Keudell Morrison Wealth Management Reduces Stock Holdings in JPMorgan Chase & Co. $JPM

Keudell Morrison Wealth Management trimmed its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 9.0% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 9,484 shares of the financial services provider’s stock after selling 941 shares during the period. Keudell Morrison Wealth Management’s holdings in JPMorgan Chase & Co. were worth $2,749,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in JPM. Brighton Jones LLC grew its stake in JPMorgan Chase & Co. by 11.0% during the 4th quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider’s stock valued at $11,682,000 after purchasing an additional 4,841 shares during the last quarter. GAMMA Investing LLC grew its stake in JPMorgan Chase & Co. by 5.8% during 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 during the last quarter. Ironwood Wealth Management LLC. grew its stake in JPMorgan Chase & Co. by 0.7% during the 1st quarter. Ironwood Wealth Management LLC. now owns 15,400 shares of the financial services provider’s stock valued at $3,778,000 after purchasing an additional 107 shares during the last quarter. Acorns Advisers LLC grew its stake in JPMorgan Chase & Co. by 6.9% during the 1st quarter. Acorns Advisers LLC now owns 1,547 shares of the financial services provider’s stock valued at $379,000 after purchasing an additional 100 shares during the last quarter. Finally, Hassell Wealth Management LLC grew its stake in JPMorgan Chase & Co. by 5.2% during the 1st quarter. Hassell Wealth Management LLC now owns 4,299 shares of the financial services provider’s stock valued at $1,009,000 after purchasing an additional 214 shares during the last quarter. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related 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 value of $2,830,430.00. Following the completion of the transaction, the director owned 82,207 shares of the company’s stock, valued at approximately $24,492,753.58. This represents a 10.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.47% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

NYSE JPM opened at $301.12 on Monday. The stock has a market capitalization of $828.00 billion, a price-to-earnings ratio of 15.45, a PEG ratio of 1.94 and a beta of 1.13. JPMorgan Chase & Co. has a twelve month low of $202.16 and a twelve month high of $318.01. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.25. The stock has a 50-day moving average of $301.61 and a 200 day moving average of $276.98.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share for the quarter, topping analysts’ consensus estimates of $4.48 by $0.48. The company had revenue of $44.91 billion during the quarter, compared to analysts’ expectations of $43.76 billion. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.JPMorgan Chase & Co.’s quarterly revenue was down 10.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $6.12 EPS. Sell-side analysts anticipate 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 will be paid on Friday, October 31st. Investors of record on Monday, October 6th will be issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is 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 currently 30.79%.

Analyst Ratings Changes

JPM has been the topic of several research analyst reports. Piper Sandler reiterated an “overweight” rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 15th. Cowen reiterated a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, July 16th. TD Cowen boosted their price objective on JPMorgan Chase & Co. from $350.00 to $370.00 and gave the company a “buy” rating in a report on Friday, October 3rd. UBS Group boosted their price objective on JPMorgan Chase & Co. from $339.00 to $350.00 and gave the company a “buy” rating in a report on Tuesday, October 7th. Finally, Robert W. Baird cut JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $235.00 price objective for the company. in a report on Friday, June 27th. Fifteen equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, JPMorgan Chase & Co. currently has a consensus rating of “Hold” and a consensus price target of $316.00.

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.