Griffin Asset Management Inc. trimmed its position in JPMorgan Chase & Co. (NYSE:JPM – Free Report) by 0.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 71,701 shares of the financial services provider’s stock after selling 125 shares during the quarter. JPMorgan Chase & Co. comprises 1.4% of Griffin Asset Management Inc.’s investment portfolio, making the stock its 14th biggest position. Griffin Asset Management Inc.’s holdings in JPMorgan Chase & Co. were worth $10,428,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently bought and sold shares of the company. Nordwand Advisors LLC purchased a new stake in shares of JPMorgan Chase & Co. in the 1st quarter valued at approximately $30,000. Sageworth Trust Co raised its stake in shares of JPMorgan Chase & Co. by 266.7% in the 1st quarter. Sageworth Trust Co now owns 407 shares of the financial services provider’s stock valued at $53,000 after acquiring an additional 296 shares during the period. Robbins Farley raised its stake in shares of JPMorgan Chase & Co. by 54.2% in the 1st quarter. Robbins Farley now owns 475 shares of the financial services provider’s stock valued at $62,000 after acquiring an additional 167 shares during the period. Miller Wealth Advisors LLC purchased a new stake in shares of JPMorgan Chase & Co. in the 2nd quarter valued at approximately $67,000. Finally, Guardian Wealth Advisors LLC purchased a new stake in shares of JPMorgan Chase & Co. in the 1st quarter valued at approximately $70,000. 68.94% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently issued reports on the stock. Oppenheimer boosted their price target on shares of JPMorgan Chase & Co. from $215.00 to $233.00 and gave the company an “outperform” rating in a research note on Monday, October 16th. Citigroup downgraded shares of JPMorgan Chase & Co. from a “buy” rating to a “neutral” rating and set a $160.00 target price on the stock. in a research note on Wednesday, July 12th. Morgan Stanley upped their target price on shares of JPMorgan Chase & Co. from $187.00 to $191.00 and gave the stock an “overweight” rating in a research note on Monday, October 16th. Evercore ISI upped their target price on shares of JPMorgan Chase & Co. from $158.00 to $167.00 in a research note on Thursday, October 5th. Finally, BMO Capital Markets upped their target price on shares of JPMorgan Chase & Co. from $167.00 to $171.00 and gave the stock a “market perform” rating in a research note on Monday, October 16th. Eight research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, JPMorgan Chase & Co. has a consensus rating of “Moderate Buy” and a consensus target price of $169.79.
JPMorgan Chase & Co. Trading Down 3.6 %
Shares of JPMorgan Chase & Co. stock opened at $135.69 on Monday. The company has a fifty day simple moving average of $145.62 and a 200-day simple moving average of $144.42. JPMorgan Chase & Co. has a 12-month low of $123.11 and a 12-month high of $159.38. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.25. The stock has a market cap of $394.33 billion, a price-to-earnings ratio of 8.10, a PEG ratio of 1.66 and a beta of 1.10.
JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last issued its earnings results on Friday, October 13th. The financial services provider reported $4.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.95 by $0.38. JPMorgan Chase & Co. had a net margin of 22.79% and a return on equity of 17.97%. The business had revenue of $40.69 billion during the quarter, compared to analysts’ expectations of $39.63 billion. During the same quarter in the prior year, the business posted $3.12 EPS. The company’s revenue for the quarter was up 24.4% on a year-over-year basis. On average, equities analysts forecast that JPMorgan Chase & Co. will post 16.44 EPS for the current fiscal year.
JPMorgan Chase & Co. Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, October 6th will be issued a $1.05 dividend. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $4.20 annualized dividend and a dividend yield of 3.10%. JPMorgan Chase & Co.’s dividend payout ratio is presently 25.07%.
In related news, General Counsel Stacey Friedman sold 4,310 shares of the stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $144.86, for a total transaction of $624,346.60. Following the completion of the sale, the general counsel now owns 53,425 shares in the company, valued at approximately $7,739,145.50. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.79% of the company’s stock.
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 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.
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