HGK Asset Management Inc. reduced its position in JPMorgan Chase & Co. (NYSE:JPM) by 2.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,193 shares of the financial services provider’s stock after selling 1,360 shares during the quarter. JPMorgan Chase & Co. accounts for approximately 2.0% of HGK Asset Management Inc.’s investment portfolio, making the stock its 5th largest holding. HGK Asset Management Inc.’s holdings in JPMorgan Chase & Co. were worth $5,427,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Dravo Bay LLC purchased a new position in JPMorgan Chase & Co. in the first quarter valued at about $26,000. HBC Financial Services PLLC grew its stake in JPMorgan Chase & Co. by 61.2% in the second quarter. HBC Financial Services PLLC now owns 237 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 90 shares during the last quarter. Financial Connections Group Inc. grew its stake in JPMorgan Chase & Co. by 48.5% in the second quarter. Financial Connections Group Inc. now owns 306 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 100 shares during the last quarter. Advanced Research Investment Solutions LLC grew its stake in JPMorgan Chase & Co. by 118.2% in the first quarter. Advanced Research Investment Solutions LLC now owns 288 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 156 shares during the last quarter. Finally, Activest Wealth Management grew its stake in JPMorgan Chase & Co. by 284.0% in the second quarter. Activest Wealth Management now owns 361 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 267 shares during the last quarter. 68.57% of the stock is currently owned by institutional investors.
JPMorgan Chase & Co. Trading Up 5.3 %
Shares of NYSE:JPM opened at $122.23 on Friday. JPMorgan Chase & Co. has a 12-month low of $101.28 and a 12-month high of $172.96. The company has a market capitalization of $358.45 billion, a PE ratio of 10.32, a PEG ratio of 2.02 and a beta of 1.09. The business has a 50 day moving average of $113.88 and a two-hundred day moving average of $118.08. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 1.13.
JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last announced its quarterly earnings results on Friday, October 14th. The financial services provider reported $3.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.95 by $0.17. JPMorgan Chase & Co. had a return on equity of 14.52% and a net margin of 26.85%. The company had revenue of $32.72 billion during the quarter, compared to the consensus estimate of $31.88 billion. During the same period in the previous year, the company posted $3.74 earnings per share. JPMorgan Chase & Co.’s revenue for the quarter was up 10.4% on a year-over-year basis. As a group, analysts forecast that JPMorgan Chase & Co. will post 11.61 EPS for the current year.
JPMorgan Chase & Co. Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Thursday, October 6th will be paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 3.27%. The ex-dividend date of this dividend is Wednesday, October 5th. JPMorgan Chase & Co.’s payout ratio is 33.78%.
Wall Street Analyst Weigh In
JPM has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft cut their target price on JPMorgan Chase & Co. from $174.00 to $155.00 and set a “buy” rating on the stock in a research note on Monday, September 12th. Berenberg Bank upgraded JPMorgan Chase & Co. from a “sell” rating to a “hold” rating and set a $120.00 price target on the stock in a research note on Monday, July 18th. Citigroup upgraded JPMorgan Chase & Co. from a “neutral” rating to a “buy” rating and dropped their price target for the stock from $145.00 to $135.00 in a research note on Tuesday, July 12th. Piper Sandler dropped their price target on JPMorgan Chase & Co. from $170.00 to $158.00 and set an “overweight” rating on the stock in a research note on Friday, July 1st. Finally, StockNews.com began coverage on JPMorgan Chase & Co. in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. One analyst has rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $144.90.
Insider Transactions at JPMorgan Chase & Co.
In other news, CEO Mary E. Erdoes sold 33,515 shares of the company’s stock in a transaction that occurred on Monday, October 17th. The stock was sold at an average price of $115.77, for a total transaction of $3,880,031.55. Following the completion of the transaction, the chief executive officer now directly owns 533,795 shares of the company’s stock, valued at approximately $61,797,447.15. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.79% of the company’s stock.
About JPMorgan Chase & Co.
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JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers s deposit, investment and lending products, payments, and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit card, auto loan, and leasing services.
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