Robertson Stephens Wealth Management LLC Decreases Stock Position in JPMorgan Chase & Co. $JPM

Robertson Stephens Wealth Management LLC cut its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 9.8% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 37,229 shares of the financial services provider’s stock after selling 4,050 shares during the quarter. Robertson Stephens Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $10,793,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Kingstone Capital Partners Texas LLC raised its stake in JPMorgan Chase & Co. by 609,867.5% in 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 last quarter. Bank of New York Mellon Corp raised its stake in JPMorgan Chase & Co. by 1.9% in the 1st quarter. Bank of New York Mellon Corp now owns 24,801,153 shares of the financial services provider’s stock valued at $6,083,723,000 after purchasing an additional 454,226 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in JPMorgan Chase & Co. by 2.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 20,548,182 shares of the financial services provider’s stock valued at $5,040,469,000 after purchasing an additional 548,853 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in JPMorgan Chase & Co. by 5.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 18,441,044 shares of the financial services provider’s stock valued at $4,523,588,000 after purchasing an additional 890,553 shares during the last quarter. Finally, Nuveen LLC acquired a new position in JPMorgan Chase & Co. in the 1st quarter valued at about $3,972,807,000. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Stock Down 0.2%

Shares of NYSE:JPM opened at $297.81 on Monday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.86. JPMorgan Chase & Co. has a 1 year low of $202.16 and a 1 year high of $318.01. The stock has a market capitalization of $818.91 billion, a P/E ratio of 14.75, a PEG ratio of 1.80 and a beta of 1.13. The stock has a 50-day simple moving average of $302.82 and a 200-day simple moving average of $279.12.

JPMorgan Chase & Co. (NYSE:JPM) last issued 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 return on equity of 17.18% and a net margin of 20.90%.The business had revenue of $46.43 billion during the quarter, compared to analysts’ expectations of $44.42 billion. During the same quarter in the previous year, the business earned $4.37 EPS. The company’s revenue for the quarter was up 8.8% on a year-over-year basis. Equities analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, October 6th will be issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Monday, October 6th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 29.72%.

Insider Activity

In other news, Director Linda Bammann sold 9,500 shares of the business’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 completion of the sale, the director owned 82,207 shares in the company, valued at approximately $24,492,753.58. The trade was a 10.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.47% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on JPM shares. Daiwa Capital Markets boosted their target price on shares of JPMorgan Chase & Co. from $330.00 to $332.00 and gave the company an “outperform” rating in a research note on Wednesday, October 8th. Truist Financial upped their price objective on shares of JPMorgan Chase & Co. from $290.00 to $319.00 and gave the company a “hold” rating in a research note on Tuesday, September 23rd. Piper Sandler reaffirmed an “overweight” rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 15th. UBS Group upped their price objective on shares of JPMorgan Chase & Co. from $339.00 to $350.00 and gave the company a “buy” rating in a research note on Tuesday, October 7th. Finally, Evercore ISI upped their price objective on shares of JPMorgan Chase & Co. from $309.00 to $330.00 and gave the company an “outperform” rating in a research note on Tuesday, September 30th. Fifteen research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, JPMorgan Chase & Co. has a consensus rating of “Hold” and a consensus target price of $322.86.

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.