Sowell Financial Services LLC Decreases Stake in JPMorgan Chase & Co. (NYSE:JPM)

Sowell Financial Services LLC lowered its position in JPMorgan Chase & Co. (NYSE:JPM) by 4.7% in the third quarter, Holdings Channel reports. The fund owned 74,666 shares of the financial services provider’s stock after selling 3,646 shares during the period. JPMorgan Chase & Co. makes up approximately 0.7% of Sowell Financial Services LLC’s portfolio, making the stock its 21st biggest holding. Sowell Financial Services LLC’s holdings in JPMorgan Chase & Co. were worth $15,744,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the company. Wellington Wealth Strategies LLC. acquired a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at $1,145,000. Cooper Financial Group increased its holdings in shares of JPMorgan Chase & Co. by 12.8% in the 1st quarter. Cooper Financial Group now owns 8,693 shares of the financial services provider’s stock valued at $1,741,000 after acquiring an additional 984 shares during the period. Spartan Planning & Wealth Management increased its holdings in shares of JPMorgan Chase & Co. by 257.3% in the 4th quarter. Spartan Planning & Wealth Management now owns 3,780 shares of the financial services provider’s stock valued at $643,000 after acquiring an additional 2,722 shares during the period. jvl associates llc increased its holdings in shares of JPMorgan Chase & Co. by 59.8% in the 1st quarter. jvl associates llc now owns 1,911 shares of the financial services provider’s stock valued at $383,000 after acquiring an additional 715 shares during the period. Finally, Rowlandmiller & PARTNERS.ADV increased its holdings in shares of JPMorgan Chase & Co. by 1.3% in the 1st quarter. Rowlandmiller & PARTNERS.ADV now owns 25,963 shares of the financial services provider’s stock valued at $5,201,000 after acquiring an additional 330 shares during the period. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Price Performance

Shares of JPMorgan Chase & Co. stock traded up $5.41 on Friday, hitting $210.64. The company’s stock had a trading volume of 6,418,019 shares, compared to its average volume of 9,128,278. JPMorgan Chase & Co. has a 52-week low of $135.19 and a 52-week high of $225.48. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.24. The firm has a fifty day moving average price of $211.32 and a 200-day moving average price of $202.90. The company has a market capitalization of $604.89 billion, a P/E ratio of 11.69, a price-to-earnings-growth ratio of 2.39 and a beta of 1.11.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Friday, July 12th. The financial services provider reported $6.12 earnings per share for the quarter, beating the consensus estimate of $4.19 by $1.93. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. The firm had revenue of $50.80 billion during the quarter, compared to the consensus estimate of $42.23 billion. During the same quarter in the previous year, the company posted $4.37 EPS. On average, equities research analysts expect that JPMorgan Chase & Co. will post 16.72 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be paid a dividend of $1.25 per share. The ex-dividend date is Friday, October 4th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.37%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend payout ratio is currently 27.89%.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. BMO Capital Markets boosted their price objective on shares of JPMorgan Chase & Co. from $195.00 to $205.00 and gave the company a “market perform” rating in a research note on Thursday, July 11th. Piper Sandler boosted their price objective on shares of JPMorgan Chase & Co. from $220.00 to $230.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Wells Fargo & Company boosted their price objective on shares of JPMorgan Chase & Co. from $220.00 to $225.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Oppenheimer boosted their price objective on shares of JPMorgan Chase & Co. from $221.00 to $234.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Evercore ISI boosted their price objective on shares of JPMorgan Chase & Co. from $210.00 to $211.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. Nine investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $212.13.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.