JPMorgan Chase & Co. $JPM is Grassi Investment Management’s 8th Largest Position

Grassi Investment Management cut its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 104,353 shares of the financial services provider’s stock after selling 597 shares during the quarter. JPMorgan Chase & Co. makes up 2.4% of Grassi Investment Management’s investment portfolio, making the stock its 8th largest position. Grassi Investment Management’s holdings in JPMorgan Chase & Co. were worth $30,253,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. Kingstone Capital Partners Texas LLC increased its position in shares of JPMorgan Chase & Co. by 609,867.5% in the second quarter. Kingstone Capital Partners Texas LLC now owns 72,897,211 shares of the financial services provider’s stock worth $21,133,630,000 after acquiring an additional 72,885,260 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in JPMorgan Chase & Co. by 1.9% in 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 in the last quarter. Goldman Sachs Group Inc. increased its stake in 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 purchasing an additional 548,853 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in 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 purchasing 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 worth about $3,972,807,000. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other 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 transaction of $2,830,430.00. Following the completion of the sale, the director owned 82,207 shares in the company, valued at $24,492,753.58. The trade was a 10.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.47% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

JPM has been the subject of several recent research reports. HSBC restated a “reduce” rating and set a $259.00 price target on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 8th. Cowen reiterated a “buy” rating on shares of JPMorgan Chase & Co. in a report on Wednesday, July 16th. Morgan Stanley upped their price objective on shares of JPMorgan Chase & Co. from $298.00 to $336.00 and gave the stock an “equal weight” rating in a report on Monday, September 29th. Zacks Research cut JPMorgan Chase & Co. from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 8th. Finally, Evercore ISI upped their price objective on JPMorgan Chase & Co. from $309.00 to $330.00 and gave the company an “outperform” rating in a research note on Tuesday, September 30th. Fourteen analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $313.89.

JPMorgan Chase & Co. Price Performance

JPM stock opened at $301.12 on Friday. The stock has a 50-day moving average price of $301.61 and a two-hundred day moving average price of $276.60. The stock has a market cap of $828.00 billion, a PE ratio of 15.45, a price-to-earnings-growth ratio of 1.97 and a beta of 1.13. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.25. JPMorgan Chase & Co. has a 1 year low of $202.16 and a 1 year high of $318.01.

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 during the quarter, compared to analysts’ expectations of $43.76 billion. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.The company’s revenue was down 10.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $6.12 EPS. Equities analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS 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. Investors 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 is an increase 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 2.0%. JPMorgan Chase & Co.’s dividend payout ratio is 30.79%.

JPMorgan Chase & Co. 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.