L.M. Kohn & Company Lowers Stake in JPMorgan Chase & Co. $JPM

L.M. Kohn & Company reduced its position in JPMorgan Chase & Co. (NYSE:JPM) by 2.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,895 shares of the financial services provider’s stock after selling 475 shares during the quarter. JPMorgan Chase & Co. makes up about 1.4% of L.M. Kohn & Company’s investment portfolio, making the stock its 13th largest holding. L.M. Kohn & Company’s holdings in JPMorgan Chase & Co. were worth $5,188,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Kingstone Capital Partners Texas LLC increased its stake 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 worth $21,133,630,000 after buying an additional 72,885,260 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of JPMorgan Chase & Co. by 1.9% in the first quarter. Bank of New York Mellon Corp now owns 24,801,153 shares of the financial services provider’s stock valued at $6,083,723,000 after acquiring an additional 454,226 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of JPMorgan Chase & Co. by 2.7% in 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 acquiring an additional 548,853 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of JPMorgan Chase & Co. by 5.1% during 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 worth $4,523,588,000 after purchasing an additional 890,553 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in shares of JPMorgan Chase & Co. during the first quarter worth about $3,972,807,000. 71.55% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

JPM has been the topic of a number of research analyst reports. Evercore ISI boosted their price target on JPMorgan Chase & Co. from $309.00 to $330.00 and gave the stock an “outperform” rating in a report on Tuesday, September 30th. Keefe, Bruyette & Woods lifted their price objective on shares of JPMorgan Chase & Co. from $330.00 to $354.00 and gave the company an “outperform” rating in a research report on Friday, October 10th. Bank of America boosted their target price on shares of JPMorgan Chase & Co. from $330.00 to $340.00 and gave the stock a “buy” rating in a report on Wednesday, July 16th. Cowen restated a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, July 16th. Finally, Piper Sandler reiterated an “overweight” rating on shares of JPMorgan Chase & Co. in a report on Tuesday, July 15th. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $326.38.

JPMorgan Chase & Co. Stock Up 0.3%

NYSE JPM opened at $314.30 on Friday. The stock has a 50 day moving average price of $306.18 and a 200-day moving average price of $286.92. JPMorgan Chase & Co. has a one year low of $202.16 and a one year high of $318.01. 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 company has a market capitalization of $864.26 billion, a P/E ratio of 15.57, a P/E/G ratio of 1.84 and a beta of 1.14.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results 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. The company had revenue of $46.43 billion for the quarter, compared to analysts’ expectations of $44.42 billion. JPMorgan Chase & Co. had a net margin of 20.90% and a return on equity of 17.18%. JPMorgan Chase & Co.’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.37 earnings per share. As a group, equities analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Monday, October 6th were issued a $1.50 dividend. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. The ex-dividend date was Monday, October 6th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.9%. JPMorgan Chase & Co.’s payout ratio is presently 29.72%.

Insider Activity

In other news, Director Linda Bammann sold 9,500 shares of the company’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 sale, the director directly owned 82,207 shares in the company, valued at approximately $24,492,753.58. This represents a 10.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robin Leopold sold 966 shares of JPMorgan Chase & Co. stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $311.92, for a total value of $301,314.72. Following the completion of the transaction, the insider owned 58,479 shares of the company’s stock, valued at approximately $18,240,769.68. This represents a 1.63% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.47% of the stock is currently owned by corporate 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.