Logan Capital Management Inc. Sells 8,192 Shares of JPMorgan Chase & Co. $JPM

Logan Capital Management Inc. trimmed its stake in JPMorgan Chase & Co. (NYSE:JPM) by 9.4% during the second quarter, Holdings Channel reports. The fund owned 79,063 shares of the financial services provider’s stock after selling 8,192 shares during the quarter. JPMorgan Chase & Co. accounts for 1.1% of Logan Capital Management Inc.’s holdings, making the stock its 19th largest position. Logan Capital Management Inc.’s holdings in JPMorgan Chase & Co. were worth $22,921,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in JPM. Florida Financial Advisors LLC grew its position in JPMorgan Chase & Co. by 62.5% during the first quarter. Florida Financial Advisors LLC now owns 9,863 shares of the financial services provider’s stock worth $2,416,000 after buying an additional 3,792 shares in the last quarter. Mosaic Financial Group LLC lifted its position in shares of JPMorgan Chase & Co. by 0.8% in the 1st quarter. Mosaic Financial Group LLC now owns 9,296 shares of the financial services provider’s stock worth $2,280,000 after acquiring an additional 78 shares during the period. Morse Asset Management Inc grew its holdings in shares of JPMorgan Chase & Co. by 19.5% during the 1st quarter. Morse Asset Management Inc now owns 2,569 shares of the financial services provider’s stock worth $630,000 after purchasing an additional 420 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in shares of JPMorgan Chase & Co. by 11.1% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 15,648 shares of the financial services provider’s stock worth $3,838,000 after purchasing an additional 1,561 shares in the last quarter. Finally, Woodward Diversified Capital LLC increased its position in shares of JPMorgan Chase & Co. by 3.4% during the first quarter. Woodward Diversified Capital LLC now owns 8,032 shares of the financial services provider’s stock valued at $1,970,000 after purchasing an additional 263 shares during the period. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on JPM shares. DZ Bank reiterated a “neutral” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, October 15th. Loop Capital set a $310.00 price objective on shares of JPMorgan Chase & Co. in a report on Thursday, October 23rd. The Goldman Sachs Group reiterated a “buy” rating and set a $366.00 target price on shares of JPMorgan Chase & Co. in a research report on Tuesday, October 14th. Truist Financial upped their target price 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. Finally, Zacks Research upgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 20th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $326.38.

JPMorgan Chase & Co. Trading Up 0.6%

Shares of JPMorgan Chase & Co. stock opened at $313.63 on Friday. JPMorgan Chase & Co. has a 12-month low of $202.16 and a 12-month high of $318.01. The stock has a market capitalization of $862.40 billion, a P/E ratio of 15.53, a price-to-earnings-growth ratio of 1.84 and a beta of 1.14. The company has a 50-day simple moving average of $305.92 and a 200 day simple moving average of $286.33. The company has a quick ratio of 0.88, a current ratio of 0.86 and a debt-to-equity ratio of 1.26.

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

JPMorgan Chase & Co. Increases Dividend

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

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, Director Linda Bammann sold 9,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the transaction, the director directly owned 82,207 shares in the company, valued at approximately $24,492,753.58. This represents a 10.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.47% of the company’s stock.

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.