Sara Bay Financial Sells 327 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Sara Bay Financial lessened its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 64,815 shares of the financial services provider’s stock after selling 327 shares during the period. JPMorgan Chase & Co. comprises 3.5% of Sara Bay Financial’s holdings, making the stock its 7th largest holding. Sara Bay Financial’s holdings in JPMorgan Chase & Co. were worth $7,305,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Dravo Bay LLC acquired a new position in shares of JPMorgan Chase & Co. during the 1st quarter worth approximately $26,000. Advanced Research Investment Solutions LLC boosted its position in shares of JPMorgan Chase & Co. by 118.2% during the 1st quarter. Advanced Research Investment Solutions LLC now owns 288 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 156 shares in the last quarter. Swaine & Leidel Wealth Services LLC acquired a new stake in shares of JPMorgan Chase & Co. during the 1st quarter worth approximately $44,000. Landmark Wealth Management LLC acquired a new stake in shares of JPMorgan Chase & Co. during the 1st quarter worth approximately $46,000. Finally, Cordant Inc. acquired a new stake in shares of JPMorgan Chase & Co. during the 1st quarter worth approximately $47,000. Institutional investors and hedge funds own 68.57% of the company’s stock.

Analysts Set New Price Targets

JPM has been the topic of several analyst reports. Morgan Stanley reduced their price target on shares of JPMorgan Chase & Co. from $149.00 to $127.00 and set an “underweight” rating on the stock in a research report on Tuesday, July 12th. Credit Suisse Group set a $145.00 price objective on shares of JPMorgan Chase & Co. in a research note on Monday, August 8th. Piper Sandler dropped their price objective on shares of JPMorgan Chase & Co. from $170.00 to $158.00 and set an “overweight” rating for the company in a research note on Friday, July 1st. Oppenheimer dropped their price objective on shares of JPMorgan Chase & Co. from $154.00 to $153.00 and set an “outperform” rating for the company in a research note on Friday, July 15th. Finally, 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. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $145.95.

JPMorgan Chase & Co. Trading Down 2.9 %

NYSE:JPM opened at $112.49 on Thursday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 1.14. The stock has a market capitalization of $329.89 billion, a price-to-earnings ratio of 9.03, a PEG ratio of 2.09 and a beta of 1.10. The firm has a fifty day simple moving average of $116.03 and a two-hundred day simple moving average of $122.29. 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 issued its quarterly earnings data on Thursday, July 14th. The financial services provider reported $2.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.85 by ($0.09). The business had revenue of $30.72 billion for the quarter, compared to analyst estimates of $31.82 billion. JPMorgan Chase & Co. had a net margin of 30.41% and a return on equity of 15.29%. The firm’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.78 earnings per share. Analysts expect that JPMorgan Chase & Co. will post 11.32 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Thursday, October 6th will be issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.56%. JPMorgan Chase & Co.’s dividend payout ratio is currently 32.10%.

About JPMorgan Chase & Co.

(Get Rating)

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.

Recommended Stories

Want to see what other hedge funds are holding JPM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for JPMorgan Chase & Co. (NYSE:JPMGet Rating).

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

Receive News & Ratings for JPMorgan Chase & Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for JPMorgan Chase & Co. and related companies with MarketBeat.com's FREE daily email newsletter.