Heritage Investment Group Inc. Reduces Position in JPMorgan Chase & Co. $JPM

Heritage Investment Group Inc. decreased its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 4.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,872 shares of the financial services provider’s stock after selling 236 shares during the period. Heritage Investment Group Inc.’s holdings in JPMorgan Chase & Co. were worth $1,412,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. MJT & Associates Financial Advisory Group Inc. purchased a new stake in shares of JPMorgan Chase & Co. in the first quarter worth about $28,000. University of Illinois Foundation bought a new stake in JPMorgan Chase & Co. during the 1st quarter worth approximately $30,000. Ryan Investment Management Inc. purchased a new stake in JPMorgan Chase & Co. in the 2nd quarter worth approximately $37,000. Curat Global LLC bought a new position in JPMorgan Chase & Co. in the 1st quarter valued at $33,000. Finally, Christopher J. Hasenberg Inc grew its position in shares of JPMorgan Chase & Co. by 212.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 106 shares in the last quarter. Institutional investors own 71.55% of the company’s stock.

Analysts Set New Price Targets

JPM has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft increased their price objective on JPMorgan Chase & Co. from $300.00 to $320.00 and gave the stock a “hold” rating in a research report on Tuesday. Robert W. Baird cut JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $235.00 price target on the stock. in a report on Friday, June 27th. Hsbc Global Res lowered JPMorgan Chase & Co. from a “hold” rating to a “moderate sell” rating in a report on Tuesday, July 8th. HSBC restated a “reduce” rating and issued a $259.00 price objective on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 8th. Finally, Morgan Stanley lifted their target price on shares of JPMorgan Chase & Co. from $298.00 to $336.00 and gave the company an “equal weight” rating in a research report on Monday. Fourteen research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $303.45.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock opened at $309.89 on Friday. The company has a market capitalization of $852.11 billion, a P/E ratio of 15.90, a PEG ratio of 2.03 and a beta of 1.13. JPMorgan Chase & Co. has a fifty-two week low of $202.16 and a fifty-two week high of $318.01. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.88 and a current ratio of 0.88. The stock has a 50 day moving average price of $300.67 and a two-hundred day moving average price of $274.48.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.48 by $0.48. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The firm had revenue of $44.91 billion for the quarter, compared to analysts’ expectations of $43.76 billion. During the same quarter last year, the business earned $6.12 earnings per share. The business’s revenue was down 10.5% on a year-over-year basis. Analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, October 6th will be given a $1.50 dividend. The ex-dividend date is Monday, October 6th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.9%. JPMorgan Chase & Co.’s dividend payout ratio is presently 28.73%.

Insider Activity at JPMorgan Chase & Co.

In other news, Director Linda Bammann sold 9,500 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the completion of the sale, the director directly owned 82,207 shares in the company, valued at approximately $24,492,753.58. This represents a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.47% of the company’s stock.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.