Patton Fund Management Inc. Has $3.65 Million Holdings in JPMorgan Chase & Co. $JPM

Key Points

• Patton Fund Management Inc. reduced its holdings in JPMorgan Chase & Co. by 44.8% in Q2, owning 12,600 shares worth approximately $3.65 million, which represents about 2.6% of its total holdings.
• JPMorgan Chase had a record quarterly earnings of $4.96 per share, exceeding analysts' expectations, despite a 10.5% drop in revenue year-over-year.
• The company's quarterly dividend was increased to $1.50 per share, reflecting a 1.9% annual yield, and has a payout ratio of 28.73%.

Patton Fund Management Inc. decreased its stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 44.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,600 shares of the financial services provider's stock after selling 10,241 shares during the period. JPMorgan Chase & Co. accounts for about 2.6% of Patton Fund Management Inc.'s holdings, making the stock its 17th biggest holding. Patton Fund Management Inc.'s holdings in JPMorgan Chase & Co. were worth $3,653,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. MJT & Associates Financial Advisory Group Inc. bought a new stake in JPMorgan Chase & Co. during the first quarter valued at $28,000. University of Illinois Foundation bought a new stake in shares of JPMorgan Chase & Co. in the 1st quarter valued at $30,000. Ryan Investment Management Inc. acquired a new position in shares of JPMorgan Chase & Co. during the 2nd quarter valued at $37,000. Curat Global LLC acquired a new position in shares of JPMorgan Chase & Co. during the first quarter valued at about $33,000. Finally, Christopher J. Hasenberg Inc boosted its position in shares of JPMorgan Chase & Co. by 212.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider's stock worth $45,000 after purchasing an additional 106 shares in the last quarter. 71.55% of the stock is owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Stock Performance

Shares of JPM opened at $315.53 on Wednesday. JPMorgan Chase & Co. has a 1 year low of $202.16 and a 1 year high of $318.01. The stock's fifty day moving average price is $299.93 and its two-hundred day moving average price is $273.19. The firm has a market cap of $867.63 billion, a PE ratio of 16.19, a PEG ratio of 2.08 and a beta of 1.13. 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 analysts' consensus estimates of $4.48 by $0.48. The firm 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%. The company's quarterly revenue was down 10.5% on a year-over-year basis. During the same quarter last year, the business earned $6.12 earnings per share. On average, equities research analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The business 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 dividend of $1.50 per share. This is a positive change from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. 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 1.9%. JPMorgan Chase & Co.'s payout ratio is currently 28.73%.

Insider Transactions at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the firm's stock in a transaction dated 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 completion of the transaction, the director owned 82,207 shares in the company, valued at $24,492,753.58. This trade represents a 10.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.47% of the company's stock.

Wall Street Analysts Forecast Growth

JPM has been the subject of several recent research reports. Evercore ISI boosted their price objective on JPMorgan Chase & Co. from $309.00 to $330.00 and gave the company an "outperform" rating in a report on Tuesday. Baird R W cut shares of JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a research report on Friday, June 27th. Truist Financial boosted 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. HSBC restated a "reduce" rating and set a $259.00 price objective on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 8th. Finally, Bank of America upped their target price on shares of JPMorgan Chase & Co. from $330.00 to $340.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. Thirteen analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $303.45.

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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