AM Investment Strategies LLC Trims Stock Position in JPMorgan Chase & Co. $JPM

AM Investment Strategies LLC cut its position in JPMorgan Chase & Co. (NYSE:JPM) by 1.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,786 shares of the financial services provider’s stock after selling 274 shares during the quarter. JPMorgan Chase & Co. comprises 1.8% of AM Investment Strategies LLC’s investment portfolio, making the stock its 16th biggest position. AM Investment Strategies LLC’s holdings in JPMorgan Chase & Co. were worth $7,475,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in JPM. MJT & Associates Financial Advisory Group Inc. bought a new stake in shares of JPMorgan Chase & Co. during the 1st quarter valued at about $28,000. University of Illinois Foundation purchased a new stake in JPMorgan Chase & Co. in the first quarter valued at approximately $30,000. Ryan Investment Management Inc. bought a new stake in JPMorgan Chase & Co. during the second quarter valued at approximately $37,000. Curat Global LLC purchased a new position in JPMorgan Chase & Co. in the 1st quarter worth approximately $33,000. Finally, Christopher J. Hasenberg Inc increased its holdings 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 buying an additional 106 shares during the last quarter. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

JPM has been the subject of a number of research analyst reports. Evercore ISI set a $298.00 price objective on shares of JPMorgan Chase & Co. and gave the stock an “outperform” rating in a report on Monday, July 7th. Cowen reaffirmed a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, July 16th. TD Securities reiterated a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, June 4th. Truist Financial boosted their target price on JPMorgan Chase & Co. from $290.00 to $319.00 and gave the stock a “hold” rating in a research report on Tuesday. Finally, HSBC reaffirmed a “reduce” rating and issued a $259.00 target price on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 8th. Thirteen research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $297.17.

Insider Transactions at JPMorgan Chase & Co.

In related news, Director Linda Bammann sold 9,500 shares of the business’s stock in a transaction dated 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 in the company, valued at $24,492,753.58. The trade was a 10.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.47% of the stock is currently owned by corporate insiders.

JPMorgan Chase & Co. Stock Up 0.0%

Shares of NYSE JPM opened at $313.48 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.25. JPMorgan Chase & Co. has a 52 week low of $202.16 and a 52 week high of $316.58. The firm’s fifty day moving average is $298.46 and its 200 day moving average is $271.08. The company has a market cap of $862.00 billion, a price-to-earnings ratio of 16.08, a PEG ratio of 2.06 and a beta of 1.13.

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

JPMorgan Chase & Co. Increases Dividend

The firm 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. The ex-dividend date of this dividend is Monday, October 6th. 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 1.9%. JPMorgan Chase & Co.’s payout ratio is 28.73%.

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.