Smith Anglin Financial LLC Sells 603 Shares of JPMorgan Chase & Co. $JPM

Smith Anglin Financial LLC decreased its stake in JPMorgan Chase & Co. (NYSE:JPM) by 14.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,485 shares of the financial services provider’s stock after selling 603 shares during the period. Smith Anglin Financial LLC’s holdings in JPMorgan Chase & Co. were worth $1,010,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Kingstone Capital Partners Texas LLC raised its stake in shares of JPMorgan Chase & Co. by 609,867.5% during the second 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 acquiring an additional 72,885,260 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of JPMorgan Chase & Co. by 1.9% during the first quarter. Bank of New York Mellon Corp now owns 24,801,153 shares of the financial services provider’s stock valued at $6,083,723,000 after acquiring an additional 454,226 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of JPMorgan Chase & Co. by 2.7% during the first quarter. Goldman Sachs Group Inc. now owns 20,548,182 shares of the financial services provider’s stock valued at $5,040,469,000 after acquiring an additional 548,853 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of JPMorgan Chase & Co. by 5.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 18,441,044 shares of the financial services provider’s stock valued at $4,523,588,000 after acquiring an additional 890,553 shares during the last quarter. Finally, Nuveen LLC bought a new position in shares of JPMorgan Chase & Co. during the first quarter valued at $3,972,807,000. Institutional investors own 71.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on JPM. Royal Bank Of Canada reaffirmed a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Thursday, September 11th. Keefe, Bruyette & Woods lifted their target price on shares of JPMorgan Chase & Co. from $327.00 to $330.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 16th. Phillip Securities downgraded shares of JPMorgan Chase & Co. from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, July 16th. Evercore ISI lifted their target price on shares of JPMorgan Chase & Co. from $309.00 to $330.00 and gave the stock an “outperform” rating in a research note on Tuesday. Finally, HSBC reissued a “reduce” rating and set a $259.00 target price on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 8th. Fifteen research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $307.70.

Insider Buying and Selling

In other news, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. 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 transaction, the director directly owned 82,207 shares in the company, valued at $24,492,753.58. This trade represents a 10.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.47% of the company’s stock.

JPMorgan Chase & Co. Trading Up 0.8%

NYSE:JPM opened at $309.89 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.25. The stock has a market capitalization of $852.11 billion, a price-to-earnings ratio of 15.90, a PEG ratio of 2.04 and a beta of 1.13. The firm has a fifty day simple moving average of $300.67 and a two-hundred day simple moving average of $274.72. JPMorgan Chase & Co. has a 12 month low of $202.16 and a 12 month high of $318.01.

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

JPMorgan Chase & Co. Increases Dividend

The business 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. 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 yield of 1.9%. JPMorgan Chase & Co.’s dividend payout ratio is 28.73%.

JPMorgan Chase & Co. Company Profile

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.