Center for Financial Planning Inc. Cuts Stock Holdings in JPMorgan Chase & Co. $JPM

Center for Financial Planning Inc. reduced its position in JPMorgan Chase & Co. (NYSE:JPM) by 1.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,011 shares of the financial services provider’s stock after selling 243 shares during the period. JPMorgan Chase & Co. comprises about 0.6% of Center for Financial Planning Inc.’s portfolio, making the stock its 14th biggest holding. Center for Financial Planning Inc.’s holdings in JPMorgan Chase & Co. were worth $4,932,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Harbor Asset Planning Inc. purchased a new stake in shares of JPMorgan Chase & Co. during the 2nd quarter worth about $26,000. MJT & Associates Financial Advisory Group Inc. acquired a new position in JPMorgan Chase & Co. in the 1st quarter worth about $28,000. University of Illinois Foundation purchased a new position in JPMorgan Chase & Co. during the first quarter worth approximately $30,000. Ryan Investment Management Inc. purchased a new position in JPMorgan Chase & Co. during the second quarter worth approximately $37,000. Finally, Christopher J. Hasenberg Inc grew its holdings in JPMorgan Chase & Co. by 212.0% in 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 during the period. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Stock Up 0.8%

JPM stock opened at $316.69 on Tuesday. The company has a current ratio of 0.86, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. The firm has a 50-day moving average of $306.48 and a two-hundred day moving average of $288.11. JPMorgan Chase & Co. has a 12 month low of $202.16 and a 12 month high of $319.56. The company has a market cap of $862.11 billion, a price-to-earnings ratio of 15.69, a PEG ratio of 1.84 and a beta of 1.14.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share (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 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 business earned $4.37 earnings per share. The business’s revenue was up 8.8% compared to the same quarter last year. As a group, analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

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

Wall Street Analyst Weigh In

JPM has been the topic of a number of recent analyst reports. Daiwa Capital Markets increased their target price on JPMorgan Chase & Co. from $330.00 to $332.00 and gave the company an “outperform” rating in a research report on Wednesday, October 8th. Truist Financial upped their price objective on shares of JPMorgan Chase & Co. from $290.00 to $319.00 and gave the stock a “hold” rating in a research report on Tuesday, September 23rd. Barclays increased their price objective on shares of JPMorgan Chase & Co. from $330.00 to $342.00 and gave the company an “overweight” rating in a report on Wednesday, October 15th. The Goldman Sachs Group reissued a “buy” rating and set a $366.00 target price on shares of JPMorgan Chase & Co. in a research note on Tuesday, October 14th. Finally, Loop Capital set a $310.00 price target on shares of JPMorgan Chase & Co. in a research note on Thursday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $326.38.

Insiders Place Their Bets

In other news, 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 transaction, the director owned 82,207 shares of the company’s stock, valued at approximately $24,492,753.58. The trade was a 10.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Robin Leopold sold 966 shares of the firm’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $311.92, for a total transaction of $301,314.72. Following the sale, the insider owned 58,479 shares of the company’s stock, valued at approximately $18,240,769.68. The trade was a 1.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.47% of the stock is owned by company insiders.

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.