Costello Asset Management INC Sells 1,141 Shares of JPMorgan Chase & Co. $JPM

Costello Asset Management INC cut its stake in JPMorgan Chase & Co. (NYSE:JPMFree Report) by 17.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,335 shares of the financial services provider’s stock after selling 1,141 shares during the quarter. Costello Asset Management INC’s holdings in JPMorgan Chase & Co. were worth $1,547,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. MJT & Associates Financial Advisory Group Inc. purchased a new stake in shares of JPMorgan Chase & Co. in the 1st quarter worth about $28,000. University of Illinois Foundation purchased a new stake in shares of JPMorgan Chase & Co. in the 1st quarter worth about $30,000. Ryan Investment Management Inc. purchased a new stake in shares of JPMorgan Chase & Co. in the 2nd quarter worth about $37,000. Christopher J. Hasenberg Inc grew its position 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 period. Finally, Goodman Advisory Group LLC purchased a new stake in JPMorgan Chase & Co. during the 1st quarter valued at about $76,000. 71.55% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Linda Bammann sold 9,500 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the sale, the director 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 legal filing with the SEC, which is available through this link. 0.47% of the stock is currently owned by insiders.

JPMorgan Chase & Co. Stock Performance

Shares of NYSE JPM opened at $297.81 on Monday. The firm’s 50-day moving average price is $302.82 and its 200-day moving average price is $279.12. The company has a quick ratio of 0.88, a current ratio of 0.86 and a debt-to-equity ratio of 1.26. The company has a market cap of $818.91 billion, a PE ratio of 14.75, a PEG ratio of 1.80 and a beta of 1.13. JPMorgan Chase & Co. has a 52-week low of $202.16 and a 52-week high of $318.01.

JPMorgan Chase & Co. (NYSE:JPMGet Free Report) last announced its quarterly 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 $46.43 billion for the quarter, compared to the consensus estimate of $44.42 billion. JPMorgan Chase & Co. had a net margin of 20.90% and a return on equity of 17.18%. The business’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter last year, the firm posted $4.37 EPS. As a group, analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, October 6th will be issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.0%. 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. JPMorgan Chase & Co.’s payout ratio is 29.72%.

Analyst Ratings Changes

Several analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft increased their price objective on shares of JPMorgan Chase & Co. from $300.00 to $320.00 and gave the company a “hold” rating in a research report on Tuesday, September 30th. Robert W. Baird downgraded shares of JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $235.00 price objective on the stock. in a research report on Friday, June 27th. The Goldman Sachs Group reissued a “buy” rating and set a $366.00 price objective on shares of JPMorgan Chase & Co. in a research report on Tuesday, October 14th. Piper Sandler reissued an “overweight” rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 15th. Finally, Zacks Research downgraded shares of JPMorgan Chase & Co. from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 8th. Fifteen investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, JPMorgan Chase & Co. presently has a consensus rating of “Hold” and a consensus price target of $322.86.

Read Our Latest Stock Report on JPM

JPMorgan Chase & Co. Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

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