Cullinan Associates Inc. Sells 2,041 Shares of JPMorgan Chase & Co. $JPM

Cullinan Associates Inc. lowered its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 2.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 78,342 shares of the financial services provider’s stock after selling 2,041 shares during the period. JPMorgan Chase & Co. comprises about 1.5% of Cullinan Associates Inc.’s holdings, making the stock its 17th largest holding. Cullinan Associates Inc.’s holdings in JPMorgan Chase & Co. were worth $22,712,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of JPM. Kingstone Capital Partners Texas LLC lifted its position in shares of JPMorgan Chase & Co. by 609,867.5% in the 2nd 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 bought a new stake in shares of JPMorgan Chase & Co. during the first quarter valued at approximately $3,972,807,000. National Bank of Canada FI boosted its position in shares of JPMorgan Chase & Co. by 44.4% during the first quarter. National Bank of Canada FI now owns 4,518,740 shares of the financial services provider’s stock valued at $1,108,415,000 after buying an additional 1,388,992 shares during the last quarter. Strs Ohio purchased a new position in shares of JPMorgan Chase & Co. during the first quarter valued at approximately $279,389,000. Finally, Alecta Tjanstepension Omsesidigt purchased a new position in shares of JPMorgan Chase & Co. in the 1st quarter worth $278,493,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Up 2.4%

JPM stock opened at $308.08 on Tuesday. JPMorgan Chase & Co. has a 12 month low of $202.16 and a 12 month high of $318.01. 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 company has a market capitalization of $847.15 billion, a P/E ratio of 15.81, a price-to-earnings-growth ratio of 1.94 and a beta of 1.13. The firm’s fifty day simple moving average is $301.89 and its 200-day simple moving average is $277.44.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results 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 company had revenue of $44.91 billion during the quarter, compared to the consensus estimate 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 revenue for the quarter was down 10.5% on a year-over-year basis. During the same period in the previous year, the company posted $6.12 earnings per share. As a group, equities research analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently disclosed 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 of this dividend is Monday, October 6th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. This represents a $6.00 annualized dividend and a yield of 1.9%. JPMorgan Chase & Co.’s dividend payout ratio is 30.79%.

Insider Transactions at JPMorgan Chase & Co.

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 value of $2,830,430.00. Following 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.47% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on JPM. Wells Fargo & Company lifted their price target on shares of JPMorgan Chase & Co. from $325.00 to $345.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 16th. The Goldman Sachs Group lifted their price objective on JPMorgan Chase & Co. from $336.00 to $350.00 and gave the stock a “buy” rating in a research note on Friday, October 3rd. Morgan Stanley upped their price objective on JPMorgan Chase & Co. from $298.00 to $336.00 and gave the company an “equal weight” rating in a research report on Monday, September 29th. UBS Group upped their price target on shares of JPMorgan Chase & Co. from $339.00 to $350.00 and gave the company a “buy” rating in a report on Tuesday, October 7th. Finally, Weiss Ratings reaffirmed a “buy (b+)” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, October 8th. Fifteen analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $316.00.

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.