Vermillion Wealth Management Inc. Cuts Holdings in JPMorgan Chase & Co. $JPM

Key Points

• Vermillion Wealth Management Inc. drastically reduced its stake in JPMorgan Chase & Co. by 98.3% during Q2, holding only 794 shares worth $230,000 after selling 44,998 shares.
• Analysts have issued mixed ratings for JPMorgan, with Zacks lowering it to "hold" and Wells Fargo raising their price target to $345, indicating differing outlooks among experts.
• JPMorgan recently increased its quarterly dividend from $1.40 to $1.50 per share, signifying a commitment to returning value to shareholders despite a quarterly revenue decline of 10.5% year-over-year.

Vermillion Wealth Management Inc. cut its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 98.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 794 shares of the financial services provider's stock after selling 44,998 shares during the quarter. Vermillion Wealth Management Inc.'s holdings in JPMorgan Chase & Co. were worth $230,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. MJT & Associates Financial Advisory Group Inc. purchased a new position in JPMorgan Chase & Co. in the first quarter valued at about $28,000. University of Illinois Foundation bought a new stake in shares of JPMorgan Chase & Co. in the first quarter valued at approximately $30,000. Curat Global LLC bought a new stake in shares of JPMorgan Chase & Co. in the first quarter valued at approximately $33,000. Ryan Investment Management Inc. bought a new stake in shares of JPMorgan Chase & Co. in the second quarter valued at approximately $37,000. Finally, Christopher J. Hasenberg Inc raised 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 purchasing an additional 106 shares during the period. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Linda Bammann sold 9,500 shares of the company's stock in a transaction 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 completion of the sale, the director owned 82,207 shares of the company's stock, valued at approximately $24,492,753.58. This represents a 10.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.47% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Zacks Research lowered shares of JPMorgan Chase & Co. from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 8th. Robert W. Baird lowered shares of JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 price target on the stock. in a research report on Friday, June 27th. Wells Fargo & Company boosted their price target on shares of JPMorgan Chase & Co. from $325.00 to $345.00 and gave the company an "overweight" rating in a research report on Tuesday, September 16th. Morgan Stanley boosted their price objective on shares of JPMorgan Chase & Co. from $298.00 to $336.00 and gave the company an "equal weight" rating in a research note on Monday. Finally, Royal Bank Of Canada reaffirmed a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Thursday, September 11th. Fourteen analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $303.45.

JPMorgan Chase & Co. Price Performance

JPM stock opened at $309.89 on Friday. 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. has a one year low of $202.16 and a one year high of $318.01. The stock has a market cap of $852.11 billion, a PE ratio of 15.90, a P/E/G ratio of 2.03 and a beta of 1.13. The firm has a 50 day simple moving average of $300.67 and a two-hundred day simple moving average of $274.48.

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 business had revenue of $44.91 billion during the quarter, compared to analysts' expectations of $43.76 billion. During the same quarter in the previous year, the company earned $6.12 EPS. The business's quarterly revenue was down 10.5% compared to the same quarter last year. On average, analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm 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 $1.50 dividend. This is a positive change from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. 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%. JPMorgan Chase & Co.'s dividend payout ratio is currently 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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