JPMorgan Chase & Co. $JPM Shares Sold by Equita Financial Network Inc.

Equita Financial Network Inc. cut its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 44.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 962 shares of the financial services provider’s stock after selling 783 shares during the period. Equita Financial Network Inc.’s holdings in JPMorgan Chase & Co. were worth $279,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Harbor Asset Planning Inc. purchased a new position in JPMorgan Chase & Co. in the second quarter worth approximately $26,000. MJT & Associates Financial Advisory Group Inc. acquired a new position in shares of JPMorgan Chase & Co. in the 1st quarter valued at $28,000. University of Illinois Foundation purchased a new position in shares of JPMorgan Chase & Co. during the 1st quarter worth $30,000. Ryan Investment Management Inc. acquired a new stake in shares of JPMorgan Chase & Co. during the 2nd quarter worth about $37,000. Finally, Christopher J. Hasenberg Inc raised its holdings in JPMorgan Chase & Co. by 212.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider’s stock valued at $45,000 after buying an additional 106 shares during the period. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Trading Up 0.6%

Shares of JPM stock opened at $313.63 on Friday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.86. The stock has a market capitalization of $862.40 billion, a P/E ratio of 15.53, a price-to-earnings-growth ratio of 1.84 and a beta of 1.14. The company has a 50 day moving average price of $305.92 and a 200 day moving average price of $286.33. JPMorgan Chase & Co. has a fifty-two week low of $202.16 and a fifty-two week high of $318.01.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.83 by $0.24. JPMorgan Chase & Co. had a net margin of 20.90% and a return on equity of 17.18%. The company had revenue of $46.43 billion for the quarter, compared to analyst estimates of $44.42 billion. During the same period in the prior year, the business earned $4.37 EPS. The firm’s quarterly revenue was up 8.8% on a year-over-year basis. Equities research analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Monday, October 6th were paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Monday, October 6th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. JPMorgan Chase & Co.’s payout ratio is presently 29.72%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on JPM. Citigroup increased their target price on shares of JPMorgan Chase & Co. from $275.00 to $325.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 24th. Piper Sandler restated an “overweight” rating on shares of JPMorgan Chase & Co. in a report on Tuesday, July 15th. Dbs Bank raised shares of JPMorgan Chase & Co. to a “hold” rating in a research report on Tuesday, October 21st. Daiwa Capital Markets lifted their target price on shares of JPMorgan Chase & Co. from $330.00 to $332.00 and gave the company an “outperform” rating in a report on Wednesday, October 8th. Finally, Loop Capital set a $310.00 target price on JPMorgan Chase & Co. in a research report on Thursday, October 23rd. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $326.38.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the sale, the director owned 82,207 shares in the company, valued at $24,492,753.58. This represents a 10.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.47% of the stock is owned by insiders.

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.