Twin City Private Wealth LLC Reduces Position in JPMorgan Chase & Co. $JPM

Twin City Private Wealth LLC decreased its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 33.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,396 shares of the financial services provider’s stock after selling 6,136 shares during the period. JPMorgan Chase & Co. accounts for 2.9% of Twin City Private Wealth LLC’s investment portfolio, making the stock its 2nd biggest holding. Twin City Private Wealth LLC’s holdings in JPMorgan Chase & Co. were worth $3,594,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Kingstone Capital Partners Texas LLC grew its holdings in JPMorgan Chase & Co. by 609,867.5% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 72,897,211 shares of the financial services provider’s stock valued at $21,133,630,000 after buying an additional 72,885,260 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of JPMorgan Chase & Co. by 2.7% during the first quarter. Goldman Sachs Group Inc. now owns 20,548,182 shares of the financial services provider’s stock worth $5,040,469,000 after buying an additional 548,853 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of JPMorgan Chase & Co. by 5.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 18,441,044 shares of the financial services provider’s stock valued at $4,523,588,000 after acquiring an additional 890,553 shares during the period. Nuveen LLC bought a new stake in shares of JPMorgan Chase & Co. in the first quarter valued at approximately $3,972,807,000. Finally, Invesco Ltd. grew its stake in shares of JPMorgan Chase & Co. by 4.1% in the first quarter. Invesco Ltd. now owns 13,754,558 shares of the financial services provider’s stock worth $3,373,993,000 after acquiring an additional 547,110 shares during the last quarter. 71.55% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Bank of America upped their target price on shares of JPMorgan Chase & Co. from $330.00 to $340.00 and gave the company a “buy” rating in a research note on Wednesday, July 16th. Barclays upped their price objective on shares of JPMorgan Chase & Co. from $330.00 to $342.00 and gave the company an “overweight” rating in a research report on Wednesday, October 15th. Zacks Research raised JPMorgan Chase & Co. from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 20th. Deutsche Bank Aktiengesellschaft boosted their price target on JPMorgan Chase & Co. from $300.00 to $320.00 and gave the company a “hold” rating in a research note on Tuesday, September 30th. Finally, Truist Financial raised their price objective on JPMorgan Chase & Co. from $290.00 to $319.00 and gave the stock a “hold” rating in a research report on Tuesday, September 23rd. One research 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 has an average rating of “Moderate Buy” and a consensus price target of $326.38.

JPMorgan Chase & Co. Stock Up 0.8%

NYSE JPM opened at $316.69 on Tuesday. JPMorgan Chase & Co. has a 1-year low of $202.16 and a 1-year high of $319.56. The company has a market capitalization of $862.11 billion, a price-to-earnings ratio of 15.69, a PEG ratio of 1.84 and a beta of 1.14. The stock’s 50 day moving average is $306.48 and its two-hundred day moving average is $288.11. The company has a current ratio of 0.86, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.83 by $0.24. The business had revenue of $46.43 billion during the quarter, compared to analysts’ expectations of $44.42 billion. JPMorgan Chase & Co. had a return on equity of 17.18% and a net margin of 20.90%.JPMorgan Chase & Co.’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.37 EPS. Equities analysts forecast 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. Shareholders 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 is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.9%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 29.72%.

Insiders Place Their Bets

In related news, insider Robin Leopold sold 966 shares of the stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $311.92, for a total transaction of $301,314.72. Following the completion of the sale, 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. 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 transaction, the director directly owned 82,207 shares of the company’s stock, valued at $24,492,753.58. This represents a 10.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.47% of the stock is currently owned by company insiders.

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.