DAVENPORT & Co LLC Lowers Stock Position in JPMorgan Chase & Co. $JPM

DAVENPORT & Co LLC trimmed its position in JPMorgan Chase & Co. (NYSE:JPM) by 0.1% in the 2nd quarter, HoldingsChannel reports. The fund owned 586,514 shares of the financial services provider’s stock after selling 738 shares during the quarter. JPMorgan Chase & Co. makes up about 0.9% of DAVENPORT & Co LLC’s holdings, making the stock its 21st largest holding. DAVENPORT & Co LLC’s holdings in JPMorgan Chase & Co. were worth $169,725,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in JPM. LCM Capital Management Inc grew its stake in JPMorgan Chase & Co. by 0.9% in the second quarter. LCM Capital Management Inc now owns 3,847 shares of the financial services provider’s stock worth $1,115,000 after purchasing an additional 36 shares in the last quarter. jvl associates llc grew its stake in JPMorgan Chase & Co. by 1.7% in the second quarter. jvl associates llc now owns 2,094 shares of the financial services provider’s stock worth $607,000 after purchasing an additional 36 shares in the last quarter. Lakeshore Financial Planning Inc. lifted its holdings in JPMorgan Chase & Co. by 0.4% during the second quarter. Lakeshore Financial Planning Inc. now owns 8,417 shares of the financial services provider’s stock worth $2,441,000 after buying an additional 37 shares during the period. Western Financial Corp CA lifted its holdings in JPMorgan Chase & Co. by 1.5% during the second quarter. Western Financial Corp CA now owns 2,642 shares of the financial services provider’s stock worth $766,000 after buying an additional 38 shares during the period. Finally, First Command Advisory Services Inc. lifted its holdings in JPMorgan Chase & Co. by 0.4% during the first quarter. First Command Advisory Services Inc. now owns 9,306 shares of the financial services provider’s stock worth $2,283,000 after buying an additional 40 shares during the period. Institutional investors own 71.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. HSBC restated a “reduce” rating and set a $259.00 target price on shares of JPMorgan Chase & Co. in a report on Tuesday, July 8th. Piper Sandler restated an “overweight” rating on shares of JPMorgan Chase & Co. in a report on Tuesday, July 15th. Zacks Research lowered JPMorgan Chase & Co. from a “strong-buy” rating to a “hold” rating in a report on Monday, September 8th. Wells Fargo & Company upped their target price on JPMorgan Chase & Co. from $325.00 to $345.00 and gave the stock an “overweight” rating in a report on Tuesday, September 16th. Finally, Royal Bank Of Canada restated a “buy” rating on shares of JPMorgan Chase & Co. in a report on Thursday, September 11th. Fifteen analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $316.00.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock opened at $301.12 on Monday. The firm has a market capitalization of $828.00 billion, a price-to-earnings ratio of 15.45, a price-to-earnings-growth ratio of 1.94 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. The business has a fifty day moving average of $301.61 and a 200 day moving average of $276.98. JPMorgan Chase & Co. has a 1 year low of $202.16 and a 1 year high of $318.01.

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 analysts’ consensus estimates of $4.48 by $0.48. The company had revenue of $44.91 billion during the quarter, compared to analyst estimates of $43.76 billion. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.The firm’s quarterly revenue was down 10.5% on a year-over-year basis. During the same quarter last year, the business posted $6.12 EPS. As a group, research analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

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

Insider Transactions at JPMorgan Chase & Co.

In related news, Director Linda Bammann sold 9,500 shares of the firm’s stock in a transaction 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 owned 82,207 shares in the company, valued at $24,492,753.58. This trade represents a 10.36% decrease in their position. 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 company 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.