True North Advisors LLC Decreases Stock Holdings in JPMorgan Chase & Co. $JPM

Key Points

• True North Advisors LLC decreased its stock holdings in JPMorgan Chase & Co. by 13.3%, now owning 17,904 shares valued at approximately $5.19 million.
• JPMorgan's quarterly dividend will increase to $1.50 per share, with a yield of 1.9%, reflecting a positive move from the previous $1.40 dividend.
• Analysts have set new target prices for JPMorgan shares, with Morgan Stanley raising their target from $298.00 to $336.00, indicating a strong outlook for the stock.

True North Advisors LLC trimmed its position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 13.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,904 shares of the financial services provider's stock after selling 2,755 shares during the quarter. JPMorgan Chase & Co. accounts for approximately 1.0% of True North Advisors LLC's holdings, making the stock its 19th biggest holding. True North Advisors LLC's holdings in JPMorgan Chase & Co. were worth $5,191,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in JPM. MJT & Associates Financial Advisory Group Inc. purchased a new stake in shares of JPMorgan Chase & Co. during the first quarter worth about $28,000. University of Illinois Foundation bought a new position in JPMorgan Chase & Co. during the 1st quarter valued at approximately $30,000. Curat Global LLC purchased a new stake in JPMorgan Chase & Co. in the 1st quarter worth approximately $33,000. Ryan Investment Management Inc. purchased a new stake in JPMorgan Chase & Co. in the 2nd quarter worth approximately $37,000. Finally, Christopher J. Hasenberg Inc grew its position in shares of JPMorgan Chase & Co. by 212.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider's stock worth $45,000 after buying an additional 106 shares during the last quarter. Hedge funds and other institutional investors own 71.55% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on JPM shares. Morgan Stanley upped their target price on JPMorgan Chase & Co. from $298.00 to $336.00 and gave the company an "equal weight" rating in a report on Monday. Keefe, Bruyette & Woods raised their target price on shares of JPMorgan Chase & Co. from $327.00 to $330.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 16th. Royal Bank Of Canada reaffirmed a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Thursday, September 11th. Baird R W downgraded shares of JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a research note on Friday, June 27th. Finally, Truist Financial raised their price objective on shares of JPMorgan Chase & Co. from $290.00 to $319.00 and gave the stock a "hold" rating in a report on Tuesday, September 23rd. Thirteen equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $303.45.

Insider Transactions at JPMorgan Chase & Co.

In other news, Director Linda Bammann sold 9,500 shares of the company's stock in a transaction that occurred on Tuesday, September 2nd. The shares were 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 in the company, valued at approximately $24,492,753.58. This represents a 10.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Stock Down 0.1%

JPM stock opened at $315.53 on Wednesday. The business has a 50 day moving average of $299.93 and a 200 day moving average of $273.19. The firm has a market cap of $867.63 billion, a PE ratio of 16.19, a price-to-earnings-growth ratio of 2.08 and a beta of 1.13. JPMorgan Chase & Co. has a twelve month low of $202.16 and a twelve month high of $318.01. 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 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 return on equity of 16.93% and a net margin of 20.52%.The firm had revenue of $44.91 billion for the quarter, compared to analysts' expectations of $43.76 billion. During the same period in the prior year, the firm posted $6.12 earnings per share. The company's quarterly revenue was down 10.5% on a year-over-year basis. On average, research analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS 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. Shareholders 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 represents a $6.00 dividend on an annualized basis and a yield of 1.9%. This is an increase from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is 28.73%.

About JPMorgan Chase & Co.

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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