Claris Financial LLC Lowers Stock Holdings in JPMorgan Chase & Co. $JPM

Claris Financial LLC reduced its stake in JPMorgan Chase & Co. (NYSE:JPM) by 20.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,269 shares of the financial services provider’s stock after selling 1,888 shares during the period. JPMorgan Chase & Co. accounts for 1.6% of Claris Financial LLC’s holdings, making the stock its 15th biggest holding. Claris Financial LLC’s holdings in JPMorgan Chase & Co. were worth $2,107,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Harbor Asset Planning Inc. purchased a new position in JPMorgan Chase & Co. during the 2nd quarter worth $26,000. Mizuho Securities Co. Ltd. lifted its holdings in shares of JPMorgan Chase & Co. by 450.0% in the 2nd quarter. Mizuho Securities Co. Ltd. now owns 110 shares of the financial services provider’s stock worth $32,000 after buying an additional 90 shares during the period. Ryan Investment Management Inc. bought a new position in shares of JPMorgan Chase & Co. during the 2nd quarter worth $37,000. Christopher J. Hasenberg Inc increased its stake 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 buying an additional 106 shares during the period. Finally, Clarity Asset Management Inc. raised its holdings in shares of JPMorgan Chase & Co. by 87.1% in the second quarter. Clarity Asset Management Inc. now owns 217 shares of the financial services provider’s stock valued at $63,000 after acquiring an additional 101 shares in the last quarter. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Trading Up 0.4%

NYSE:JPM opened at $318.74 on Monday. The stock has a market capitalization of $867.69 billion, a price-to-earnings ratio of 15.79, a PEG ratio of 1.65 and a beta of 1.08. JPMorgan Chase & Co. has a 52 week low of $202.16 and a 52 week high of $322.25. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.26. The firm has a 50 day moving average of $306.77 and a 200 day moving average of $296.86.

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 (EPS) for the quarter, topping the consensus estimate of $4.83 by $0.24. The business 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%. The business’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same period in the previous year, the company earned $4.37 earnings per share. As a group, sell-side analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Saturday, January 31st. Investors of record on Tuesday, January 6th will be given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Tuesday, January 6th. JPMorgan Chase & Co.’s dividend payout ratio is currently 29.72%.

Insider Buying and Selling

In other news, insider Robin Leopold sold 966 shares of the business’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 in the company, valued at approximately $18,240,769.68. The trade was a 1.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.47% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on JPM. Truist Financial increased their target price on shares of JPMorgan Chase & Co. from $290.00 to $319.00 and gave the stock a “hold” rating in a report on Tuesday, September 23rd. Daiwa Capital Markets upped their price target on shares of JPMorgan Chase & Co. from $330.00 to $332.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 8th. Wells Fargo & Company increased their price objective on shares of JPMorgan Chase & Co. from $345.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday, November 3rd. Barclays boosted their price objective on shares of JPMorgan Chase & Co. from $330.00 to $342.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 15th. Finally, Morgan Stanley set a $331.00 target price on JPMorgan Chase & Co. in a research report on Tuesday, December 9th. Fifteen research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, JPMorgan Chase & Co. has a consensus rating of “Hold” and an average price target of $326.81.

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.