Magnolia Capital Advisors LLC Reduces Stock Holdings in JPMorgan Chase & Co. $JPM

Magnolia Capital Advisors LLC lowered its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 3.3% during the second quarter, Holdings Channel reports. The firm owned 17,221 shares of the financial services provider’s stock after selling 584 shares during the period. JPMorgan Chase & Co. makes up approximately 1.3% of Magnolia Capital Advisors LLC’s investment portfolio, making the stock its 19th largest position. Magnolia Capital Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $4,993,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of JPM. Prosperity Consulting Group LLC boosted its holdings in shares of JPMorgan Chase & Co. by 1.4% in the 2nd quarter. Prosperity Consulting Group LLC now owns 46,809 shares of the financial services provider’s stock valued at $13,570,000 after buying an additional 634 shares in the last quarter. Code Waechter LLC lifted its position in JPMorgan Chase & Co. by 4.4% in the second quarter. Code Waechter LLC now owns 2,806 shares of the financial services provider’s stock valued at $813,000 after acquiring an additional 119 shares during the last quarter. Marest Capital LLC boosted its stake in JPMorgan Chase & Co. by 11.4% in the second quarter. Marest Capital LLC now owns 18,989 shares of the financial services provider’s stock valued at $5,505,000 after acquiring an additional 1,941 shares in the last quarter. Bryce Point Capital LLC purchased a new position in shares of JPMorgan Chase & Co. during the second quarter worth about $560,000. Finally, Optivise Advisory Services LLC grew its holdings in shares of JPMorgan Chase & Co. by 4.9% during the second quarter. Optivise Advisory Services LLC now owns 2,138 shares of the financial services provider’s stock worth $620,000 after purchasing an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Insider Transactions at JPMorgan Chase & Co.

In other news, insider Robin Leopold sold 966 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider directly 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 sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction that occurred on 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. This trade 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 owned by company insiders.

JPMorgan Chase & Co. Price Performance

JPMorgan Chase & Co. stock opened at $309.28 on Friday. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.86 and a quick ratio of 0.88. The business has a 50 day simple moving average of $307.34 and a 200-day simple moving average of $288.98. JPMorgan Chase & Co. has a 12 month low of $202.16 and a 12 month high of $322.25. The stock has a market capitalization of $841.95 billion, a PE ratio of 15.32, a price-to-earnings-growth ratio of 1.84 and a beta of 1.14.

JPMorgan Chase & Co. (NYSE:JPM) last posted 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. The firm had revenue of $47.12 billion for the quarter, compared to analyst estimates 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 period last year, the firm posted $4.37 EPS. Equities analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Monday, October 6th were issued a dividend of $1.50 per share. 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 1.9%. The ex-dividend date of this dividend was Monday, October 6th. JPMorgan Chase & Co.’s dividend payout ratio is currently 29.72%.

Analyst Ratings Changes

A number of brokerages recently issued reports on JPM. DZ Bank reissued a “neutral” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, October 15th. Royal Bank Of Canada reiterated a “buy” rating and issued a $343.00 price objective on shares of JPMorgan Chase & Co. in a research note on Tuesday, October 14th. Evercore ISI increased their price objective on JPMorgan Chase & Co. from $309.00 to $330.00 and gave the company an “outperform” rating in a report on Tuesday, September 30th. Truist Financial lifted their target price 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. Finally, Zacks Research upgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 20th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, nine have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $326.38.

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.