Mitchell Capital Management Co. Sells 8,041 Shares of JPMorgan Chase & Co. $JPM

Key Points

• Mitchell Capital Management Co. reduced its stake in JPMorgan Chase & Co. by 12.1%, selling 8,041 shares and retaining 58,405 shares, which represent 3.2% of its total holdings.
• JPMorgan Chase & Co. reported earnings of $5.07 per share for the most recent quarter, exceeding analysts' expectations, with revenues reaching $46.43 billion—a year-over-year increase of 8.8%.
• The company announced a quarterly dividend increase from $1.40 to $1.50, with an annualized yield of 2.0%, payable on October 31st to stockholders of record.

Mitchell Capital Management Co. cut its stake in JPMorgan Chase & Co. (NYSE:JPM) by 12.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 58,405 shares of the financial services provider's stock after selling 8,041 shares during the quarter. JPMorgan Chase & Co. accounts for 3.2% of Mitchell Capital Management Co.'s holdings, making the stock its 8th biggest position. Mitchell Capital Management Co.'s holdings in JPMorgan Chase & Co. were worth $17,012,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. MJT & Associates Financial Advisory Group Inc. bought a new stake in shares of JPMorgan Chase & Co. in the 1st quarter valued at about $28,000. University of Illinois Foundation bought a new stake in shares of JPMorgan Chase & Co. in the 1st quarter valued at about $30,000. Ryan Investment Management Inc. bought a new stake in shares of JPMorgan Chase & Co. in the 2nd quarter valued at about $37,000. Christopher J. Hasenberg Inc increased its stake in shares of JPMorgan Chase & Co. by 212.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider's stock valued at $45,000 after acquiring an additional 106 shares during the last quarter. Finally, Goodman Advisory Group LLC bought a new stake in shares of JPMorgan Chase & Co. in the 1st quarter valued at about $76,000. 71.55% of the stock is owned by institutional investors.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, Director Linda Bammann sold 9,500 shares of the firm's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total value of $2,830,430.00. Following the sale, 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.47% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on JPM shares. Hsbc Global Res lowered JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research report on Tuesday, July 8th. Cowen reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, July 16th. Daiwa Capital Markets boosted their price objective on JPMorgan Chase & Co. from $330.00 to $332.00 and gave the company an "outperform" rating in a research report on Wednesday, October 8th. TD Cowen boosted their price objective on JPMorgan Chase & Co. from $350.00 to $370.00 and gave the company a "buy" rating in a research report on Friday, October 3rd. Finally, Truist Financial upped their price target on JPMorgan Chase & Co. from $290.00 to $319.00 and gave the stock a "hold" rating in a research report on Tuesday, September 23rd. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $322.86.

JPMorgan Chase & Co. Stock Down 1.1%

JPM stock opened at $293.83 on Thursday. The stock has a market capitalization of $807.96 billion, a price-to-earnings ratio of 14.55, a PEG ratio of 1.79 and a beta of 1.13. JPMorgan Chase & Co. has a fifty-two week low of $202.16 and a fifty-two week high of $318.01. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.86 and a quick ratio of 0.88. The business's fifty day moving average price is $303.23 and its two-hundred day moving average price is $279.98.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its earnings results on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.83 by $0.24. The company had revenue of $46.43 billion for the quarter, compared to analyst estimates of $44.42 billion. JPMorgan Chase & Co. had a return on equity of 17.18% and a net margin of 20.90%.JPMorgan Chase & Co.'s quarterly revenue was up 8.8% on a year-over-year basis. During the same period in the prior year, the firm posted $4.37 EPS. On average, equities analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current 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 paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Monday, October 6th. This is an increase from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. JPMorgan Chase & Co.'s dividend payout ratio is 29.72%.

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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