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Polaris Capital Management LLC Trims Holdings in JPMorgan Chase & Co. $JPM

JPMorgan Chase & Co. logo with Finance background

Key Points

  • Polaris Capital Management LLC has reduced its stake in JPMorgan Chase & Co. by 6.3%, owning a total of 150,744 shares valued at approximately $43.7 million.
  • The quarterly dividend has increased from $1.40 to $1.50 per share, resulting in an annualized dividend yield of 2.0%.
  • Analysts have generally rated JPMorgan Chase with a mix of ratings, including 14 "Buy", 8 "Hold", and 3 "Sell", with a new average target price of $313.89.
  • Five stocks to consider instead of JPMorgan Chase & Co..

Polaris Capital Management LLC reduced its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 6.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 150,744 shares of the financial services provider's stock after selling 10,200 shares during the quarter. JPMorgan Chase & Co. comprises about 2.9% of Polaris Capital Management LLC's investment portfolio, making the stock its 8th biggest position. Polaris Capital Management LLC's holdings in JPMorgan Chase & Co. were worth $43,702,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. Consilium Wealth Advisory LLC increased its stake in JPMorgan Chase & Co. by 0.4% during the second quarter. Consilium Wealth Advisory LLC now owns 10,960 shares of the financial services provider's stock worth $3,177,000 after acquiring an additional 40 shares during the last quarter. New Century Financial Group LLC increased its stake in JPMorgan Chase & Co. by 16.7% during the second quarter. New Century Financial Group LLC now owns 1,796 shares of the financial services provider's stock worth $521,000 after acquiring an additional 257 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its stake in JPMorgan Chase & Co. by 11.2% during the second quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 68,405 shares of the financial services provider's stock worth $19,831,000 after acquiring an additional 6,876 shares during the last quarter. Gray Private Wealth LLC bought a new stake in JPMorgan Chase & Co. during the second quarter worth approximately $209,000. Finally, Custos Family Office LLC increased its stake in JPMorgan Chase & Co. by 17.2% during the second quarter. Custos Family Office LLC now owns 1,608 shares of the financial services provider's stock worth $466,000 after acquiring an additional 236 shares during the last quarter. 71.55% of the stock is owned by institutional investors.

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

Several brokerages have weighed in on JPM. Cowen reissued a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, July 16th. UBS Group upped their target price on JPMorgan Chase & Co. from $339.00 to $350.00 and gave the company a "buy" rating in a research note on Tuesday. Citigroup upped their target price on JPMorgan Chase & Co. from $275.00 to $325.00 and gave the company a "neutral" rating in a research note on Wednesday, September 24th. Truist Financial upped their target price on JPMorgan Chase & Co. from $290.00 to $319.00 and gave the company a "hold" rating in a research note on Tuesday, September 23rd. Finally, Bank of America upped their target price on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Fourteen analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $313.89.

Get Our Latest Research Report on JPMorgan Chase & Co.

JPMorgan Chase & Co. Stock Up 0.4%

Shares of NYSE:JPM opened at $305.35 on Friday. JPMorgan Chase & Co. has a 52-week low of $202.16 and a 52-week high of $318.01. The stock has a market cap of $839.64 billion, a P/E ratio of 15.67, a price-to-earnings-growth ratio of 1.96 and a beta of 1.13. The business's 50 day moving average is $301.37 and its 200 day moving average is $276.26. 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 announced its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.48 by $0.48. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.The company had revenue of $44.91 billion for the quarter, compared to analysts' expectations of $43.76 billion. During the same quarter in the prior year, the firm earned $6.12 earnings per share. JPMorgan Chase & Co.'s revenue was down 10.5% compared to the same quarter last year. Sell-side analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current 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 2.0%. 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 30.79%.

JPMorgan Chase & Co. Company Profile

(Free Report)

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.

Further Reading

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).

Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

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.

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