JPMorgan Chase & Co. $JPM Shares Sold by Carr Financial Group Corp

Carr Financial Group Corp lessened its stake in JPMorgan Chase & Co. (NYSE:JPM) by 2.6% in the 2nd quarter, Holdings Channel.com reports. The firm owned 5,901 shares of the financial services provider’s stock after selling 156 shares during the period. Carr Financial Group Corp’s holdings in JPMorgan Chase & Co. were worth $1,711,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. MJT & Associates Financial Advisory Group Inc. purchased a new stake in shares of JPMorgan Chase & Co. in the first quarter valued at about $28,000. University of Illinois Foundation acquired a new position in JPMorgan Chase & Co. in the 1st quarter valued at about $30,000. Curat Global LLC purchased a new stake in shares of JPMorgan Chase & Co. in the 1st quarter valued at approximately $33,000. Ryan Investment Management Inc. acquired a new stake in shares of JPMorgan Chase & Co. during the 2nd quarter worth approximately $37,000. Finally, Christopher J. Hasenberg Inc raised its position in shares of JPMorgan Chase & Co. by 212.0% during 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. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Up 0.9%

Shares of NYSE:JPM opened at $316.12 on Friday. The firm has a market capitalization of $869.25 billion, a PE ratio of 16.22, a price-to-earnings-growth ratio of 2.08 and a beta of 1.13. JPMorgan Chase & Co. has a 1 year low of $202.16 and a 1 year high of $317.81. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.88. The firm’s 50-day moving average is $298.96 and its two-hundred day moving average is $271.99.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share for the quarter, beating analysts’ consensus estimates of $4.48 by $0.48. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The firm had revenue of $44.91 billion during the quarter, compared to analysts’ expectations of $43.76 billion. During the same quarter in the previous year, the business posted $6.12 earnings per share. The business’s quarterly revenue was down 10.5% compared to the same quarter last year. Analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, October 6th will be paid a $1.50 dividend. The ex-dividend date is Monday, October 6th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. This represents a $6.00 annualized dividend and a dividend yield of 1.9%. JPMorgan Chase & Co.’s payout ratio is 28.73%.

Insider Transactions at JPMorgan Chase & Co.

In related news, Director Linda Bammann sold 9,500 shares of the business’s stock in a transaction 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 transaction, the director directly owned 82,207 shares of the company’s stock, valued at $24,492,753.58. The trade was a 10.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on JPM. Morgan Stanley increased their price objective on JPMorgan Chase & Co. from $296.00 to $298.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 16th. Truist Financial increased their price target on JPMorgan Chase & Co. from $290.00 to $319.00 and gave the stock a “hold” rating in a report on Tuesday, September 23rd. Keefe, Bruyette & Woods boosted their price objective on shares of JPMorgan Chase & Co. from $327.00 to $330.00 and gave the company an “outperform” rating in a report on Wednesday, July 16th. Citigroup upped their target price on shares of JPMorgan Chase & Co. from $275.00 to $325.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, Hsbc Global Res cut shares of JPMorgan Chase & Co. from a “hold” rating to a “moderate sell” rating in a research report on Tuesday, July 8th. Thirteen research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $297.17.

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.