Sterneck Capital Management LLC Has $1.49 Million Position in JPMorgan Chase & Co. $JPM

Sterneck Capital Management LLC lessened its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 2.3% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,137 shares of the financial services provider’s stock after selling 123 shares during the period. JPMorgan Chase & Co. accounts for about 0.8% of Sterneck Capital Management LLC’s portfolio, making the stock its 27th largest position. Sterneck Capital Management LLC’s holdings in JPMorgan Chase & Co. were worth $1,489,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of JPM. MJT & Associates Financial Advisory Group Inc. bought a new stake in JPMorgan Chase & Co. during the 1st quarter valued at $28,000. University of Illinois Foundation bought a new stake in JPMorgan Chase & Co. during the 1st quarter valued at $30,000. Curat Global LLC bought a new stake in JPMorgan Chase & Co. during the 1st quarter valued at $33,000. Ryan Investment Management Inc. bought a new stake in JPMorgan Chase & Co. during the 2nd quarter valued at $37,000. Finally, Christopher J. Hasenberg Inc increased its stake in 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 purchasing an additional 106 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Price Performance

Shares of NYSE:JPM opened at $310.82 on Thursday. The company’s 50-day moving average is $300.22 and its 200 day moving average is $273.45. 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 company has a market capitalization of $854.68 billion, a P/E ratio of 15.95, a price-to-earnings-growth ratio of 2.08 and a beta of 1.13. JPMorgan Chase & Co. has a fifty-two week low of $202.16 and a fifty-two week high of $318.01.

JPMorgan Chase & Co. (NYSE:JPM) last issued 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 for the quarter, compared to the consensus estimate of $43.76 billion. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The firm’s quarterly revenue was down 10.5% on a year-over-year basis. During the same period in the previous year, the firm earned $6.12 EPS. On average, equities research analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current 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 issued a $1.50 dividend. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Monday, October 6th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.9%. JPMorgan Chase & Co.’s payout ratio is presently 28.73%.

Analyst Ratings Changes

A number of brokerages have commented on JPM. Piper Sandler restated an “overweight” rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 15th. HSBC reiterated a “reduce” rating and issued a $259.00 target price on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 8th. Evercore ISI upped their target price on shares of JPMorgan Chase & Co. from $309.00 to $330.00 and gave the stock an “outperform” rating in a research note on Tuesday. Morgan Stanley upped their target price on shares of JPMorgan Chase & Co. from $298.00 to $336.00 and gave the stock an “equal weight” rating in a research note on Monday. Finally, Baird R W lowered shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research note on Friday, June 27th. Thirteen investment 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. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $303.45.

Insider Buying and Selling at JPMorgan Chase & Co.

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

JPMorgan Chase & Co. 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.