Montis Financial LLC Trims Stock Holdings in JPMorgan Chase & Co. $JPM

Montis Financial LLC lowered its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 7.0% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 3,233 shares of the financial services provider’s stock after selling 245 shares during the quarter. Montis Financial LLC’s holdings in JPMorgan Chase & Co. were worth $937,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. MJT & Associates Financial Advisory Group Inc. purchased a new position in shares of JPMorgan Chase & Co. during the 1st quarter valued at about $28,000. University of Illinois Foundation acquired a new stake in JPMorgan Chase & Co. during the first quarter worth about $30,000. Curat Global LLC purchased a new position in JPMorgan Chase & Co. during the first quarter valued at approximately $33,000. Ryan Investment Management Inc. purchased a new position in JPMorgan Chase & Co. during the second quarter valued at approximately $37,000. Finally, Christopher J. Hasenberg Inc lifted its holdings in JPMorgan Chase & Co. by 212.0% in the second quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 106 shares during the period. 71.55% of the stock is owned by institutional investors and hedge funds.

Insider Activity at JPMorgan Chase & Co.

In related news, Director Linda Bammann sold 9,500 shares of the company’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 transaction, 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 legal filing with the SEC, which is accessible through this link. Insiders own 0.47% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. TD Cowen raised their price objective on shares of JPMorgan Chase & Co. from $350.00 to $370.00 and gave the stock a “buy” rating in a research note on Friday. Weiss Ratings restated a “buy (b+)” rating on shares of JPMorgan Chase & Co. in a research report on Saturday, September 27th. Morgan Stanley lifted 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 report on Monday, September 29th. Zacks Research lowered shares of JPMorgan Chase & Co. from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 8th. Finally, Baird R W cut 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 assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $307.70.

JPMorgan Chase & Co. Trading Up 0.8%

Shares of JPM stock 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 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’s fifty day moving average is $300.67 and its two-hundred day moving average is $274.72. The firm has a market capitalization of $852.11 billion, a P/E ratio of 15.90, a PEG ratio of 2.04 and a beta of 1.13.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $44.91 billion during the quarter, compared to analysts’ expectations of $43.76 billion. During the same period in the prior year, the business earned $6.12 earnings per share. The company’s quarterly revenue was down 10.5% compared to the same quarter last year. Research analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal 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 dividend on an annualized basis and a dividend yield of 1.9%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. JPMorgan Chase & Co.’s payout ratio is 28.73%.

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.