JPMorgan Chase & Co. $JPM is Pinnacle West Asset Management Inc.’s 5th Largest Position

Pinnacle West Asset Management Inc. reduced its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 2.2% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,590 shares of the financial services provider’s stock after selling 335 shares during the period. JPMorgan Chase & Co. makes up 2.9% of Pinnacle West Asset Management Inc.’s portfolio, making the stock its 5th largest holding. Pinnacle West Asset Management Inc.’s holdings in JPMorgan Chase & Co. were worth $4,230,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Florida Financial Advisors LLC boosted its stake in shares of JPMorgan Chase & Co. by 62.5% during the 1st quarter. Florida Financial Advisors LLC now owns 9,863 shares of the financial services provider’s stock worth $2,416,000 after purchasing an additional 3,792 shares during the period. Crown Wealth Group LLC boosted its stake in shares of JPMorgan Chase & Co. by 5.4% during the 1st quarter. Crown Wealth Group LLC now owns 4,320 shares of the financial services provider’s stock worth $1,060,000 after purchasing an additional 222 shares during the period. Mosaic Financial Group LLC boosted its stake in shares of JPMorgan Chase & Co. by 0.8% during the 1st quarter. Mosaic Financial Group LLC now owns 9,296 shares of the financial services provider’s stock worth $2,280,000 after purchasing an additional 78 shares during the period. Morse Asset Management Inc boosted its stake in shares of JPMorgan Chase & Co. by 19.5% during the 1st quarter. Morse Asset Management Inc now owns 2,569 shares of the financial services provider’s stock worth $630,000 after purchasing an additional 420 shares during the period. Finally, Hidden Cove Wealth Management LLC boosted its stake in shares of JPMorgan Chase & Co. by 4.2% during the 1st quarter. Hidden Cove Wealth Management LLC now owns 2,758 shares of the financial services provider’s stock worth $677,000 after purchasing an additional 112 shares during the period. 71.55% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at JPMorgan Chase & Co.

In other news, Director Linda Bammann sold 9,500 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total value of $2,830,430.00. Following the completion of the sale, the director owned 82,207 shares in the company, valued at approximately $24,492,753.58. The trade was a 10.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.47% of the company’s stock.

JPMorgan Chase & Co. Trading Down 0.2%

Shares of JPM opened at $297.81 on Monday. JPMorgan Chase & Co. has a 1-year low of $202.16 and a 1-year high of $318.01. The company has a 50-day moving average of $302.82 and a 200 day moving average of $279.12. The firm has a market capitalization of $818.91 billion, a price-to-earnings ratio of 14.75, a PEG ratio of 1.80 and a beta of 1.13. 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. (NYSE:JPM) last announced its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share for the quarter, beating analysts’ consensus estimates of $4.83 by $0.24. JPMorgan Chase & Co. had a net margin of 20.90% and a return on equity of 17.18%. The company had revenue of $46.43 billion during the quarter, compared to analyst estimates of $44.42 billion. During the same quarter last year, the business posted $4.37 EPS. The firm’s revenue for the quarter was up 8.8% on a year-over-year basis. On average, research analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm 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 $1.50 dividend. The ex-dividend date is Monday, October 6th. This represents a $6.00 annualized dividend and a dividend yield of 2.0%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 29.72%.

Analysts Set New Price Targets

JPM has been the subject of a number of recent analyst reports. Morgan Stanley lifted their price target on shares of JPMorgan Chase & Co. from $336.00 to $338.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 15th. Keefe, Bruyette & Woods lifted their price target on shares of JPMorgan Chase & Co. from $330.00 to $354.00 and gave the stock an “outperform” rating in a research note on Friday, October 10th. Weiss Ratings reaffirmed a “buy (b+)” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, October 8th. UBS Group lifted their price target on shares of JPMorgan Chase & Co. from $339.00 to $350.00 and gave the stock a “buy” rating in a research note on Tuesday, October 7th. Finally, Truist Financial lifted their price objective on shares of JPMorgan Chase & Co. from $290.00 to $319.00 and gave the company a “hold” rating in a report on Tuesday, September 23rd. Fifteen analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, JPMorgan Chase & Co. presently has a consensus rating of “Hold” and an average price target of $322.86.

JPMorgan Chase & Co. Company 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.