Addenda Capital Inc. Decreases Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Addenda Capital Inc. reduced its position in JPMorgan Chase & Co. (NYSE:JPM) by 0.7% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 113,397 shares of the financial services provider’s stock after selling 788 shares during the period. Addenda Capital Inc.’s holdings in JPMorgan Chase & Co. were worth $12,770,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in JPM. Dimension Capital Management LLC grew its position in JPMorgan Chase & Co. by 2.1% in the 4th quarter. Dimension Capital Management LLC now owns 3,561 shares of the financial services provider’s stock worth $565,000 after purchasing an additional 72 shares during the period. Legacy Capital Partners Inc. grew its position in JPMorgan Chase & Co. by 1.4% in the 1st quarter. Legacy Capital Partners Inc. now owns 5,591 shares of the financial services provider’s stock worth $762,000 after purchasing an additional 75 shares during the period. Tennessee Valley Asset Management Partners grew its position in JPMorgan Chase & Co. by 1.2% in the 1st quarter. Tennessee Valley Asset Management Partners now owns 6,634 shares of the financial services provider’s stock worth $904,000 after purchasing an additional 78 shares during the period. F M Investments LLC grew its position in JPMorgan Chase & Co. by 1.8% in the 1st quarter. F M Investments LLC now owns 4,588 shares of the financial services provider’s stock worth $625,000 after purchasing an additional 80 shares during the period. Finally, First National Bank of Hutchinson grew its position in shares of JPMorgan Chase & Co. by 1.2% during the 1st quarter. First National Bank of Hutchinson now owns 6,759 shares of the financial services provider’s stock valued at $921,000 after acquiring an additional 81 shares during the period. 68.57% of the stock is currently owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Stock Down 1.1 %

Shares of NYSE JPM opened at $111.21 on Friday. The firm’s 50-day moving average price is $116.09 and its 200-day moving average price is $122.16. 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 $326.13 billion, a price-to-earnings ratio of 8.93, a P/E/G ratio of 2.04 and a beta of 1.10. 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 announced its earnings results on Thursday, July 14th. The financial services provider reported $2.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.85 by ($0.09). The business had revenue of $30.72 billion for 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 firm’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.78 earnings per share. On average, equities research analysts anticipate that JPMorgan Chase & Co. will post 11.33 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Thursday, October 6th will be given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 3.60%. The ex-dividend date of this dividend is Wednesday, October 5th. JPMorgan Chase & Co.’s dividend payout ratio is 32.10%.

Wall Street Analyst Weigh In

JPM has been the subject of a number of recent research reports. Credit Suisse Group set a $145.00 price objective on shares of JPMorgan Chase & Co. in a research report on Monday, August 8th. Barclays set a $200.00 price objective on shares of JPMorgan Chase & Co. in a research report on Monday, July 18th. Citigroup raised shares of JPMorgan Chase & Co. from a “neutral” rating to a “buy” rating and cut their price objective for the company from $145.00 to $135.00 in a research report on Tuesday, July 12th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of JPMorgan Chase & Co. from $174.00 to $155.00 and set a “buy” rating for the company in a research report on Monday, September 12th. Finally, Berenberg Bank raised shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating and set a $120.00 target price for the company in a report on Monday, July 18th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $145.95.

JPMorgan Chase & Co. Profile

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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.

See Also

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

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