Ameritas Advisory Services LLC Cuts Position in JPMorgan Chase & Co. $JPM

Ameritas Advisory Services LLC lessened its stake in JPMorgan Chase & Co. (NYSE:JPM) by 44.9% in the second quarter, HoldingsChannel.com reports. The firm owned 19,178 shares of the financial services provider’s stock after selling 15,597 shares during the quarter. Ameritas Advisory Services LLC’s holdings in JPMorgan Chase & Co. were worth $5,560,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. MJT & Associates Financial Advisory Group Inc. purchased a new position in JPMorgan Chase & Co. during the 1st quarter valued at about $28,000. University of Illinois Foundation purchased a new position in JPMorgan Chase & Co. during the 1st quarter valued at about $30,000. Ryan Investment Management Inc. purchased a new position in JPMorgan Chase & Co. during the 2nd quarter valued at about $37,000. Christopher J. Hasenberg Inc increased its holdings 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 acquiring an additional 106 shares in the last quarter. Finally, Goodman Advisory Group LLC purchased a new position in JPMorgan Chase & Co. during the 1st quarter valued at about $76,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Price Performance

JPM opened at $305.35 on Friday. The company’s 50 day simple moving average is $301.37 and its 200 day simple moving average is $276.26. 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 1 year low of $202.16 and a 1 year high of $318.01. The stock has a market capitalization of $839.64 billion, a PE ratio of 15.67, a P/E/G ratio of 1.96 and a beta of 1.13.

JPMorgan Chase & Co. (NYSE:JPM) last released 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 business had revenue of $44.91 billion for the quarter, compared to analysts’ expectations of $43.76 billion. During the same period last year, the company earned $6.12 earnings per share. The company’s quarterly revenue was down 10.5% on a year-over-year basis. As a group, sell-side analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, October 6th will be given a $1.50 dividend. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. This represents a $6.00 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Monday, October 6th. JPMorgan Chase & Co.’s dividend payout ratio is 30.79%.

Insider Activity

In related news, Director Linda Bammann sold 9,500 shares of the firm’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 value of $2,830,430.00. Following the sale, the director directly owned 82,207 shares of the company’s stock, valued at approximately $24,492,753.58. This trade represents a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.47% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on JPM shares. TD Cowen raised their target price on shares of JPMorgan Chase & Co. from $350.00 to $370.00 and gave the company a “buy” rating in a report on Friday, October 3rd. Hsbc Global Res lowered shares of JPMorgan Chase & Co. from a “hold” rating to a “moderate sell” rating in a research report on Tuesday, July 8th. Piper Sandler reissued an “overweight” rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 15th. Evercore ISI upped their price objective on shares of JPMorgan Chase & Co. from $309.00 to $330.00 and gave the company an “outperform” rating in a research note on Tuesday, September 30th. 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. Fourteen research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $313.89.

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.