JPMorgan Chase & Co. $JPM Shares Sold by Marietta Wealth Management LLC

Marietta Wealth Management LLC lowered its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 49,395 shares of the financial services provider’s stock after selling 111 shares during the quarter. JPMorgan Chase & Co. makes up approximately 1.9% of Marietta Wealth Management LLC’s holdings, making the stock its 15th largest position. Marietta Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $14,320,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in JPM. Kingstone Capital Partners Texas LLC boosted its position in JPMorgan Chase & Co. by 609,867.5% during the 2nd 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 acquired a new position in JPMorgan Chase & Co. during the 1st quarter valued at approximately $3,972,807,000. National Bank of Canada FI boosted its position in 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 valued at $1,108,415,000 after purchasing an additional 1,388,992 shares during the period. Strs Ohio acquired a new position in JPMorgan Chase & Co. during the 1st quarter worth $279,389,000. Finally, Alecta Tjanstepension Omsesidigt acquired a new position in JPMorgan Chase & Co. during the 1st quarter worth $278,493,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Morgan Stanley boosted their price target on JPMorgan Chase & Co. from $298.00 to $336.00 and gave the stock an “equal weight” rating in a research report on Monday, September 29th. Weiss Ratings reiterated a “buy (b+)” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, October 8th. TD Cowen boosted their price target on JPMorgan Chase & Co. from $350.00 to $370.00 and gave the stock a “buy” rating in a research report on Friday, October 3rd. HSBC reiterated a “reduce” rating and set a $259.00 price target on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 8th. Finally, Phillip Securities lowered JPMorgan Chase & Co. from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, July 16th. Fifteen research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, JPMorgan Chase & Co. presently has an average rating of “Hold” and a consensus price target of $316.00.

Insiders Place Their Bets

In related news, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $297.94, for a total value of $2,830,430.00. Following the transaction, the director owned 82,207 shares of the company’s stock, valued at approximately $24,492,753.58. This trade represents a 10.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.47% of the company’s stock.

JPMorgan Chase & Co. Stock Down 1.4%

JPM opened at $301.12 on Monday. JPMorgan Chase & Co. has a one year low of $202.16 and a one year high of $318.01. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.88 and a current ratio of 0.88. The stock’s fifty day moving average is $301.61 and its 200-day moving average is $276.98. The company has a market capitalization of $828.00 billion, a PE ratio of 15.45, a P/E/G ratio of 1.94 and a beta of 1.13.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, topping analysts’ consensus estimates of $4.48 by $0.48. The company had revenue of $44.91 billion for the quarter, compared to the consensus estimate of $43.76 billion. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.The company’s quarterly revenue was down 10.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $6.12 EPS. On average, equities 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 declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, October 6th will be paid a $1.50 dividend. The ex-dividend date of this dividend is Monday, October 6th. This represents a $6.00 dividend on an annualized basis and a yield of 2.0%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 30.79%.

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.