Perpetual Ltd Decreases Position in JPMorgan Chase & Co. $JPM

Key Points

• Perpetual Ltd reduced its stake in JPMorgan Chase & Co. by 33.7% to a position valued at $2.33 million, following a sale of 4,083 shares in the second quarter.
• JPMorgan Chase & Co. reported a quarterly earnings per share of $4.96, surpassing analysts' expectations, although revenue was down 10.5% year-over-year at $44.91 billion.
• The bank declared a quarterly dividend increase to $1.50, up from $1.40, with a current dividend yield of 1.9% as of the ex-dividend date of October 6th.

Perpetual Ltd decreased its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 33.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,047 shares of the financial services provider's stock after selling 4,083 shares during the period. Perpetual Ltd's holdings in JPMorgan Chase & Co. were worth $2,333,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in JPM. MJT & Associates Financial Advisory Group Inc. bought a new stake in JPMorgan Chase & Co. during the first quarter valued at about $28,000. University of Illinois Foundation purchased a new position in shares of JPMorgan Chase & Co. in the first quarter valued at about $30,000. Curat Global LLC purchased a new position in shares of JPMorgan Chase & Co. in the first quarter valued at about $33,000. Ryan Investment Management Inc. purchased a new position in shares of JPMorgan Chase & Co. in the second quarter valued at about $37,000. Finally, Christopher J. Hasenberg Inc lifted its position 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 valued at $45,000 after acquiring an additional 106 shares in the last quarter. Institutional investors own 71.55% of the company's stock.

Insider Transactions at JPMorgan Chase & Co.

In related 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 value 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 represents 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 available through the SEC website. 0.47% of the stock is currently owned by company insiders.

Analyst Ratings Changes

JPM has been the topic of several research analyst reports. Hsbc Global Res downgraded JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research report on Tuesday, July 8th. Truist Financial boosted their price objective on JPMorgan Chase & Co. from $280.00 to $290.00 and gave the company a "hold" rating in a research report on Wednesday, July 9th. Morgan Stanley boosted their price objective on JPMorgan Chase & Co. from $296.00 to $298.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 16th. Citigroup set a $275.00 target price on JPMorgan Chase & Co. and gave the stock a "buy" rating in a research report on Monday, July 7th. Finally, Bank of America boosted their target price on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $292.78.

JPMorgan Chase & Co. Trading Down 0.7%

Shares of JPM traded down $2.23 during mid-day trading on Monday, reaching $312.55. 7,508,137 shares of the company's stock traded hands, compared to its average volume of 7,917,725. The stock has a market cap of $859.42 billion, a P/E ratio of 16.04, a P/E/G ratio of 2.09 and a beta of 1.13. The stock's 50-day moving average is $296.43 and its two-hundred day moving average is $269.43. JPMorgan Chase & Co. has a 12 month low of $202.16 and a 12 month high of $315.80. 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 released its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, beating analysts' consensus estimates of $4.48 by $0.48. The firm had revenue of $44.91 billion for the quarter, compared to analysts' expectations of $43.76 billion. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.The company's quarterly revenue was down 10.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $6.12 earnings per share. Research analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, October 6th will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 1.9%. This is an increase 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 currently 28.73%.

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.