State of Alaska Department of Revenue Reduces Position in JPMorgan Chase & Co. $JPM

State of Alaska Department of Revenue trimmed its position in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 4.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 312,506 shares of the financial services provider's stock after selling 14,991 shares during the period. JPMorgan Chase & Co. accounts for 1.0% of State of Alaska Department of Revenue's portfolio, making the stock its 11th largest holding. State of Alaska Department of Revenue's holdings in JPMorgan Chase & Co. were worth $90,598,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Florida Financial Advisors LLC raised its position in shares of JPMorgan Chase & Co. by 62.5% during the 1st quarter. Florida Financial Advisors LLC now owns 9,863 shares of the financial services provider's stock valued at $2,416,000 after purchasing an additional 3,792 shares during the period. Crown Wealth Group LLC raised its position in shares of JPMorgan Chase & Co. by 5.4% during the 1st quarter. Crown Wealth Group LLC now owns 4,320 shares of the financial services provider's stock valued at $1,060,000 after purchasing an additional 222 shares during the period. Mosaic Financial Group LLC increased its holdings in JPMorgan Chase & Co. by 0.8% in the 1st 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 during the last quarter. Morse Asset Management Inc increased its holdings in JPMorgan Chase & Co. by 19.5% in the 1st 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 during the last quarter. Finally, Hidden Cove Wealth Management LLC increased its holdings in JPMorgan Chase & Co. by 4.2% in the 1st 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 during the last quarter. 71.55% of the stock is currently owned by institutional investors.

Insider Activity at JPMorgan Chase & Co.

In related news, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction dated 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 transaction, the director directly owned 82,207 shares of the company's stock, valued at approximately $24,492,753.58. The trade was a 10.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Stock Performance

Shares of NYSE:JPM opened at $315.53 on Wednesday. JPMorgan Chase & Co. has a 52 week low of $202.16 and a 52 week high of $318.01. The stock has a market capitalization of $867.63 billion, a P/E ratio of 16.19, a PEG ratio of 2.08 and a beta of 1.13. The firm has a fifty day simple moving average of $299.93 and a two-hundred day simple moving average of $273.19. 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 released its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, topping analysts' consensus estimates of $4.48 by $0.48. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The firm had revenue of $44.91 billion during the quarter, compared to analysts' expectations of $43.76 billion. During the same period in the previous year, the company earned $6.12 EPS. The firm's revenue for the quarter was down 10.5% compared to the same quarter last year. On average, analysts expect 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 declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, October 6th will be paid a dividend of $1.50 per share. The ex-dividend date of this dividend is Monday, October 6th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.9%. This is a boost from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. JPMorgan Chase & Co.'s dividend payout ratio is presently 28.73%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on JPM shares. 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. Evercore ISI lifted their price target on shares of JPMorgan Chase & Co. from $309.00 to $330.00 and gave the company an "outperform" rating in a report on Tuesday. Truist Financial lifted their price target 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. HSBC reiterated a "reduce" rating and issued a $259.00 price target on shares of JPMorgan Chase & Co. in a report on Tuesday, July 8th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of JPMorgan Chase & Co. from $327.00 to $330.00 and gave the company an "outperform" rating in a report on Wednesday, July 16th. Thirteen analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $303.45.

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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