Brookmont Capital Management Has $5.68 Million Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Brookmont Capital Management cut its stake in JPMorgan Chase & Co. (NYSE:JPM) by 2.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 28,085 shares of the financial services provider’s stock after selling 657 shares during the quarter. JPMorgan Chase & Co. accounts for about 3.1% of Brookmont Capital Management’s investment portfolio, making the stock its 3rd largest holding. Brookmont Capital Management’s holdings in JPMorgan Chase & Co. were worth $5,680,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Stone House Investment Management LLC boosted its position in shares of JPMorgan Chase & Co. by 132.8% in the fourth quarter. Stone House Investment Management LLC now owns 156 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 89 shares during the period. Retirement Group LLC boosted its position in shares of JPMorgan Chase & Co. by 227.1% during the first quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 109 shares during the last quarter. Richardson Capital Management LLC bought a new position in shares of JPMorgan Chase & Co. during the first quarter worth $34,000. Davidson Capital Management Inc. bought a new position in JPMorgan Chase & Co. during the first quarter valued at $37,000. Finally, Kathleen S. Wright Associates Inc. bought a new position in JPMorgan Chase & Co. during the first quarter valued at $40,000. 71.55% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, insider Lori A. Beer sold 5,298 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $200.64, for a total value of $1,062,990.72. Following the sale, the insider now owns 46,375 shares in the company, valued at approximately $9,304,680. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, insider Ashley Bacon sold 5,086 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $199.54, for a total transaction of $1,014,860.44. Following the transaction, the insider now owns 212,265 shares in the company, valued at approximately $42,355,358.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Lori A. Beer sold 5,298 shares of the stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $200.64, for a total value of $1,062,990.72. Following the transaction, the insider now owns 46,375 shares in the company, valued at approximately $9,304,680. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,799 shares of company stock worth $2,963,721. Corporate insiders own 0.79% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on JPM shares. Robert W. Baird increased their price objective on shares of JPMorgan Chase & Co. from $175.00 to $185.00 and gave the company a “neutral” rating in a research report on Tuesday, May 21st. Barclays increased their target price on shares of JPMorgan Chase & Co. from $212.00 to $217.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Royal Bank of Canada reissued an “outperform” rating and issued a $211.00 target price on shares of JPMorgan Chase & Co. in a research note on Tuesday, May 21st. Evercore ISI increased their target price 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. Finally, Oppenheimer increased their target price on shares of JPMorgan Chase & Co. from $215.00 to $221.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. Eight analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $205.71.

JPMorgan Chase & Co. Stock Up 1.2 %

NYSE:JPM opened at $214.07 on Friday. JPMorgan Chase & Co. has a fifty-two week low of $135.19 and a fifty-two week high of $217.56. The stock has a market capitalization of $614.74 billion, a P/E ratio of 11.94, a P/E/G ratio of 2.42 and a beta of 1.12. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.92 and a current ratio of 0.91. The company’s 50-day simple moving average is $204.67 and its 200-day simple moving average is $195.43.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Friday, July 12th. The financial services provider reported $6.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.19 by $1.93. The company had revenue of $50.80 billion during the quarter, compared to the consensus estimate of $42.23 billion. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. During the same period in the previous year, the firm posted $4.37 earnings per share. On average, equities analysts anticipate that JPMorgan Chase & Co. will post 16.78 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Friday, July 5th were given a $1.15 dividend. The ex-dividend date was Friday, July 5th. This represents a $4.60 annualized dividend and a yield of 2.15%. JPMorgan Chase & Co.’s dividend payout ratio is presently 25.66%.

About JPMorgan Chase & Co.

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.