Gateway Investment Advisers LLC trimmed its stake in shares of JPMorgan Chase & Co. (NYSE:JPM – Free Report) by 0.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 838,693 shares of the financial services provider’s stock after selling 1,522 shares during the quarter. JPMorgan Chase & Co. makes up 1.4% of Gateway Investment Advisers LLC’s holdings, making the stock its 10th biggest holding. Gateway Investment Advisers LLC’s holdings in JPMorgan Chase & Co. were worth $121,979,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Atlas Private Wealth Management lifted its position in shares of JPMorgan Chase & Co. by 11.7% in the 2nd quarter. Atlas Private Wealth Management now owns 27,106 shares of the financial services provider’s stock worth $3,942,000 after purchasing an additional 2,834 shares during the period. Crew Capital Management Ltd. raised its stake in JPMorgan Chase & Co. by 7.2% during the first quarter. Crew Capital Management Ltd. now owns 6,286 shares of the financial services provider’s stock worth $819,000 after buying an additional 424 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its stake in JPMorgan Chase & Co. by 46.4% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 43,526 shares of the financial services provider’s stock worth $5,612,000 after buying an additional 13,792 shares during the last quarter. CHURCHILL MANAGEMENT Corp lifted its holdings in JPMorgan Chase & Co. by 3.4% in the first quarter. CHURCHILL MANAGEMENT Corp now owns 29,711 shares of the financial services provider’s stock valued at $3,872,000 after buying an additional 984 shares during the period. Finally, Janney Montgomery Scott LLC boosted its position in JPMorgan Chase & Co. by 1.5% during the first quarter. Janney Montgomery Scott LLC now owns 1,723,422 shares of the financial services provider’s stock valued at $224,579,000 after acquiring an additional 26,285 shares during the last quarter. 68.94% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several research analysts have recently weighed in on JPM shares. Jefferies Financial Group raised JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $149.00 to $165.00 in a research report on Tuesday, July 11th. Citigroup downgraded JPMorgan Chase & Co. from a “buy” rating to a “neutral” rating and set a $160.00 target price for the company. in a report on Wednesday, July 12th. Piper Sandler increased their price target on JPMorgan Chase & Co. from $158.00 to $168.00 in a report on Monday, July 17th. Credit Suisse Group lifted their price objective on shares of JPMorgan Chase & Co. from $160.00 to $170.00 in a research note on Monday, July 17th. Finally, Atlantic Securities increased their target price on shares of JPMorgan Chase & Co. from $150.00 to $160.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 1st. Eight investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, JPMorgan Chase & Co. presently has an average rating of “Moderate Buy” and an average target price of $167.21.
Insider Buying and Selling
In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 4,310 shares of the stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $144.86, for a total value of $624,346.60. Following the completion of the sale, the general counsel now owns 53,425 shares in the company, valued at approximately $7,739,145.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.79% of the stock is owned by corporate insiders.
JPMorgan Chase & Co. Stock Down 1.0 %
JPM stock opened at $145.73 on Monday. The firm has a market capitalization of $423.50 billion, a PE ratio of 9.38, a P/E/G ratio of 1.87 and a beta of 1.11. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.28. JPMorgan Chase & Co. has a twelve month low of $101.28 and a twelve month high of $159.38. The stock’s 50 day moving average is $150.87 and its 200-day moving average is $141.81.
JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last released its quarterly earnings results on Friday, July 14th. The financial services provider reported $4.37 EPS for the quarter, beating analysts’ consensus estimates of $3.62 by $0.75. JPMorgan Chase & Co. had a return on equity of 17.29% and a net margin of 23.45%. The business had revenue of $42.40 billion during the quarter, compared to analyst estimates of $38.66 billion. During the same period in the prior year, the firm posted $2.76 EPS. JPMorgan Chase & Co.’s quarterly revenue was up 34.1% compared to the same quarter last year. Sell-side analysts expect that JPMorgan Chase & Co. will post 15.57 EPS for the current fiscal year.
JPMorgan Chase & Co. Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, October 6th will be given a dividend of $1.05 per share. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.00. This represents a $4.20 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date of this dividend is Thursday, October 5th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 25.74%.
JPMorgan Chase & Co. Company Profile
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 deposit, investment and lending products, cash management, and payments and services to consumers and small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services.
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