BLB&B Advisors LLC Lowers Stake in JPMorgan Chase & Co. $JPM

BLB&B Advisors LLC lessened its stake in JPMorgan Chase & Co. (NYSE:JPM) by 0.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 130,136 shares of the financial services provider’s stock after selling 382 shares during the period. JPMorgan Chase & Co. accounts for about 1.8% of BLB&B Advisors LLC’s portfolio, making the stock its 15th largest position. BLB&B Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $37,728,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Kingstone Capital Partners Texas LLC boosted its holdings in shares of JPMorgan Chase & Co. by 609,867.5% in the second quarter. Kingstone Capital Partners Texas LLC now owns 72,897,211 shares of the financial services provider’s stock valued at $21,133,630,000 after purchasing an additional 72,885,260 shares during the period. Nuveen LLC purchased a new position in JPMorgan Chase & Co. during the 1st quarter worth $3,972,807,000. Montrusco Bolton Investments Inc. bought a new stake in JPMorgan Chase & Co. during the 2nd quarter valued at $485,802,000. International Assets Investment Management LLC purchased a new stake in shares of JPMorgan Chase & Co. in the 2nd quarter worth $458,104,000. Finally, National Bank of Canada FI grew its position in shares of JPMorgan Chase & Co. by 44.4% during the 1st quarter. National Bank of Canada FI now owns 4,518,740 shares of the financial services provider’s stock worth $1,108,415,000 after buying an additional 1,388,992 shares in the last quarter. Institutional investors own 71.55% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on JPM. Truist Financial lifted their price objective on JPMorgan Chase & Co. from $290.00 to $319.00 and gave the company a “hold” rating in a report on Tuesday, September 23rd. Phillip Securities downgraded shares of JPMorgan Chase & Co. from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, July 16th. Wall Street Zen upgraded shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a report on Saturday. Wolfe Research increased their price objective on shares of JPMorgan Chase & Co. from $342.00 to $346.00 and gave the company an “outperform” rating in a research note on Thursday, October 16th. Finally, Weiss Ratings lowered shares of JPMorgan Chase & Co. from a “buy (a-)” rating to a “buy (b+)” rating in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. has an average rating of “Moderate Buy” and an average price target of $326.38.

JPMorgan Chase & Co. Price Performance

NYSE JPM opened at $314.30 on Monday. The firm’s fifty day simple moving average is $306.18 and its two-hundred day simple moving average is $287.61. The firm has a market capitalization of $855.62 billion, a P/E ratio of 15.57, a P/E/G ratio of 1.84 and a beta of 1.14. The company has a current ratio of 0.86, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. JPMorgan Chase & Co. has a 12-month low of $202.16 and a 12-month high of $318.01.

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

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Monday, October 6th were issued a $1.50 dividend. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. This represents a $6.00 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Monday, October 6th. JPMorgan Chase & Co.’s dividend payout ratio is 29.72%.

Insider Transactions at JPMorgan Chase & Co.

In other news, insider Robin Leopold sold 966 shares of the business’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $311.92, for a total transaction of $301,314.72. Following the sale, the insider owned 58,479 shares in the company, valued at approximately $18,240,769.68. The trade was a 1.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction that occurred on 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 completion of the sale, 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 disclosure for this sale is available in the SEC filing. 0.47% of the stock is currently owned by insiders.

About JPMorgan Chase & Co.

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.