Garland Capital Management Inc. Has $2.34 Million Stock Holdings in JPMorgan Chase & Co. $JPM

Garland Capital Management Inc. lowered its stake in JPMorgan Chase & Co. (NYSE:JPM) by 68.5% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 8,070 shares of the financial services provider’s stock after selling 17,585 shares during the quarter. JPMorgan Chase & Co. comprises 7.4% of Garland Capital Management Inc.’s investment portfolio, making the stock its largest holding. Garland Capital Management Inc.’s holdings in JPMorgan Chase & Co. were worth $2,340,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. JFS Wealth Advisors LLC increased its position in JPMorgan Chase & Co. by 0.4% in the 2nd quarter. JFS Wealth Advisors LLC now owns 7,897 shares of the financial services provider’s stock valued at $2,290,000 after buying an additional 35 shares in the last quarter. Cottonwood Capital Advisors LLC increased its holdings in shares of JPMorgan Chase & Co. by 0.9% during the second quarter. Cottonwood Capital Advisors LLC now owns 3,837 shares of the financial services provider’s stock valued at $1,112,000 after acquiring an additional 35 shares in the last quarter. LCM Capital Management Inc increased its holdings in shares of JPMorgan Chase & Co. by 0.9% during the second quarter. LCM Capital Management Inc now owns 3,847 shares of the financial services provider’s stock valued at $1,115,000 after acquiring an additional 36 shares in the last quarter. jvl associates llc increased its holdings in shares of JPMorgan Chase & Co. by 1.7% during the second quarter. jvl associates llc now owns 2,094 shares of the financial services provider’s stock valued at $607,000 after acquiring an additional 36 shares in the last quarter. Finally, Aspen Capital Management LLC increased its stake in JPMorgan Chase & Co. by 0.8% during the 2nd quarter. Aspen Capital Management LLC now owns 4,316 shares of the financial services provider’s stock valued at $1,251,000 after purchasing an additional 36 shares in the last quarter. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Up 0.8%

JPMorgan Chase & Co. stock opened at $311.85 on Thursday. JPMorgan Chase & Co. has a twelve month low of $202.16 and a twelve month high of $318.01. The firm has a 50 day moving average price of $305.66 and a 200-day moving average price of $286.14. The company has a market capitalization of $857.51 billion, a P/E ratio of 15.45, a P/E/G ratio of 1.84 and a beta of 1.13. The company has a quick ratio of 0.88, a current ratio of 0.86 and a debt-to-equity ratio of 1.26.

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 the consensus estimate 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 business 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. JPMorgan Chase & Co.’s revenue was up 8.8% compared to the same quarter last year. As a group, equities analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Monday, October 6th were paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Monday, October 6th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. JPMorgan Chase & Co.’s dividend payout ratio is currently 29.72%.

Analyst Upgrades and Downgrades

A number of analysts have commented on JPM shares. UBS Group boosted their price target on shares of JPMorgan Chase & Co. from $339.00 to $350.00 and gave the company a “buy” rating in a research note on Tuesday, October 7th. Evercore ISI boosted their price objective on JPMorgan Chase & Co. from $309.00 to $330.00 and gave the stock an “outperform” rating in a report on Tuesday, September 30th. Daiwa Capital Markets boosted their price objective on JPMorgan Chase & Co. from $330.00 to $332.00 and gave the stock an “outperform” rating in a report on Wednesday, October 8th. Zacks Research raised JPMorgan Chase & Co. from a “hold” rating to a “strong-buy” rating in a report on Monday, October 20th. Finally, Truist Financial upped their price target on JPMorgan Chase & Co. from $290.00 to $319.00 and gave the stock a “hold” rating in a report on Tuesday, September 23rd. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $326.38.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, Director Linda Bammann sold 9,500 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the completion of the transaction, the director owned 82,207 shares in the company, valued at approximately $24,492,753.58. This represents a 10.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.47% of the company’s stock.

JPMorgan Chase & Co. 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.