Viewpoint Capital Management LLC Trims Stake in JPMorgan Chase & Co. $JPM

Viewpoint Capital Management LLC reduced its position in JPMorgan Chase & Co. (NYSE:JPM) by 0.7% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 6,660 shares of the financial services provider’s stock after selling 50 shares during the period. Viewpoint Capital Management LLC’s holdings in JPMorgan Chase & Co. were worth $1,931,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Kingstone Capital Partners Texas LLC boosted its stake 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 worth $21,133,630,000 after buying an additional 72,885,260 shares during the period. Bank of New York Mellon Corp boosted its stake 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 worth $6,083,723,000 after buying an additional 454,226 shares during the period. Goldman Sachs Group Inc. boosted its stake 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 worth $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 boosted its stake 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 worth $4,523,588,000 after buying an additional 890,553 shares during the period. Finally, Nuveen LLC acquired a new stake in shares of JPMorgan Chase & Co. during the first quarter worth about $3,972,807,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. 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 value of $2,830,430.00. Following the completion of the transaction, the director directly owned 82,207 shares of the company’s stock, valued at approximately $24,492,753.58. This trade represents a 10.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.47% of the company’s stock.

JPMorgan Chase & Co. Trading Up 2.4%

Shares of JPMorgan Chase & Co. 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 current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.25. The stock has a market cap of $847.15 billion, a PE ratio of 15.81, a price-to-earnings-growth ratio of 1.94 and a beta of 1.13. The company has a 50-day moving average of $301.89 and a two-hundred day moving average of $277.44.

JPMorgan Chase & Co. (NYSE:JPM) last issued its 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. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The company had revenue of $44.91 billion during the quarter, compared to analysts’ expectations of $43.76 billion. During the same period last year, the company posted $6.12 earnings per share. The firm’s quarterly revenue was down 10.5% compared to the same quarter last year. On average, research analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently announced 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. This represents a $6.00 dividend on an annualized basis and a yield of 1.9%. This is a boost 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 30.79%.

Analyst Upgrades and Downgrades

JPM has been the subject of several recent research reports. Evercore ISI increased their target price on shares of JPMorgan Chase & Co. from $309.00 to $330.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 30th. Cowen restated a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, July 16th. Keefe, Bruyette & Woods boosted their target price on JPMorgan Chase & Co. from $330.00 to $354.00 and gave the stock an “outperform” rating in a research report on Friday. Royal Bank Of Canada reiterated a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Thursday, September 11th. Finally, The Goldman Sachs Group boosted their target price on JPMorgan Chase & Co. from $336.00 to $350.00 and gave the stock a “buy” rating in a research report on Friday, October 3rd. Fifteen equities research 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. According to MarketBeat.com, JPMorgan Chase & Co. has a consensus rating of “Hold” and an average price target of $316.00.

About JPMorgan Chase & Co.

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.