New Covenant Trust Company N.A. Lowers Position in JPMorgan Chase & Co. $JPM

New Covenant Trust Company N.A. decreased its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,949 shares of the financial services provider’s stock after selling 56 shares during the period. JPMorgan Chase & Co. comprises about 1.5% of New Covenant Trust Company N.A.’s holdings, making the stock its 15th largest position. New Covenant Trust Company N.A.’s holdings in JPMorgan Chase & Co. were worth $1,708,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. MJT & Associates Financial Advisory Group Inc. purchased a new stake in shares of JPMorgan Chase & Co. during the first quarter valued at approximately $28,000. University of Illinois Foundation bought a new position in JPMorgan Chase & Co. in the 1st quarter valued at $30,000. Curat Global LLC bought a new position in JPMorgan Chase & Co. in the 1st quarter valued at $33,000. Ryan Investment Management Inc. purchased a new stake in shares of JPMorgan Chase & Co. during the 2nd quarter valued at $37,000. Finally, Christopher J. Hasenberg Inc raised its stake 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 worth $45,000 after purchasing an additional 106 shares during the period. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Stock Performance

NYSE JPM opened at $309.89 on Friday. The company’s 50 day simple moving average is $300.67 and its two-hundred day simple moving average is $274.72. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.88. JPMorgan Chase & Co. has a 1 year low of $202.16 and a 1 year high of $318.01. The stock has a market capitalization of $852.11 billion, a PE 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 quarterly 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 firm had revenue of $44.91 billion during the quarter, compared to analyst estimates of $43.76 billion. During the same period in the previous year, the business earned $6.12 EPS. The business’s revenue for the quarter was down 10.5% on a year-over-year basis. Analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

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

Insider Activity

In other news, Director Linda Bammann sold 9,500 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the completion of the transaction, the director owned 82,207 shares of the company’s stock, valued at approximately $24,492,753.58. The trade was a 10.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.47% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on JPM shares. Baird R W lowered shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research report on Friday, June 27th. Wells Fargo & Company boosted their target price on shares of JPMorgan Chase & Co. from $325.00 to $345.00 and gave the company an “overweight” rating in a research note on Tuesday, September 16th. Citigroup raised their price target on shares of JPMorgan Chase & Co. from $275.00 to $325.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 24th. Royal Bank Of Canada reaffirmed a “buy” rating on shares of JPMorgan Chase & Co. in a report on Thursday, September 11th. Finally, Weiss Ratings reissued a “buy (b+)” rating on shares of JPMorgan Chase & Co. in a report on Saturday, September 27th. Fifteen equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $307.70.

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.