Single Point Partners LLC Decreases Stock Holdings in JPMorgan Chase & Co. $JPM

Single Point Partners LLC decreased its position in JPMorgan Chase & Co. (NYSE:JPM) by 2.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,803 shares of the financial services provider’s stock after selling 136 shares during the quarter. Single Point Partners LLC’s holdings in JPMorgan Chase & Co. were worth $1,392,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Kingstone Capital Partners Texas LLC increased its position 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 buying an additional 72,885,260 shares during the period. Bank of New York Mellon Corp increased 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 buying an additional 454,226 shares during the period. Goldman Sachs Group Inc. increased its position 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 buying an additional 548,853 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position 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 buying an additional 890,553 shares during the period. Finally, Nuveen LLC purchased a new position in shares of JPMorgan Chase & Co. during the first quarter valued at about $3,972,807,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Analyst Upgrades and Downgrades

JPM has been the topic of several research analyst reports. UBS Group boosted their price target on shares of JPMorgan Chase & Co. from $339.00 to $350.00 and gave the company a “buy” rating in a research report on Tuesday. Bank of America boosted their price target on shares of JPMorgan Chase & Co. from $330.00 to $340.00 and gave the company a “buy” rating in a research report on Wednesday, July 16th. Keefe, Bruyette & Woods boosted their price objective 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. TD Cowen boosted 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, October 3rd. Finally, 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. Fourteen equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $313.89.

Insiders Place Their Bets

In related news, Director Linda Bammann sold 9,500 shares of the stock in a transaction that occurred on 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 transaction, the director owned 82,207 shares in the company, valued at $24,492,753.58. This represents a 10.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.47% of the stock is currently owned by company insiders.

JPMorgan Chase & Co. Stock Down 1.4%

Shares of JPMorgan Chase & Co. stock opened at $301.12 on Friday. The company has a market cap of $828.00 billion, a price-to-earnings ratio of 15.45, a price-to-earnings-growth ratio of 1.97 and a beta of 1.13. The company’s 50 day moving average is $301.61 and its 200 day moving average is $276.60. JPMorgan Chase & Co. has a twelve month low of $202.16 and a twelve month high of $318.01. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.25.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share for the quarter, beating analysts’ consensus estimates of $4.48 by $0.48. The company had revenue of $44.91 billion for the quarter, compared to the consensus estimate of $43.76 billion. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The firm’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $6.12 earnings per share. Research analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS 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. Investors of record on Monday, October 6th will be given 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 a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. The ex-dividend date is Monday, October 6th. JPMorgan Chase & Co.’s payout ratio is currently 30.79%.

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.