Advisors Management Group Inc. ADV Lowers Stock Position in JPMorgan Chase & Co. $JPM

Advisors Management Group Inc. ADV cut its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,113 shares of the financial services provider’s stock after selling 375 shares during the period. JPMorgan Chase & Co. makes up 1.2% of Advisors Management Group Inc. ADV’s holdings, making the stock its 22nd biggest holding. Advisors Management Group Inc. ADV’s holdings in JPMorgan Chase & Co. were worth $6,411,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Twelve Points Wealth Management LLC boosted its position in shares of JPMorgan Chase & Co. by 0.3% during the 2nd quarter. Twelve Points Wealth Management LLC now owns 15,080 shares of the financial services provider’s stock worth $4,372,000 after purchasing an additional 45 shares during the period. Signaturefd LLC lifted its stake in JPMorgan Chase & Co. by 3.5% during the second quarter. Signaturefd LLC now owns 78,785 shares of the financial services provider’s stock worth $22,840,000 after purchasing an additional 2,668 shares in the last quarter. First American Bank boosted its position in shares of JPMorgan Chase & Co. by 3.4% during the second quarter. First American Bank now owns 131,533 shares of the financial services provider’s stock worth $38,133,000 after buying an additional 4,296 shares during the period. Gradient Capital Advisors LLC grew its stake in shares of JPMorgan Chase & Co. by 1.0% in the second quarter. Gradient Capital Advisors LLC now owns 24,274 shares of the financial services provider’s stock valued at $7,037,000 after buying an additional 245 shares in the last quarter. Finally, Asset Allocation & Management Company LLC purchased a new stake in shares of JPMorgan Chase & Co. in the 2nd quarter valued at $201,000. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft increased their target price on JPMorgan Chase & Co. from $300.00 to $320.00 and gave the stock a “hold” rating in a research note on Tuesday. Truist Financial raised 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. HSBC restated a “reduce” rating and issued a $259.00 price objective on shares of JPMorgan Chase & Co. in a report on Tuesday, July 8th. The Goldman Sachs Group set a $330.00 target price on shares of JPMorgan Chase & Co. in a report on Tuesday. Finally, 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. Thirteen analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $303.45.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock opened at $315.53 on Wednesday. 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 firm has a fifty day moving average price of $299.93 and a 200 day moving average price of $273.19. The company has a market cap of $867.63 billion, a P/E ratio of 16.19, a PEG ratio of 2.08 and a beta of 1.13. JPMorgan Chase & Co. has a 12 month low of $202.16 and a 12 month high of $318.01.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share for the quarter, beating analysts’ consensus estimates of $4.48 by $0.48. The company had revenue of $44.91 billion for 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% on a year-over-year basis. During the same period last year, the firm earned $6.12 earnings per share. Sell-side analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, October 6th will be given a dividend of $1.50 per share. This is a boost 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 annualized dividend and a dividend yield of 1.9%. JPMorgan Chase & Co.’s dividend payout ratio is 28.73%.

Insiders Place Their Bets

In related news, Director Linda Bammann sold 9,500 shares of the company’s stock in a transaction that occurred on 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 directly owned 82,207 shares of the company’s stock, valued at $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 SEC, which is available through this hyperlink. 0.47% of the stock is currently owned by insiders.

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.