JPMorgan Chase & Co. $JPM Stock Position Lessened by Wedbush Securities Inc.

Wedbush Securities Inc. lessened its stake in JPMorgan Chase & Co. (NYSE:JPM) by 3.3% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 86,029 shares of the financial services provider’s stock after selling 2,978 shares during the quarter. JPMorgan Chase & Co. comprises 0.9% of Wedbush Securities Inc.’s holdings, making the stock its 14th biggest position. Wedbush Securities Inc.’s holdings in JPMorgan Chase & Co. were worth $24,941,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Harbor Asset Planning Inc. acquired a new position in shares of JPMorgan Chase & Co. during the 2nd quarter valued at $26,000. MJT & Associates Financial Advisory Group Inc. acquired a new position in JPMorgan Chase & Co. during the first quarter worth about $28,000. University of Illinois Foundation acquired a new stake in JPMorgan Chase & Co. in the 1st quarter valued at about $30,000. Ryan Investment Management Inc. bought a new position in shares of JPMorgan Chase & Co. during the 2nd quarter valued at about $37,000. Finally, Christopher J. Hasenberg Inc grew its stake in shares of JPMorgan Chase & Co. by 212.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 106 shares during the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

Shares of NYSE JPM opened at $300.30 on Tuesday. The business’s 50-day moving average price is $307.66 and its two-hundred day moving average price is $290.41. JPMorgan Chase & Co. has a one year low of $202.16 and a one year high of $322.25. The company has a market capitalization of $817.48 billion, a P/E ratio of 14.87, a price-to-earnings-growth ratio of 1.84 and a beta of 1.14. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.86 and a quick ratio of 0.88.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.83 by $0.24. The firm had revenue of $47.12 billion during the quarter, compared to analysts’ expectations of $44.42 billion. JPMorgan Chase & Co. had a net margin of 20.90% and a return on equity of 17.18%. The company’s revenue was up 8.8% compared to the same quarter last year. During the same period in the previous year, the company earned $4.37 earnings per share. 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 was paid on Friday, October 31st. Stockholders of record on Monday, October 6th were issued a dividend of $1.50 per share. The ex-dividend date of this dividend was Monday, October 6th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.0%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. JPMorgan Chase & Co.’s payout ratio is currently 29.72%.

Insider Buying and Selling

In other news, Director Linda Bammann sold 9,500 shares of the business’s stock in a transaction 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 sale, the director directly owned 82,207 shares in the company, valued at approximately $24,492,753.58. The trade was a 10.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Robin Leopold sold 966 shares of JPMorgan Chase & Co. stock in a transaction on Friday, November 7th. The stock was sold at an average price of $311.92, for a total transaction of $301,314.72. Following the completion of the transaction, the insider owned 58,479 shares in the company, valued at $18,240,769.68. This trade represents a 1.63% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Loop Capital set a $310.00 price target on shares of JPMorgan Chase & Co. in a research report on Thursday, October 23rd. Wells Fargo & Company boosted their target price on JPMorgan Chase & Co. from $345.00 to $350.00 and gave the stock an “overweight” rating in a research report on Monday, November 3rd. UBS Group lifted their price target on JPMorgan Chase & Co. from $339.00 to $350.00 and gave the stock a “buy” rating in a research note on Tuesday, October 7th. Truist Financial boosted their price objective on JPMorgan Chase & Co. from $290.00 to $319.00 and gave the stock a “hold” rating in a report on Tuesday, September 23rd. Finally, Zacks Research upgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “strong-buy” rating in a report on Monday, October 20th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $326.38.

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.