Nexus Investment Management ULC Decreases Position in JPMorgan Chase & Co. $JPM

Key Points

• Nexus Investment Management ULC reduced its stake in JPMorgan Chase & Co. by 0.6% in Q2, now holding 197,419 shares, making it the fund's second largest position.
• JPMorgan Chase recently announced a quarterly dividend increase from $1.40 to $1.50 per share, representing an annualized amount of $6.00 and a yield of 2.0%.
• The financial giant reported better-than-expected earnings per share of $5.07 for the last quarter, exceeding analysts' estimates and showing an 8.8% revenue growth year-over-year.

Nexus Investment Management ULC lowered its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.6% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 197,419 shares of the financial services provider's stock after selling 1,203 shares during the period. JPMorgan Chase & Co. comprises about 8.6% of Nexus Investment Management ULC's portfolio, making the stock its 2nd biggest position. Nexus Investment Management ULC's holdings in JPMorgan Chase & Co. were worth $57,234,000 at the end of the most recent reporting period.

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

JPMorgan Chase & Co. Trading Up 1.9%

NYSE JPM opened at $300.27 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. The company has a fifty day simple moving average of $303.43 and a two-hundred day simple moving average of $281.56. JPMorgan Chase & Co. has a 12-month low of $202.16 and a 12-month high of $318.01. The stock has a market cap 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. (NYSE:JPM - Get Free Report) last issued 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 firm had revenue of $46.43 billion during the quarter, compared to analysts' expectations of $44.42 billion. JPMorgan Chase & Co. had a net margin of 20.90% and a return on equity of 17.18%. The firm's revenue was up 8.8% compared to the same quarter last year. During the same quarter last year, the company posted $4.37 earnings per share. On average, analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current 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 paid a dividend of $1.50 per share. 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. The ex-dividend date of this dividend is Monday, October 6th. JPMorgan Chase & Co.'s payout ratio is presently 29.72%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Barclays raised their price target on JPMorgan Chase & Co. from $330.00 to $342.00 and gave the company an "overweight" rating in a research report on Wednesday, October 15th. Piper Sandler reiterated an "overweight" rating on shares of JPMorgan Chase & Co. in a report on Tuesday, July 15th. HSBC restated a "reduce" rating and issued a $259.00 price objective on shares of JPMorgan Chase & Co. in a report on Tuesday, July 8th. UBS Group boosted their price objective on shares of JPMorgan Chase & Co. from $339.00 to $350.00 and gave the company a "buy" rating in a research report on Tuesday, October 7th. Finally, Evercore ISI boosted their price target on shares of JPMorgan Chase & Co. from $309.00 to $330.00 and gave the stock an "outperform" rating in a research note on Tuesday, September 30th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $322.27.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the transaction, the director directly owned 82,207 shares of the company's stock, valued at $24,492,753.58. The trade was a 10.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.47% of the stock is owned by company 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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