Seven Mile Advisory Sells 2,076 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Seven Mile Advisory lowered its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 22.9% in the second quarter, Holdings Channel.com reports. The institutional investor owned 6,989 shares of the financial services provider’s stock after selling 2,076 shares during the period. JPMorgan Chase & Co. comprises about 1.0% of Seven Mile Advisory’s holdings, making the stock its 17th biggest position. Seven Mile Advisory’s holdings in JPMorgan Chase & Co. were worth $1,413,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Instrumental Wealth LLC boosted its stake in JPMorgan Chase & Co. by 4.5% during the 2nd quarter. Instrumental Wealth LLC now owns 1,101 shares of the financial services provider’s stock worth $230,000 after purchasing an additional 47 shares during the last quarter. Gemmer Asset Management LLC boosted its position in JPMorgan Chase & Co. by 1.6% during the second quarter. Gemmer Asset Management LLC now owns 3,135 shares of the financial services provider’s stock worth $634,000 after acquiring an additional 48 shares during the last quarter. Great Point Wealth Advisors LLC grew its stake in JPMorgan Chase & Co. by 0.9% during the 2nd quarter. Great Point Wealth Advisors LLC now owns 5,690 shares of the financial services provider’s stock valued at $1,151,000 after acquiring an additional 48 shares in the last quarter. Northside Capital Management LLC raised its holdings in JPMorgan Chase & Co. by 0.7% in the 2nd quarter. Northside Capital Management LLC now owns 6,750 shares of the financial services provider’s stock valued at $1,365,000 after acquiring an additional 50 shares during the last quarter. Finally, Highland Financial Advisors LLC lifted its stake in JPMorgan Chase & Co. by 0.7% in the 2nd quarter. Highland Financial Advisors LLC now owns 7,056 shares of the financial services provider’s stock worth $1,427,000 after purchasing an additional 50 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors.

JPMorgan Chase & Co. Stock Performance

Shares of JPM opened at $210.48 on Friday. The company has a market capitalization of $604.43 billion, a price-to-earnings ratio of 11.74, a price-to-earnings-growth ratio of 2.33 and a beta of 1.12. 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 stock has a 50 day moving average price of $211.49 and a 200 day moving average price of $201.47.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Friday, July 12th. The financial services provider reported $6.12 earnings per share (EPS) 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 business had revenue of $50.80 billion during the quarter, compared to analysts’ expectations of $42.23 billion. During the same quarter in the prior year, the business posted $4.37 EPS. Research analysts predict that JPMorgan Chase & Co. will post 16.78 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 4th will be issued a dividend of $1.25 per share. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date is Friday, October 4th. This represents a $5.00 annualized dividend and a dividend yield of 2.38%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 25.66%.

Wall Street Analyst Weigh In

JPM has been the subject of a number of analyst reports. Jefferies Financial Group upped their price target on JPMorgan Chase & Co. from $230.00 to $239.00 and gave the company a “buy” rating in a research report on Wednesday, July 3rd. Oppenheimer raised their target price on JPMorgan Chase & Co. from $215.00 to $221.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. StockNews.com upgraded JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a report on Saturday, July 13th. Wells Fargo & Company upped their price objective on shares of JPMorgan Chase & Co. from $220.00 to $225.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Finally, Piper Sandler lifted their target price on shares of JPMorgan Chase & Co. from $220.00 to $230.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. Eight equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. currently has a consensus rating of “Moderate Buy” and an average target price of $211.06.

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.