JPMorgan Chase & Co. $JPM Stock: Means Investment CO. Inc. Lowers Position

Means Investment CO. Inc. reduced its position in JPMorgan Chase & Co. (NYSE:JPM) by 5.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 60,481 shares of the financial services provider’s stock after selling 3,641 shares during the quarter. JPMorgan Chase & Co. accounts for about 1.4% of Means Investment CO. Inc.’s holdings, making the stock its 18th largest holding. Means Investment CO. Inc.’s holdings in JPMorgan Chase & Co. were worth $20,009,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Paragon Advisors LLC purchased a new position in shares of JPMorgan Chase & Co. in the third quarter worth $212,000. M Holdings Securities Inc. raised its holdings in shares of JPMorgan Chase & Co. by 0.6% during the third quarter. M Holdings Securities Inc. now owns 75,646 shares of the financial services provider’s stock valued at $25,678,000 after acquiring an additional 432 shares in the last quarter. Brighton Jones LLC raised its holdings in shares of JPMorgan Chase & Co. by 7.7% during the third quarter. Brighton Jones LLC now owns 75,861 shares of the financial services provider’s stock valued at $25,097,000 after acquiring an additional 5,455 shares in the last quarter. American State Bank Iowa lifted its stake in JPMorgan Chase & Co. by 2.1% in the third quarter. American State Bank Iowa now owns 8,109 shares of the financial services provider’s stock worth $2,683,000 after acquiring an additional 170 shares during the period. Finally, Chapman Investment Management LLC boosted its holdings in JPMorgan Chase & Co. by 200.0% in the third quarter. Chapman Investment Management LLC now owns 9,521 shares of the financial services provider’s stock valued at $3,150,000 after acquiring an additional 19,042 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Key Stories Impacting JPMorgan Chase & Co.

Here are a few of the latest stories about JPM:

• Neutral Sentiment: Hot inflation has renewed attention to Federal Reserve rate risks. Higher rates may affect bank earnings in multiple ways, while the article highlights JPMorgan’s liquidity and earnings resilience rather than identifying a new company-specific development. Article: Inflation Stays Hot: 3 Financial Stocks to Watch
• Neutral Sentiment: JPM was up 2.4% since its latest earnings report, according to Zacks. However, the quarter cited in the supplied background missed analyst EPS and revenue estimates despite year-over-year revenue growth, leaving the earnings picture mixed. Article: JPMorgan Up Since Last Earnings Report
• Negative Sentiment: A report notes that JPMorgan’s CFO has warned of weaker credit ahead. Potential deterioration in borrowers’ ability to repay could raise credit costs and pressure earnings, tempering the positive case for the bank’s dividend increase and long-term returns. Article: America’s Biggest Bank Turned $1,000 Into $5,559 in Ten Years

JPMorgan Chase & Co. Trading Down 0.1%

NYSE:JPM opened at $343.10 on Friday. The stock has a market cap of $911.15 billion, a price-to-earnings ratio of 14.39, a PEG ratio of 1.36 and a beta of 1.03. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.31. The company’s 50 day moving average price is $340.80 and its 200-day moving average price is $324.61. JPMorgan Chase & Co. has a 52 week low of $279.10 and a 52 week high of $366.50.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data on Tuesday, October 13th. The financial services provider reported $5.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.94 by ($0.19). JPMorgan Chase & Co. had a net margin of 21.85% and a return on equity of 18.48%. The business had revenue of $50.17 billion during the quarter, compared to the consensus estimate of $51.23 billion. During the same period last year, the company posted $5.07 earnings per share. The business’s revenue was up 8.1% compared to the same quarter last year. On average, equities research analysts forecast that JPMorgan Chase & Co. will post 23.95 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 Saturday, October 31st. Stockholders of record on Tuesday, October 6th were issued a dividend of $1.65 per share. The ex-dividend date of this dividend was Tuesday, October 6th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.50. This represents a $6.60 annualized dividend and a dividend yield of 1.9%. JPMorgan Chase & Co.’s dividend payout ratio is presently 27.68%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on JPM shares. Citigroup cut their target price on shares of JPMorgan Chase & Co. from $360.00 to $350.00 and set a “neutral” rating on the stock in a research note on Thursday, October 15th. Truist Financial lifted their price objective on JPMorgan Chase & Co. from $352.00 to $361.00 and gave the company a “hold” rating in a research report on Wednesday, October 14th. HSBC increased their price objective on JPMorgan Chase & Co. from $369.00 to $377.00 and gave the stock a “hold” rating in a report on Monday, September 28th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $370.00 target price on shares of JPMorgan Chase & Co. in a research report on Wednesday, October 14th. Finally, Bank of America increased their price target on shares of JPMorgan Chase & Co. from $408.00 to $420.00 and gave the stock a “buy” rating in a research note on Thursday, July 16th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and thirteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat, JPMorgan Chase & Co. has an average rating of “Moderate Buy” and a consensus target price of $368.33.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, insider Robin Leopold sold 2,500 shares of the firm’s stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $352.81, for a total value of $882,025.00. Following the transaction, the insider directly owned 71,047 shares in the company, valued at $25,066,092.07. This trade represents a 3.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.41% of the stock is owned by insiders.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co. is a global financial services company serving consumers, businesses, institutional clients and governments. Its operations include consumer and community banking, corporate and investment banking, commercial banking, and asset and wealth management. The company offers services such as deposit accounts, credit cards, mortgages, auto financing, lending, payment processing and investment advice. It also provides institutional clients with investment banking, markets, treasury and securities services, and commercial lending.