Boyar Asset Management Inc. Decreases Position in JPMorgan Chase & Co. $JPM

Boyar Asset Management Inc. reduced its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.3% in the second quarter, according to its most recent filing with the SEC. The fund owned 50,806 shares of the financial services provider’s stock after selling 162 shares during the period. JPMorgan Chase & Co. makes up 9.6% of Boyar Asset Management Inc.’s investment portfolio, making the stock its 2nd biggest position. Boyar Asset Management Inc.’s holdings in JPMorgan Chase & Co. were worth $14,729,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Kingstone Capital Partners Texas LLC boosted its holdings in JPMorgan Chase & Co. by 609,867.5% during 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 acquiring an additional 72,885,260 shares during the period. Bank of New York Mellon Corp boosted its position 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 purchasing an additional 454,226 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in JPMorgan Chase & Co. by 2.7% in the first quarter. Goldman Sachs Group Inc. now owns 20,548,182 shares of the financial services provider’s stock worth $5,040,469,000 after purchasing an additional 548,853 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in JPMorgan Chase & Co. by 5.1% during the 1st 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 purchasing an additional 890,553 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in shares of JPMorgan Chase & Co. during the first quarter valued at $3,972,807,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

JPM opened at $301.12 on Friday. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.88. The firm has a fifty day moving average price of $301.61 and a 200 day moving average price of $276.60. JPMorgan Chase & Co. has a 1 year low of $202.16 and a 1 year high of $318.01. The stock has a market cap of $828.00 billion, a P/E ratio of 15.45, a P/E/G ratio of 1.97 and a beta of 1.13.

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

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, October 6th will be paid a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 2.0%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Monday, October 6th. JPMorgan Chase & Co.’s dividend payout ratio is presently 30.79%.

Insiders Place Their Bets

In related news, Director Linda Bammann sold 9,500 shares of the firm’s 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 trade represents a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. HSBC reissued a “reduce” rating and set a $259.00 price target on shares of JPMorgan Chase & Co. in a report on Tuesday, July 8th. Cowen restated a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, July 16th. The Goldman Sachs Group increased their target price on JPMorgan Chase & Co. from $336.00 to $350.00 and gave the company a “buy” rating in a research report on Friday, October 3rd. Bank of America raised their price objective on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the company a “buy” rating in a research note on Wednesday, July 16th. Finally, Weiss Ratings reaffirmed a “buy (b+)” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday. Fourteen 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’s stock. According to data from MarketBeat.com, JPMorgan Chase & Co. has an average rating of “Hold” and an average target price of $313.89.

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.