JPMorgan Chase & Co. $JPM Stock Holdings Lessened by Stone Summit Wealth LLC

Stone Summit Wealth LLC trimmed its position in JPMorgan Chase & Co. (NYSE:JPM) by 1.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,424 shares of the financial services provider’s stock after selling 343 shares during the quarter. JPMorgan Chase & Co. makes up approximately 2.7% of Stone Summit Wealth LLC’s portfolio, making the stock its 4th biggest holding. Stone Summit Wealth LLC’s holdings in JPMorgan Chase & Co. were worth $8,820,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. MJT & Associates Financial Advisory Group Inc. purchased a new stake in JPMorgan Chase & Co. in the first quarter valued at approximately $28,000. University of Illinois Foundation purchased a new stake in JPMorgan Chase & Co. in the first quarter valued at approximately $30,000. Curat Global LLC purchased a new stake in JPMorgan Chase & Co. in the first quarter valued at approximately $33,000. Ryan Investment Management Inc. purchased a new stake in JPMorgan Chase & Co. in the second quarter valued at approximately $37,000. Finally, Christopher J. Hasenberg Inc raised its stake in JPMorgan Chase & Co. by 212.0% in the second 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. 71.55% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Phillip Securities downgraded shares of JPMorgan Chase & Co. from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, July 16th. Morgan Stanley lifted their price target 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. Citigroup lifted their price target on shares of JPMorgan Chase & Co. from $275.00 to $325.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 24th. HSBC reissued a “reduce” rating and set a $259.00 price target on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 8th. Finally, Truist Financial lifted their price target on shares of JPMorgan Chase & Co. from $290.00 to $319.00 and gave the stock a “hold” rating in a research note on Tuesday, September 23rd. Thirteen equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $303.45.

Insiders Place Their Bets

In related news, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction on 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 sale, the director owned 82,207 shares in the company, valued at $24,492,753.58. The trade was a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.47% of the stock is currently owned by company insiders.

JPMorgan Chase & Co. Stock Down 1.0%

Shares of JPMorgan Chase & Co. stock opened at $307.65 on Friday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.88 and a current ratio of 0.88. JPMorgan Chase & Co. has a 52-week low of $202.16 and a 52-week high of $318.01. The stock has a market capitalization of $845.96 billion, a price-to-earnings ratio of 15.79, a P/E/G ratio of 2.05 and a beta of 1.13. The company’s 50 day moving average price is $300.44 and its 200-day moving average price is $273.96.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $43.76 billion. During the same quarter last year, the business earned $6.12 earnings per share. The business’s revenue was down 10.5% on a year-over-year basis. Equities research analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS 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 represents a $6.00 annualized dividend and a yield of 2.0%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. The ex-dividend date is Monday, October 6th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 28.73%.

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.