JPMorgan Chase & Co. $JPM Shares Sold by Checchi Capital Advisers LLC

Checchi Capital Advisers LLC cut its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 5.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,549 shares of the financial services provider’s stock after selling 2,008 shares during the quarter. Checchi Capital Advisers LLC’s holdings in JPMorgan Chase & Co. were worth $9,436,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Kingstone Capital Partners Texas LLC raised its stake in 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 worth $21,133,630,000 after purchasing an additional 72,885,260 shares during the period. Nuveen LLC purchased a new stake in JPMorgan Chase & Co. during the 1st quarter worth $3,972,807,000. National Bank of Canada FI grew its holdings in JPMorgan Chase & Co. by 44.4% during the 1st quarter. National Bank of Canada FI now owns 4,518,740 shares of the financial services provider’s stock worth $1,108,415,000 after acquiring an additional 1,388,992 shares in the last quarter. Strs Ohio acquired a new position in JPMorgan Chase & Co. during the 1st quarter worth $279,389,000. Finally, Alecta Tjanstepension Omsesidigt acquired a new position in shares of JPMorgan Chase & Co. in the 1st quarter valued at about $278,493,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on JPM. Citigroup raised their price target on shares of JPMorgan Chase & Co. from $275.00 to $325.00 and gave the company a “neutral” rating in a research note on Wednesday, September 24th. Cowen reissued a “buy” rating on shares of JPMorgan Chase & Co. in a report on Wednesday, July 16th. The Goldman Sachs Group increased their price target 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. Morgan Stanley raised their target price on JPMorgan Chase & Co. from $298.00 to $336.00 and gave the stock an “equal weight” rating in a research report on Monday, September 29th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of JPMorgan Chase & Co. from $300.00 to $320.00 and gave the stock a “hold” rating in a research note on Tuesday, September 30th. Fourteen investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, JPMorgan Chase & Co. currently has an average rating of “Hold” and a consensus target price of $313.89.

Insider Buying and Selling at JPMorgan Chase & Co.

In related news, Director Linda Bammann sold 9,500 shares of the 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 owned 82,207 shares in the company, valued at $24,492,753.58. This trade represents a 10.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.47% of the company’s stock.

JPMorgan Chase & Co. Price Performance

Shares of JPM stock opened at $301.12 on Friday. JPMorgan Chase & Co. has a 12 month low of $202.16 and a 12 month high of $318.01. The company has a market capitalization of $828.00 billion, a P/E ratio of 15.45, a P/E/G ratio of 1.94 and a beta of 1.13. The stock has a 50 day moving average of $301.61 and a two-hundred day moving average of $276.78. 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. (NYSE:JPM) last released its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.48 by $0.48. The business had revenue of $44.91 billion for 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%.JPMorgan Chase & Co.’s quarterly revenue was down 10.5% on a year-over-year basis. During the same period in the previous year, the business posted $6.12 earnings per share. As a group, equities analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders 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 2.0%. The ex-dividend date of this dividend is Monday, October 6th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. JPMorgan Chase & Co.’s payout ratio is currently 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.