Westpac Banking Corp Reduces Position in JPMorgan Chase & Co. (NYSE:JPM)

Westpac Banking Corp cut its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 88.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 38,385 shares of the financial services provider’s stock after selling 306,514 shares during the quarter. Westpac Banking Corp’s holdings in JPMorgan Chase & Co. were worth $5,583,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Nordwand Advisors LLC purchased a new stake in JPMorgan Chase & Co. during the first quarter valued at about $30,000. Sageworth Trust Co increased its position in shares of JPMorgan Chase & Co. by 266.7% during the first quarter. Sageworth Trust Co now owns 407 shares of the financial services provider’s stock valued at $53,000 after buying an additional 296 shares during the period. Robbins Farley increased its position in shares of JPMorgan Chase & Co. by 54.2% during the first quarter. Robbins Farley now owns 475 shares of the financial services provider’s stock valued at $62,000 after buying an additional 167 shares during the period. Miller Wealth Advisors LLC bought a new stake in shares of JPMorgan Chase & Co. during the second quarter valued at about $67,000. Finally, Guardian Wealth Advisors LLC bought a new stake in shares of JPMorgan Chase & Co. during the first quarter valued at about $70,000. 68.94% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 4,310 shares of the firm’s stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $144.86, for a total value of $624,346.60. Following the transaction, the general counsel now directly owns 53,425 shares of the company’s stock, valued at $7,739,145.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Price Performance

Shares of NYSE:JPM opened at $152.82 on Monday. JPMorgan Chase & Co. has a 1-year low of $123.11 and a 1-year high of $159.38. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.90 and a quick ratio of 0.90. The business has a fifty day moving average price of $145.05 and a 200-day moving average price of $145.20. The company has a market capitalization of $441.80 billion, a PE ratio of 9.12, a PEG ratio of 1.80 and a beta of 1.12.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data on Friday, October 13th. The financial services provider reported $4.33 EPS for the quarter, topping the consensus estimate of $3.95 by $0.38. JPMorgan Chase & Co. had a return on equity of 17.97% and a net margin of 22.79%. The company had revenue of $40.69 billion during the quarter, compared to the consensus estimate of $39.63 billion. During the same period last year, the company earned $3.12 EPS. JPMorgan Chase & Co.’s revenue for the quarter was up 24.4% on a year-over-year basis. As a group, equities analysts expect that JPMorgan Chase & Co. will post 16.67 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 31st. Shareholders of record on Friday, October 6th were given a $1.05 dividend. This represents a $4.20 annualized dividend and a yield of 2.75%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.00. The ex-dividend date was Thursday, October 5th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 25.07%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on JPM shares. StockNews.com started coverage on JPMorgan Chase & Co. in a research report on Thursday, October 5th. They set a “hold” rating on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $158.00 price target on shares of JPMorgan Chase & Co. in a research report on Friday, September 8th. Atlantic Securities upped their price target on JPMorgan Chase & Co. from $150.00 to $160.00 and gave the company a “neutral” rating in a research report on Tuesday, August 1st. Morgan Stanley upped their price objective on shares of JPMorgan Chase & Co. from $187.00 to $191.00 and gave the stock an “overweight” rating in a research report on Monday, October 16th. Finally, Piper Sandler upped their price objective on shares of JPMorgan Chase & Co. from $168.00 to $170.00 and gave the stock an “overweight” rating in a research report on Monday, October 16th. Nine research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, JPMorgan Chase & Co. presently has an average rating of “Moderate Buy” and an average target price of $168.80.

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 to consumers and small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services.