RMR Capital Management LLC Sells 3,002 Shares of JPMorgan Chase & Co. $JPM

Key Points

• RMR Capital Management LLC reduced its stake in JPMorgan Chase & Co. by 34.6%, owning 5,677 shares worth approximately $1.65 million, marking it as the 23rd biggest holding in their portfolio.
• JPMorgan Chase & Co. reported quarterly earnings of $5.07 EPS, surpassing expectations, with revenue of $46.43 billion, an 8.8% increase from the previous year.
• The company announced a dividend increase to $1.50 per share, up from $1.40, with the new dividend yield at 2.0%, reflecting a payout ratio of 29.72%.

RMR Capital Management LLC lessened its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 34.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,677 shares of the financial services provider's stock after selling 3,002 shares during the period. JPMorgan Chase & Co. comprises approximately 1.2% of RMR Capital Management LLC's investment portfolio, making the stock its 23rd biggest holding. RMR Capital Management LLC's holdings in JPMorgan Chase & Co. were worth $1,646,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Florida Financial Advisors LLC raised its stake in shares of JPMorgan Chase & Co. by 62.5% during the first quarter. Florida Financial Advisors LLC now owns 9,863 shares of the financial services provider's stock valued at $2,416,000 after acquiring an additional 3,792 shares in the last quarter. Crown Wealth Group LLC raised its stake in shares of JPMorgan Chase & Co. by 5.4% during the first quarter. Crown Wealth Group LLC now owns 4,320 shares of the financial services provider's stock valued at $1,060,000 after acquiring an additional 222 shares in the last quarter. Mosaic Financial Group LLC raised its stake in shares of JPMorgan Chase & Co. by 0.8% during the first quarter. Mosaic Financial Group LLC now owns 9,296 shares of the financial services provider's stock valued at $2,280,000 after acquiring an additional 78 shares in the last quarter. Morse Asset Management Inc raised its stake in shares of JPMorgan Chase & Co. by 19.5% during the first quarter. Morse Asset Management Inc now owns 2,569 shares of the financial services provider's stock valued at $630,000 after acquiring an additional 420 shares in the last quarter. Finally, Hidden Cove Wealth Management LLC raised its stake in shares of JPMorgan Chase & Co. by 4.2% during the first quarter. Hidden Cove Wealth Management LLC now owns 2,758 shares of the financial services provider's stock valued at $677,000 after acquiring an additional 112 shares in the last quarter. Institutional investors own 71.55% of the company's stock.

Insider Activity at JPMorgan Chase & Co.

In other news, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction on 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 completion of the sale, the director directly owned 82,207 shares in the company, valued at approximately $24,492,753.58. The trade was a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Price Performance

NYSE JPM opened at $300.27 on Friday. The firm's fifty day simple moving average is $303.43 and its two-hundred day simple moving average is $281.56. The company has a current ratio of 0.86, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. JPMorgan Chase & Co. has a 12-month low of $202.16 and a 12-month high of $318.01. The firm has a market capitalization 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 posted its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $5.07 EPS for the quarter, topping the consensus estimate of $4.83 by $0.24. JPMorgan Chase & Co. had a net margin of 20.90% and a return on equity of 17.18%. The business had revenue of $46.43 billion during the quarter, compared to the consensus estimate of $44.42 billion. During the same period in the previous year, the firm posted $4.37 earnings per share. The business's revenue for the quarter was up 8.8% compared to the same quarter last year. Analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, October 6th will be paid a dividend of $1.50 per share. The ex-dividend date is Monday, October 6th. This is an increase from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. This represents a $6.00 annualized dividend and a dividend yield of 2.0%. JPMorgan Chase & Co.'s payout ratio is presently 29.72%.

Wall Street Analyst Weigh In

JPM has been the subject of several research analyst reports. KGI Securities lifted their price target on shares of JPMorgan Chase & Co. from $300.00 to $315.00 and gave the company a "hold" rating in a research note on Wednesday, October 15th. HSBC reissued a "reduce" rating and set a $259.00 price objective on shares of JPMorgan Chase & Co. in a report on Tuesday, July 8th. Barclays lifted their price objective on shares of JPMorgan Chase & Co. from $330.00 to $342.00 and gave the company an "overweight" rating in a report on Wednesday, October 15th. Truist Financial lifted their price objective on shares of JPMorgan Chase & Co. from $290.00 to $319.00 and gave the company a "hold" rating in a report on Tuesday, September 23rd. Finally, Evercore ISI lifted their price objective on shares of JPMorgan Chase & Co. from $309.00 to $330.00 and gave the company an "outperform" rating in a report on Tuesday, September 30th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $322.27.

JPMorgan Chase & Co. 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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