abrdn plc Sells 386,818 Shares of JPMorgan Chase & Co. (NYSE:JPM)

abrdn plc reduced its stake in JPMorgan Chase & Co. (NYSE:JPM) by 24.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,163,695 shares of the financial services provider’s stock after selling 386,818 shares during the quarter. abrdn plc’s holdings in JPMorgan Chase & Co. were worth $161,265,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. ACT Wealth Management LLC grew its stake in JPMorgan Chase & Co. by 25.5% in the 4th quarter. ACT Wealth Management LLC now owns 2,749 shares of the financial services provider’s stock valued at $435,000 after buying an additional 559 shares during the last quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH lifted its holdings in shares of JPMorgan Chase & Co. by 0.5% during the 4th quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 45,308 shares of the financial services provider’s stock worth $7,175,000 after acquiring an additional 233 shares during the period. Meritage Portfolio Management lifted its holdings in shares of JPMorgan Chase & Co. by 1.0% during the 4th quarter. Meritage Portfolio Management now owns 38,738 shares of the financial services provider’s stock worth $6,134,000 after acquiring an additional 381 shares during the period. Marietta Wealth Management LLC lifted its holdings in shares of JPMorgan Chase & Co. by 1.6% during the 4th quarter. Marietta Wealth Management LLC now owns 41,094 shares of the financial services provider’s stock worth $6,507,000 after acquiring an additional 667 shares during the period. Finally, Account Management LLC bought a new stake in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $4,509,000. 70.35% of the stock is owned by institutional investors.

JPMorgan Chase & Co. Trading Up 0.5 %

NYSE:JPM opened at $115.36 on Monday. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.14. The stock has a market capitalization of $338.82 billion, a price-to-earnings ratio of 9.26, a PEG ratio of 2.05 and a beta of 1.15. The firm has a fifty day simple moving average of $118.40 and a two-hundred day simple moving average of $130.58. JPMorgan Chase & Co. has a 12 month low of $106.06 and a 12 month high of $172.96.

JPMorgan Chase & Co. (NYSE:JPMGet Rating) last posted its quarterly earnings results on Thursday, July 14th. The financial services provider reported $2.76 EPS for the quarter, hitting analysts’ consensus estimates of $2.76. The business had revenue of $30.72 billion during the quarter, compared to analysts’ expectations of $31.82 billion. JPMorgan Chase & Co. had a net margin of 30.41% and a return on equity of 15.29%. The business’s quarterly revenue was up .8% on a year-over-year basis. During the same period last year, the company posted $3.78 earnings per share. Analysts expect that JPMorgan Chase & Co. will post 11.23 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Sunday, July 31st. Shareholders of record on Wednesday, July 6th were issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date was Tuesday, July 5th. JPMorgan Chase & Co.’s payout ratio is 32.10%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Argus cut their price target on shares of JPMorgan Chase & Co. from $177.00 to $155.00 in a report on Thursday, April 14th. Citigroup raised shares of JPMorgan Chase & Co. from a “neutral” rating to a “buy” rating and dropped their price objective for the company from $145.00 to $135.00 in a research note on Tuesday, July 12th. The Goldman Sachs Group set a $151.00 price objective on shares of JPMorgan Chase & Co. and gave the company a “buy” rating in a research note on Thursday, April 14th. Evercore ISI dropped their price objective on shares of JPMorgan Chase & Co. from $135.00 to $125.00 in a research note on Friday, July 15th. Finally, Morgan Stanley dropped their price objective on shares of JPMorgan Chase & Co. from $149.00 to $127.00 and set an “underweight” rating for the company in a research note on Tuesday, July 12th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, JPMorgan Chase & Co. currently has a consensus rating of “Hold” and a consensus target price of $145.95.

About JPMorgan Chase & Co.

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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 s deposit, investment and lending products, payments, and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit card, auto loan, and leasing services.

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Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

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