JPMorgan Chase & Co. $JPM Stake Decreased by Founders Capital Management

Founders Capital Management cut its stake 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 fund owned 34,337 shares of the financial services provider’s stock after selling 369 shares during the period. JPMorgan Chase & Co. comprises about 6.0% of Founders Capital Management’s investment portfolio, making the stock its 3rd largest position. Founders Capital Management’s holdings in JPMorgan Chase & Co. were worth $9,955,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. MJT & Associates Financial Advisory Group Inc. bought a new position in shares of JPMorgan Chase & Co. in the first quarter worth about $28,000. University of Illinois Foundation bought a new position in JPMorgan Chase & Co. during the 1st quarter worth about $30,000. Ryan Investment Management Inc. bought a new position in JPMorgan Chase & Co. during the 2nd quarter worth about $37,000. Christopher J. Hasenberg Inc grew 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 worth $45,000 after acquiring an additional 106 shares in the last quarter. Finally, Goodman Advisory Group LLC bought a new position in JPMorgan Chase & Co. during the 1st quarter worth about $76,000. 71.55% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on JPM. The Goldman Sachs Group increased their target price on shares of JPMorgan Chase & Co. from $336.00 to $350.00 and gave the stock a “buy” rating in a report on Friday, October 3rd. Truist Financial increased their target price on shares of JPMorgan Chase & Co. from $290.00 to $319.00 and gave the stock a “hold” rating in a report on Tuesday, September 23rd. Royal Bank Of Canada reiterated a “buy” rating on shares of JPMorgan Chase & Co. in a report on Thursday, September 11th. Citigroup increased their target price on shares of JPMorgan Chase & Co. from $275.00 to $325.00 and gave the stock a “neutral” rating in a report on Wednesday, September 24th. Finally, Keefe, Bruyette & Woods raised their price target on shares of JPMorgan Chase & Co. from $327.00 to $330.00 and gave the company an “outperform” rating in a report on Wednesday, July 16th. Fifteen investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $309.95.

JPMorgan Chase & Co. Stock Down 0.5%

NYSE:JPM opened at $307.61 on Wednesday. JPMorgan Chase & Co. has a fifty-two week low of $202.16 and a fifty-two week high of $318.01. The stock has a market capitalization of $845.85 billion, a P/E ratio of 15.78, a P/E/G ratio of 2.03 and a beta of 1.13. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.88 and a current ratio of 0.88. The company’s 50-day simple moving average is $301.10 and its 200-day simple moving average is $275.67.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, beating the consensus estimate of $4.48 by $0.48. The firm had revenue of $44.91 billion during the quarter, compared to analyst estimates of $43.76 billion. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. JPMorgan Chase & Co.’s revenue was down 10.5% on a year-over-year basis. During the same period last year, the firm posted $6.12 EPS. On average, equities analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed 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 represents a $6.00 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Monday, October 6th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. JPMorgan Chase & Co.’s payout ratio is 30.79%.

Insider Activity at JPMorgan Chase & Co.

In related news, Director Linda Bammann sold 9,500 shares of the 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 completion of the transaction, the director directly owned 82,207 shares of the company’s stock, valued at $24,492,753.58. This trade represents a 10.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.47% of the stock is owned by insiders.

About JPMorgan Chase & Co.

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.