Whitener Capital Management Inc. Sells 1,161 Shares of JPMorgan Chase & Co. $JPM

Key Points

• Whitener Capital Management Inc. reduced its stake in JPMorgan Chase & Co. by 1.5%, now holding 78,335 shares worth approximately $22.71 million.
• Insider Linda Bammann sold 9,500 shares of JPMorgan Chase, decreasing her holdings by 10.36%, with the remaining shares valued at about $24.49 million.
• JPMorgan Chase announced a quarterly dividend increase to $1.50 per share, reflecting an annualized yield of 1.9%, with the ex-dividend date set for October 6th.

Whitener Capital Management Inc. lowered its stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 1.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 78,335 shares of the financial services provider's stock after selling 1,161 shares during the quarter. JPMorgan Chase & Co. comprises approximately 6.0% of Whitener Capital Management Inc.'s holdings, making the stock its largest holding. Whitener Capital Management Inc.'s holdings in JPMorgan Chase & Co. were worth $22,710,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. MJT & Associates Financial Advisory Group Inc. acquired a new stake in shares of JPMorgan Chase & Co. in the 1st quarter valued at about $28,000. University of Illinois Foundation acquired a new position in JPMorgan Chase & Co. during the first quarter worth $30,000. Curat Global LLC acquired a new position in JPMorgan Chase & Co. during the first quarter worth approximately $33,000. Ryan Investment Management Inc. acquired a new position in shares of JPMorgan Chase & Co. during the 2nd quarter worth approximately $37,000. Finally, Christopher J. Hasenberg Inc increased its holdings 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 last quarter. Institutional investors and hedge funds own 71.55% of the company's stock.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the stock in a transaction that occurred on 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 completion of the sale, the director owned 82,207 shares in the company, valued at approximately $24,492,753.58. This trade represents a 10.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.47% of the stock is owned by insiders.

Analysts Set New Price Targets

JPM has been the topic of several research reports. Wells Fargo & Company upped 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 note on Tuesday, September 16th. Robert W. Baird lowered JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 price target on the stock. in a research note on Friday, June 27th. Evercore ISI set a $298.00 price target on shares of JPMorgan Chase & Co. and gave the stock an "outperform" rating in a report on Monday, July 7th. Bank of America boosted their price target on shares of JPMorgan Chase & Co. from $330.00 to $340.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. Finally, TD Securities reissued a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $292.78.

JPMorgan Chase & Co. Price Performance

JPM opened at $312.53 on Wednesday. JPMorgan Chase & Co. has a twelve month low of $202.16 and a twelve month high of $316.31. The company has a market capitalization of $859.37 billion, a price-to-earnings ratio of 16.04, a PEG ratio of 2.07 and a beta of 1.13. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.25. The firm has a 50-day moving average price of $297.43 and a 200-day moving average price of $270.22.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, beating the consensus estimate 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 company 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 earnings per share. JPMorgan Chase & Co.'s revenue for the quarter was down 10.5% on a year-over-year basis. Equities analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current 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. 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. The ex-dividend date of this dividend is Monday, October 6th. JPMorgan Chase & Co.'s payout ratio is currently 28.73%.

JPMorgan Chase & Co. Company 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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