Mutual Advisors LLC Trims Stock Holdings in JPMorgan Chase & Co. $JPM

Key Points

• Mutual Advisors LLC has reduced its stake in JPMorgan Chase & Co. by 0.9%, now holding 95,090 shares worth approximately $28.4 million, making it the 18th largest holding in its portfolio.
• JPMorgan Chase recently reported a quarterly earnings of $5.07 EPS, exceeding analysts' estimates, with revenues of $46.43 billion, an increase of 8.8% year-over-year.
• The company plans to distribute a quarterly dividend of $1.50 per share, up from $1.40, scheduled for payment on October 31st, reflecting a healthy 2.0% yield for shareholders.

Mutual Advisors LLC reduced its stake in JPMorgan Chase & Co. (NYSE:JPM) by 0.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 95,090 shares of the financial services provider's stock after selling 845 shares during the quarter. JPMorgan Chase & Co. comprises approximately 0.7% of Mutual Advisors LLC's portfolio, making the stock its 18th biggest holding. Mutual Advisors LLC's holdings in JPMorgan Chase & Co. were worth $28,396,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Tuttle Capital Management LLC lifted its position in shares of JPMorgan Chase & Co. by 14.9% in the second quarter. Tuttle Capital Management LLC now owns 2,594 shares of the financial services provider's stock valued at $752,000 after acquiring an additional 336 shares in the last quarter. Ritholtz Wealth Management lifted its position in shares of JPMorgan Chase & Co. by 10.5% in the second quarter. Ritholtz Wealth Management now owns 87,187 shares of the financial services provider's stock valued at $25,276,000 after acquiring an additional 8,256 shares in the last quarter. SFG Wealth Management LLC. lifted its position in shares of JPMorgan Chase & Co. by 6.1% in the second quarter. SFG Wealth Management LLC. now owns 2,296 shares of the financial services provider's stock valued at $666,000 after acquiring an additional 131 shares in the last quarter. Triton Wealth Management PLLC acquired a new position in JPMorgan Chase & Co. in the second quarter valued at $407,000. Finally, Harbour Investments Inc. increased its stake in JPMorgan Chase & Co. by 4.0% in the second quarter. Harbour Investments Inc. now owns 37,909 shares of the financial services provider's stock valued at $10,990,000 after purchasing an additional 1,464 shares during the last quarter. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Trading Up 1.9%

Shares of JPM opened at $300.27 on Friday. The company has a market capitalization of $825.66 billion, a P/E ratio of 14.87, a P/E/G ratio of 1.81 and a beta of 1.13. JPMorgan Chase & Co. has a one year low of $202.16 and a one year high of $318.01. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.86. The stock has a 50-day moving average price of $303.43 and a 200 day moving average price of $281.56.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $5.07 EPS for the quarter, beating analysts' consensus estimates of $4.83 by $0.24. The firm had revenue of $46.43 billion during the quarter, compared to the consensus estimate 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 revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $4.37 earnings per share. Sell-side analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, October 6th will be issued a dividend of $1.50 per share. The ex-dividend date of this dividend is Monday, October 6th. This represents a $6.00 dividend on an annualized basis and a 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 29.72%.

Insider Buying and Selling

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 stock was sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the transaction, the director 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.47% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on JPM shares. The Goldman Sachs Group reiterated a "buy" rating and issued a $366.00 target price on shares of JPMorgan Chase & Co. in a research note on Tuesday, October 14th. Piper Sandler restated an "overweight" rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 15th. Weiss Ratings upgraded JPMorgan Chase & Co. from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Saturday. Deutsche Bank Aktiengesellschaft increased their target price on JPMorgan Chase & Co. from $300.00 to $320.00 and gave the company a "hold" rating in a research note on Tuesday, September 30th. Finally, KGI Securities increased their target price on JPMorgan Chase & Co. from $300.00 to $315.00 and gave the company a "hold" rating in a research note on Wednesday, October 15th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $322.27.

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.

Want to see what other hedge funds are holding JPM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for JPMorgan Chase & Co. (NYSE:JPM - Free Report).

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.