Ameriflex Group Inc. Reduces Position in JPMorgan Chase & Co. $JPM

Ameriflex Group Inc. cut its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 25.1% in the second quarter, Holdings Channel.com reports. The firm owned 5,620 shares of the financial services provider’s stock after selling 1,879 shares during the quarter. JPMorgan Chase & Co. comprises approximately 0.9% of Ameriflex Group Inc.’s investment portfolio, making the stock its 22nd biggest position. Ameriflex Group Inc.’s holdings in JPMorgan Chase & Co. were worth $1,623,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Brighton Jones LLC boosted its position in JPMorgan Chase & Co. by 11.0% in the 4th quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider’s stock valued at $11,682,000 after buying an additional 4,841 shares during the period. GAMMA Investing LLC raised its holdings in shares of JPMorgan Chase & Co. by 5.8% in the 1st quarter. GAMMA Investing LLC now owns 96,029 shares of the financial services provider’s stock valued at $23,556,000 after purchasing an additional 5,296 shares in the last quarter. Foresight Capital Management Advisors Inc. bought a new stake in shares of JPMorgan Chase & Co. in the 1st quarter valued at about $435,000. Donaldson Capital Management LLC raised its holdings in shares of JPMorgan Chase & Co. by 0.8% in the 1st quarter. Donaldson Capital Management LLC now owns 344,604 shares of the financial services provider’s stock valued at $84,531,000 after purchasing an additional 2,580 shares in the last quarter. Finally, Focus Financial Network Inc. raised its holdings in shares of JPMorgan Chase & Co. by 0.7% in the 1st quarter. Focus Financial Network Inc. now owns 34,971 shares of the financial services provider’s stock valued at $8,578,000 after purchasing an additional 234 shares in the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Price Performance

JPMorgan Chase & Co. stock opened at $301.12 on Friday. JPMorgan Chase & Co. has a 12-month low of $202.16 and a 12-month high of $318.01. The stock has a market cap of $828.00 billion, a P/E ratio of 15.45, a PEG ratio of 1.97 and a beta of 1.13. The company has a 50-day moving average price of $301.61 and a 200 day moving average price of $276.60. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.25.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data 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 firm had revenue of $44.91 billion during the quarter, compared to analysts’ expectations of $43.76 billion. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. JPMorgan Chase & Co.’s revenue was down 10.5% compared to the same quarter last year. During the same period last year, the business earned $6.12 earnings per share. Sell-side analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, October 6th will be paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 2.0%. 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 30.79%.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the completion of the transaction, the director 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.47% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on JPM. Baird R W lowered shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research note on Friday, June 27th. UBS Group upped their price objective on shares of JPMorgan Chase & Co. from $339.00 to $350.00 and gave the company a “buy” rating in a report on Tuesday. Truist Financial upped their price objective on shares of JPMorgan Chase & Co. from $290.00 to $319.00 and gave the company a “hold” rating in a report on Tuesday, September 23rd. Deutsche Bank Aktiengesellschaft increased their price target on shares of JPMorgan Chase & Co. from $300.00 to $320.00 and gave the stock a “hold” rating in a report on Tuesday, September 30th. Finally, Bank of America upped their price objective 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. Fourteen research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. has an average rating of “Hold” and an average target price of $313.89.

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.