Ninety One SA PTY Ltd Lowers Stake in JPMorgan Chase & Co. $JPM

Key Points

• Ninety One SA PTY Ltd reduced its stake in JPMorgan Chase & Co. by 61.4%, owning 39,551 shares after selling 62,956 shares in the second quarter.
• The recent average target price for JPMorgan Chase & Co. shares is $309.95, with varying ratings from multiple analysts, including a "hold" and "strong sell".
• JPMorgan Chase & Co. declared an increased quarterly dividend of $1.50 per share, up from the previous $1.40, reflecting a positive change in its dividend policy.

Ninety One SA PTY Ltd reduced its stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 61.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 39,551 shares of the financial services provider's stock after selling 62,956 shares during the quarter. JPMorgan Chase & Co. makes up approximately 1.9% of Ninety One SA PTY Ltd's investment portfolio, making the stock its 16th largest position. Ninety One SA PTY Ltd's holdings in JPMorgan Chase & Co. were worth $11,469,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in JPM. Brighton Jones LLC increased its position in JPMorgan Chase & Co. by 11.0% during the 4th quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider's stock valued at $11,682,000 after purchasing an additional 4,841 shares during the period. McDonough Capital Management Inc increased its position in JPMorgan Chase & Co. by 6.6% during the 1st quarter. McDonough Capital Management Inc now owns 4,354 shares of the financial services provider's stock valued at $1,068,000 after purchasing an additional 271 shares during the period. Centricity Wealth Management LLC increased its position in JPMorgan Chase & Co. by 3.4% during the 1st quarter. Centricity Wealth Management LLC now owns 3,099 shares of the financial services provider's stock valued at $760,000 after purchasing an additional 101 shares during the period. Baldwin Wealth Partners LLC MA increased its position in JPMorgan Chase & Co. by 0.3% during the 1st quarter. Baldwin Wealth Partners LLC MA now owns 94,046 shares of the financial services provider's stock valued at $23,070,000 after purchasing an additional 241 shares during the period. Finally, Greystone Financial Group LLC increased its position in JPMorgan Chase & Co. by 1.4% during the 1st quarter. Greystone Financial Group LLC now owns 60,166 shares of the financial services provider's stock valued at $14,759,000 after purchasing an additional 859 shares during the period. 71.55% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on JPM shares. Deutsche Bank Aktiengesellschaft raised their target price on shares of JPMorgan Chase & Co. from $300.00 to $320.00 and gave the company a "hold" rating in a research report on Tuesday, September 30th. Truist Financial boosted their target price on shares of JPMorgan Chase & Co. from $290.00 to $319.00 and gave the stock a "hold" rating in a report on Tuesday, September 23rd. Hsbc Global Res downgraded shares of JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a report on Tuesday, July 8th. Weiss Ratings reiterated a "buy (b+)" rating on shares of JPMorgan Chase & Co. in a report on Saturday, September 27th. Finally, Baird R W downgraded shares of JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a report on Friday, June 27th. 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. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $309.95.

Insiders Place Their Bets

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 stock was sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the completion of the transaction, the director 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 filing with the SEC, which is accessible through this link. Corporate insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Trading Down 0.5%

JPMorgan Chase & Co. stock opened at $307.61 on Wednesday. The stock has a 50-day moving average price of $301.10 and a 200 day moving average price of $275.67. The company has a market capitalization of $845.85 billion, a price-to-earnings ratio of 15.78, a price-to-earnings-growth ratio of 2.03 and a beta of 1.13. JPMorgan Chase & Co. has a 52 week low of $202.16 and a 52 week high of $318.01. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.25.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.48 by $0.48. The company had revenue of $44.91 billion during the quarter, compared to analyst estimates of $43.76 billion. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. JPMorgan Chase & Co.'s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same period last year, the firm posted $6.12 EPS. Sell-side analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, October 6th will be issued a $1.50 dividend. The ex-dividend date of this dividend is Monday, October 6th. This is a positive change from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. This represents a $6.00 annualized dividend and a yield of 2.0%. JPMorgan Chase & Co.'s dividend payout ratio is currently 30.79%.

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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