JPMorgan Chase & Co. $JPM Shares Sold by Patton Albertson Miller Group LLC

Patton Albertson Miller Group LLC trimmed its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 0.8% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 44,871 shares of the financial services provider’s stock after selling 342 shares during the quarter. JPMorgan Chase & Co. comprises approximately 1.7% of Patton Albertson Miller Group LLC’s portfolio, making the stock its 11th biggest position. Patton Albertson Miller Group LLC’s holdings in JPMorgan Chase & Co. were worth $13,009,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. MJT & Associates Financial Advisory Group Inc. acquired a new position 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 lifted 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 buying an additional 106 shares during the last quarter. 71.55% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Linda Bammann sold 9,500 shares of the company’s stock in a transaction on 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 transaction, the director 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 legal filing with the SEC, which is available at this link. 0.47% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on JPM. Wells Fargo & Company boosted their price objective on JPMorgan Chase & Co. from $325.00 to $345.00 and gave the company an “overweight” rating in a research note on Tuesday, September 16th. The Goldman Sachs Group set a $330.00 price objective on JPMorgan Chase & Co. in a research note on Tuesday. Piper Sandler reiterated 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 price objective on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 8th. Finally, Royal Bank Of Canada reiterated a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Thursday, September 11th. Thirteen research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $303.45.

JPMorgan Chase & Co. Price Performance

JPMorgan Chase & Co. stock opened at $307.65 on Friday. The business has a 50 day simple moving average of $300.44 and a 200-day simple moving average of $273.96. 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 $845.96 billion, a PE ratio of 15.79, a price-to-earnings-growth ratio of 2.05 and a beta of 1.13. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.88.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data 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. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.The firm had revenue of $44.91 billion for the quarter, compared to analyst estimates of $43.76 billion. During the same quarter in the prior year, the company posted $6.12 earnings per share. JPMorgan Chase & Co.’s quarterly revenue was down 10.5% on a year-over-year basis. Equities analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, October 6th will be issued a dividend of $1.50 per share. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. This represents a $6.00 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Monday, October 6th. JPMorgan Chase & Co.’s dividend payout ratio is currently 28.73%.

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.