White Pine Investment CO Sells 1,612 Shares of JPMorgan Chase & Co. $JPM

Key Points

• White Pine Investment CO reduced its stake in JPMorgan Chase & Co. by 4.7%, selling 1,612 shares to hold a total of 32,519 shares, valued at approximately $9.4 million.
• Several institutional investors increased their stakes, with the overall institutional ownership of JPMorgan Chase & Co. reaching 71.55%.
• The company announced a quarterly dividend increase to $1.50 per share, reflecting an annualized yield of 1.9%, payable on October 31st.

White Pine Investment CO lowered its stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 4.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 32,519 shares of the financial services provider's stock after selling 1,612 shares during the period. JPMorgan Chase & Co. accounts for 2.4% of White Pine Investment CO's holdings, making the stock its 11th biggest position. White Pine Investment CO's holdings in JPMorgan Chase & Co. were worth $9,428,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in JPM. MJT & Associates Financial Advisory Group Inc. bought a new stake in JPMorgan Chase & Co. in the 1st quarter valued at $28,000. University of Illinois Foundation bought a new stake in JPMorgan Chase & Co. in the 1st quarter valued at $30,000. Ryan Investment Management Inc. bought a new stake in JPMorgan Chase & Co. in the 2nd quarter valued at $37,000. Christopher J. Hasenberg Inc raised its stake in 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 valued at $45,000 after acquiring an additional 106 shares during the period. Finally, Goodman Advisory Group LLC bought a new stake in JPMorgan Chase & Co. in the 1st quarter valued at $76,000. Institutional investors own 71.55% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on JPM. Morgan Stanley increased their price target on JPMorgan Chase & Co. from $298.00 to $336.00 and gave the company an "equal weight" rating in a research note on Monday, September 29th. Weiss Ratings reiterated a "buy (b+)" rating on shares of JPMorgan Chase & Co. in a research report on Saturday, September 27th. Bank of America increased their price objective on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. Truist Financial increased their price objective on JPMorgan Chase & Co. from $290.00 to $319.00 and gave the stock a "hold" rating in a research report on Tuesday, September 23rd. Finally, Keefe, Bruyette & Woods increased their price objective on JPMorgan Chase & Co. from $327.00 to $330.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 16th. Fifteen equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $307.70.

JPMorgan Chase & Co. Stock Performance

JPM opened at $309.89 on Monday. The firm has a market cap of $852.11 billion, a P/E ratio of 15.90, a price-to-earnings-growth ratio of 2.04 and a beta of 1.13. JPMorgan Chase & Co. has a 52-week low of $202.16 and a 52-week high of $318.01. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.88 and a current ratio of 0.88. The business's fifty day moving average is $300.67 and its 200-day moving average is $274.97.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its earnings results 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. The company had revenue of $44.91 billion for the quarter, compared to analyst estimates of $43.76 billion. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.JPMorgan Chase & Co.'s quarterly revenue was down 10.5% on a year-over-year basis. During the same period in the prior year, the firm posted $6.12 EPS. Sell-side analysts expect 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. 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 1.9%. This is a boost 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 28.73%.

Insiders Place Their Bets

In related news, Director Linda Bammann sold 9,500 shares of the firm's stock in a transaction dated 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 sale, the director directly owned 82,207 shares of the company's stock, valued at $24,492,753.58. This trade represents a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.47% of the stock is owned by company insiders.

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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