Wakefield Asset Management LLLP Reduces Stock Holdings in JPMorgan Chase & Co. $JPM

Wakefield Asset Management LLLP lessened its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,106 shares of the financial services provider’s stock after selling 344 shares during the quarter. JPMorgan Chase & Co. makes up 1.7% of Wakefield Asset Management LLLP’s investment portfolio, making the stock its 6th largest holding. Wakefield Asset Management LLLP’s holdings in JPMorgan Chase & Co. were worth $6,119,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of JPM. Harbor Asset Planning Inc. bought a new position in shares of JPMorgan Chase & Co. in the second quarter valued at about $26,000. MJT & Associates Financial Advisory Group Inc. acquired a new position in JPMorgan Chase & Co. during the first quarter valued at approximately $28,000. University of Illinois Foundation bought a new stake in shares of JPMorgan Chase & Co. in the 1st quarter valued at $30,000. Ryan Investment Management Inc. bought a new stake in shares of JPMorgan Chase & Co. in the second quarter worth about $37,000. Finally, Christopher J. Hasenberg Inc raised its holdings in JPMorgan Chase & Co. by 212.0% during 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. 71.55% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Robin Leopold sold 966 shares of the firm’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $311.92, for a total transaction of $301,314.72. Following the transaction, the insider owned 58,479 shares in the company, valued at approximately $18,240,769.68. This trade represents a 1.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 transaction of $2,830,430.00. Following the completion of the sale, the director owned 82,207 shares of the company’s stock, valued at approximately $24,492,753.58. This represents a 10.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.47% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Daiwa Capital Markets upped their price target on JPMorgan Chase & Co. from $330.00 to $332.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 8th. Zacks Research upgraded JPMorgan Chase & Co. from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 20th. Deutsche Bank Aktiengesellschaft increased their price objective on JPMorgan Chase & Co. from $300.00 to $320.00 and gave the company a “hold” rating in a report on Tuesday, September 30th. Wall Street Zen upgraded shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Finally, Truist Financial raised their price target on JPMorgan Chase & Co. from $290.00 to $319.00 and gave the company a “hold” rating in a report on Tuesday, September 23rd. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned 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, the stock has a consensus rating of “Moderate Buy” and an average target price of $326.38.

JPMorgan Chase & Co. Stock Performance

JPM opened at $318.66 on Thursday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.86. The stock has a market capitalization of $867.47 billion, a price-to-earnings ratio of 15.77, a PEG ratio of 1.84 and a beta of 1.14. The company has a fifty day moving average of $307.23 and a 200 day moving average of $288.84. JPMorgan Chase & Co. has a fifty-two week low of $202.16 and a fifty-two week high of $322.25.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $5.07 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $44.42 billion. During the same period in the prior year, the company earned $4.37 earnings per share. The firm’s revenue was up 8.8% on a year-over-year basis. As a group, sell-side analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Monday, October 6th were given a $1.50 dividend. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend was Monday, October 6th. This represents a $6.00 annualized dividend and a yield of 1.9%. JPMorgan Chase & Co.’s dividend payout ratio is currently 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.