Equitable Trust Co. Sells 1,996 Shares of JPMorgan Chase & Co. $JPM

Equitable Trust Co. cut its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 3.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 58,209 shares of the financial services provider’s stock after selling 1,996 shares during the quarter. Equitable Trust Co.’s holdings in JPMorgan Chase & Co. were worth $16,875,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. MJT & Associates Financial Advisory Group Inc. bought a new stake in JPMorgan Chase & Co. during the first quarter valued at about $28,000. University of Illinois Foundation bought a new stake in JPMorgan Chase & Co. during the first quarter valued at about $30,000. Ryan Investment Management Inc. bought a new stake in JPMorgan Chase & Co. during the second quarter valued at about $37,000. Christopher J. Hasenberg Inc raised its holdings in JPMorgan Chase & Co. by 212.0% during the second quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 106 shares during the period. Finally, Goodman Advisory Group LLC bought a new stake in shares of JPMorgan Chase & Co. in the first quarter worth about $76,000. 71.55% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the business’s stock in a transaction that occurred on 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 sale, the director directly owned 82,207 shares of the company’s stock, valued at $24,492,753.58. The trade was a 10.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.47% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

JPM has been the topic of several research reports. Dbs Bank raised JPMorgan Chase & Co. to a “hold” rating in a report on Tuesday. Weiss Ratings reaffirmed a “buy (b+)” rating on shares of JPMorgan Chase & Co. in a report on Wednesday, October 8th. UBS Group lifted their target price on JPMorgan Chase & Co. from $339.00 to $350.00 and gave the stock a “buy” rating in a report on Tuesday, October 7th. Truist Financial lifted their target price 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, Wells Fargo & Company lifted their target price on JPMorgan Chase & Co. from $325.00 to $345.00 and gave the stock an “overweight” rating in a report on Tuesday, September 16th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, JPMorgan Chase & Co. presently has a consensus rating of “Moderate Buy” and a consensus target price of $322.27.

JPMorgan Chase & Co. Trading Up 1.9%

Shares of NYSE JPM opened at $300.27 on Friday. The business’s 50 day moving average is $303.43 and its two-hundred day moving average is $281.11. 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. has a 1-year low of $202.16 and a 1-year high of $318.01. The stock has a market capitalization of $825.66 billion, a P/E ratio of 14.87, a PEG ratio of 1.77 and a beta of 1.13.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share for the quarter, topping the consensus estimate of $4.83 by $0.24. JPMorgan Chase & Co. had a return on equity of 17.18% and a net margin of 20.90%.The company had revenue of $46.43 billion for the quarter, compared to analysts’ expectations of $44.42 billion. During the same period in the previous year, the firm posted $4.37 earnings per share. The firm’s revenue for the quarter was up 8.8% on a year-over-year basis. As a group, research analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

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

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.