J.P. Marvel Investment Advisors LLC trimmed its position in JPMorgan Chase & Co. (NYSE:JPM) by 0.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 111,161 shares of the financial services provider’s stock after selling 434 shares during the quarter. JPMorgan Chase & Co. accounts for 3.4% of J.P. Marvel Investment Advisors LLC’s holdings, making the stock its 8th largest holding. J.P. Marvel Investment Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $16,167,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of JPM. Nordwand Advisors LLC bought a new stake in shares of JPMorgan Chase & Co. in the first quarter worth $30,000. Sageworth Trust Co increased its position in JPMorgan Chase & Co. by 266.7% during the 1st quarter. Sageworth Trust Co now owns 407 shares of the financial services provider’s stock valued at $53,000 after purchasing an additional 296 shares during the period. Aspire Private Capital LLC acquired a new stake in JPMorgan Chase & Co. during the 1st quarter valued at approximately $54,391,133,000. Miller Wealth Advisors LLC acquired a new position in shares of JPMorgan Chase & Co. in the 2nd quarter worth approximately $67,000. Finally, Robbins Farley boosted its stake in shares of JPMorgan Chase & Co. by 54.2% in the 1st quarter. Robbins Farley now owns 475 shares of the financial services provider’s stock valued at $62,000 after purchasing an additional 167 shares during the last quarter. 68.94% of the stock is currently owned by institutional investors.
Insider Buying and Selling at JPMorgan Chase & Co.
In other 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 sale, the general counsel now directly owns 53,425 shares of the company’s stock, valued at $7,739,145.50. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.79% of the company’s stock.
JPMorgan Chase & Co. Stock Up 0.3 %
JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last issued its earnings results on Friday, October 13th. The financial services provider reported $4.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.95 by $0.38. JPMorgan Chase & Co. had a net margin of 22.79% and a return on equity of 17.97%. The business had revenue of $40.69 billion for the quarter, compared to analysts’ expectations of $39.63 billion. During the same quarter in the previous year, the firm posted $3.12 EPS. The business’s revenue for the quarter was up 24.4% compared to the same quarter last year. As a group, equities analysts predict that JPMorgan Chase & Co. will post 16.67 EPS for the current year.
JPMorgan Chase & Co. Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 31st. Investors of record on Friday, October 6th were issued a dividend of $1.05 per share. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.00. The ex-dividend date was Thursday, October 5th. This represents a $4.20 dividend on an annualized basis and a yield of 2.74%. JPMorgan Chase & Co.’s dividend payout ratio is 25.07%.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on JPM shares. BMO Capital Markets boosted their target price on shares of JPMorgan Chase & Co. from $167.00 to $171.00 and gave the company a “market perform” rating in a report on Monday, October 16th. Piper Sandler upped their target price on JPMorgan Chase & Co. from $168.00 to $170.00 and gave the company an “overweight” rating in a research report on Monday, October 16th. Odeon Capital Group downgraded JPMorgan Chase & Co. from a “buy” rating to a “hold” rating and set a $140.00 target price for the company. in a report on Thursday, November 2nd. Evercore ISI raised their price objective on shares of JPMorgan Chase & Co. from $158.00 to $167.00 in a research report on Thursday, October 5th. Finally, Oppenheimer boosted their target price on shares of JPMorgan Chase & Co. from $233.00 to $243.00 and gave the company an “outperform” rating in a research report on Thursday, November 16th. Nine equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $168.80.
About JPMorgan Chase & Co.
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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