247,000. Magnus Financial Group LLC increased its stake in shares of JPMorgan Chase & Co. by 1.0% in the 2nd quarter. Magnus Financial Group LLC now owns 55,353 shares of the financial services provider's stock valued at $16,047,000 after purchasing an additional 542 shares in the last quarter. Littlejohn Financial Services Inc. purchased a new position in shares of JPMorgan Chase & Co. in the 2nd quarter valued at about $238,000. Finally, TigerOak Management L.L.C. increased its stake in shares of JPMorgan Chase & Co. by 4.5% in the 2nd quarter. TigerOak Management L.L.C. now owns 22,591 shares of the financial services provider's stock valued at $6,549,000 after purchasing an additional 963 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company's stock.

Insider Buying and Selling

In related news, Director Linda Bammann sold 9,500 shares of the company's stock in a transaction that occurred 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 represents a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.47% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Robert W. Baird cut JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 price objective on the stock. in a report on Friday, June 27th. TD Securities reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, June 4th. Piper Sandler reiterated an "overweight" rating on shares of JPMorgan Chase & Co. in a report on Tuesday, July 15th. Wells Fargo & Company lifted their price objective on JPMorgan Chase & Co. from $325.00 to $345.00 and gave the stock an "overweight" rating in a report on Tuesday, September 16th. Finally, Truist Financial lifted their price objective on JPMorgan Chase & Co. from $290.00 to $319.00 and gave the stock a "hold" rating in a report on Tuesday, September 23rd. Thirteen equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $297.17.

JPMorgan Chase & Co. Trading Up 0.9%

Shares of JPMorgan Chase & Co. stock opened at $316.12 on Monday. The stock has a market cap of $869.25 billion, a P/E ratio of 16.22, a P/E/G ratio of 2.08 and a beta of 1.13. The stock's 50 day simple moving average is $298.96 and its 200-day simple moving average is $272.32. JPMorgan Chase & Co. has a 1-year low of $202.16 and a 1-year high of $317.81. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.88.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share for the quarter, topping the consensus estimate of $4.48 by $0.48. The business had revenue of $44.91 billion for the quarter, compared to analysts' expectations 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 for the quarter was down 10.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $6.12 EPS. 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 disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, October 6th will be issued a $1.50 dividend. This is a boost 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 1.9%. The ex-dividend date is Monday, October 6th. JPMorgan Chase & Co.'s payout ratio is currently 28.73%.

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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