JPMorgan Chase & Co. $JPM is Janney Montgomery Scott LLC’s 7th Largest Position

Janney Montgomery Scott LLC reduced its position in JPMorgan Chase & Co. (NYSE:JPM) by 1.1% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 1,714,994 shares of the financial services provider’s stock after selling 19,933 shares during the quarter. JPMorgan Chase & Co. comprises about 1.3% of Janney Montgomery Scott LLC’s holdings, making the stock its 7th largest position. Janney Montgomery Scott LLC owned approximately 0.06% of JPMorgan Chase & Co. worth $497,194,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Kingstone Capital Partners Texas LLC lifted its holdings in JPMorgan Chase & Co. by 609,867.5% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 72,897,211 shares of the financial services provider’s stock valued at $21,133,630,000 after purchasing an additional 72,885,260 shares in the last quarter. Nuveen LLC acquired a new stake in JPMorgan Chase & Co. during the 1st quarter worth approximately $3,972,807,000. National Bank of Canada FI increased its position in JPMorgan Chase & Co. by 44.4% during the 1st quarter. National Bank of Canada FI now owns 4,518,740 shares of the financial services provider’s stock worth $1,108,415,000 after purchasing an additional 1,388,992 shares in the last quarter. Strs Ohio acquired a new stake in JPMorgan Chase & Co. during the 1st quarter worth approximately $279,389,000. Finally, Alecta Tjanstepension Omsesidigt acquired a new stake in JPMorgan Chase & Co. during the 1st quarter worth approximately $278,493,000. 71.55% of the stock is owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Price Performance

Shares of NYSE JPM opened at $309.89 on Friday. JPMorgan Chase & Co. has a fifty-two week low of $202.16 and a fifty-two week high of $318.01. The firm’s 50-day simple moving average is $300.67 and its 200 day simple moving average is $274.72. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.25. The stock has a market cap of $852.11 billion, a P/E ratio of 15.90, a P/E/G ratio of 2.04 and a beta of 1.13.

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

JPMorgan Chase & Co. Increases Dividend

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

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Morgan Stanley increased their price objective 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, September 29th. TD Cowen increased their price objective on shares of JPMorgan Chase & Co. from $350.00 to $370.00 and gave the company a “buy” rating in a research report on Friday. Keefe, Bruyette & Woods increased their price objective on shares of JPMorgan Chase & Co. from $327.00 to $330.00 and gave the company an “outperform” rating in a research report on Wednesday, July 16th. The Goldman Sachs Group increased their price objective on shares of JPMorgan Chase & Co. from $336.00 to $350.00 and gave the company a “buy” rating in a research report on Friday. Finally, Baird R W downgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research report on Friday, June 27th. Fifteen equities 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 stock. According to data from MarketBeat.com, JPMorgan Chase & Co. has an average rating of “Hold” and an average price target of $307.70.

Insider Activity

In related news, Director Linda Bammann sold 9,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $297.94, for a total value 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. The trade was a 10.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.47% of the stock is currently owned by corporate insiders.

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.