OVERSEA CHINESE BANKING Corp Ltd Sells 16,496 Shares of JPMorgan Chase & Co. $JPM

OVERSEA CHINESE BANKING Corp Ltd lessened its position in JPMorgan Chase & Co. (NYSE:JPM) by 16.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 82,885 shares of the financial services provider’s stock after selling 16,496 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in JPMorgan Chase & Co. were worth $24,020,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Harbor Asset Planning Inc. bought a new position in JPMorgan Chase & Co. in the 2nd quarter valued at approximately $26,000. MJT & Associates Financial Advisory Group Inc. bought a new position in shares of JPMorgan Chase & Co. during the first quarter valued at $28,000. University of Illinois Foundation bought a new position in shares of JPMorgan Chase & Co. during the first quarter valued at $30,000. Ryan Investment Management Inc. bought a new position in shares of JPMorgan Chase & Co. during the second quarter valued at $37,000. Finally, Christopher J. Hasenberg Inc lifted its holdings in shares of JPMorgan Chase & Co. by 212.0% during the second quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 106 shares in the last quarter. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Price Performance

Shares of NYSE:JPM opened at $311.85 on Thursday. 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. has a twelve month low of $202.16 and a twelve month high of $318.01. The stock has a market capitalization of $857.51 billion, a PE ratio of 15.45, a price-to-earnings-growth ratio of 1.84 and a beta of 1.13. The firm’s 50 day moving average price is $305.66 and its 200-day moving average price is $286.14.

JPMorgan Chase & Co. (NYSE:JPM) last released 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. JPMorgan Chase & Co. had a net margin of 20.90% and a return on equity of 17.18%. The business had revenue of $46.43 billion for the quarter, compared to the consensus estimate of $44.42 billion. During the same period last year, the firm earned $4.37 earnings per share. The company’s quarterly revenue was up 8.8% on a year-over-year basis. Equities research analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

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

Insider Buying and Selling

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

Analysts Set New Price Targets

JPM has been the topic of a number of research analyst reports. Dbs Bank raised JPMorgan Chase & Co. to a “hold” rating in a report on Tuesday, October 21st. Barclays upped their target price on shares of JPMorgan Chase & Co. from $330.00 to $342.00 and gave the company an “overweight” rating in a research note on Wednesday, October 15th. Piper Sandler restated an “overweight” rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 15th. DZ Bank restated a “neutral” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, October 15th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $366.00 price objective on shares of JPMorgan Chase & Co. in a research report on Tuesday, October 14th. Two research 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 issued a Sell rating to the company’s stock. According to data from MarketBeat, JPMorgan Chase & Co. has an average rating of “Moderate Buy” and an average 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.