Birinyi Associates Inc. Lowers Holdings in JPMorgan Chase & Co. $JPM

Birinyi Associates Inc. trimmed its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 0.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,713 shares of the financial services provider’s stock after selling 49 shares during the quarter. JPMorgan Chase & Co. accounts for approximately 0.9% of Birinyi Associates Inc.’s investment portfolio, making the stock its 23rd biggest holding. Birinyi Associates Inc.’s holdings in JPMorgan Chase & Co. were worth $3,106,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in JPM. LCM Capital Management Inc raised its holdings in JPMorgan Chase & Co. by 0.9% in the 2nd quarter. LCM Capital Management Inc now owns 3,847 shares of the financial services provider’s stock valued at $1,115,000 after acquiring an additional 36 shares during the last quarter. jvl associates llc raised its holdings in JPMorgan Chase & Co. by 1.7% in the 2nd quarter. jvl associates llc now owns 2,094 shares of the financial services provider’s stock valued at $607,000 after acquiring an additional 36 shares during the last quarter. Lakeshore Financial Planning Inc. raised its holdings in JPMorgan Chase & Co. by 0.4% in the 2nd quarter. Lakeshore Financial Planning Inc. now owns 8,417 shares of the financial services provider’s stock valued at $2,441,000 after acquiring an additional 37 shares during the last quarter. Western Financial Corp CA increased its holdings in shares of JPMorgan Chase & Co. by 1.5% during the 2nd quarter. Western Financial Corp CA now owns 2,642 shares of the financial services provider’s stock worth $766,000 after buying an additional 38 shares during the last quarter. Finally, First Command Advisory Services Inc. increased its holdings in shares of JPMorgan Chase & Co. by 0.4% during the 1st quarter. First Command Advisory Services Inc. now owns 9,306 shares of the financial services provider’s stock worth $2,283,000 after buying an additional 40 shares during the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Stock Performance

NYSE:JPM opened at $305.94 on Thursday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.86. The stock has a market capitalization of $841.24 billion, a P/E ratio of 15.15, a PEG ratio of 1.94 and a beta of 1.13. The company has a 50 day moving average price of $302.40 and a 200 day moving average price of $277.80. JPMorgan Chase & Co. has a fifty-two week low of $202.16 and a fifty-two week high of $318.01.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share for the quarter, topping analysts’ consensus estimates of $4.83 by $0.24. The firm had revenue of $46.43 billion during the quarter, compared to analysts’ expectations of $44.42 billion. JPMorgan Chase & Co. had a net margin of 20.90% and a return on equity of 17.18%. The firm’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter last year, the company posted $4.37 EPS. Equities research analysts forecast 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 dividend yield of 2.0%. 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. JPMorgan Chase & Co.’s dividend payout ratio is 30.79%.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the firm’s stock in a transaction that occurred on 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 owned 82,207 shares of the company’s stock, valued at $24,492,753.58. This trade represents a 10.36% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.47% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on JPM shares. HSBC restated a “reduce” rating and set a $259.00 price target on shares of JPMorgan Chase & Co. in a report on Tuesday, July 8th. Morgan Stanley raised their price target on shares of JPMorgan Chase & Co. from $336.00 to $338.00 and gave the stock an “equal weight” rating in a report on Wednesday. Zacks Research downgraded shares of JPMorgan Chase & Co. from a “strong-buy” rating to a “hold” rating in a report on Monday, September 8th. Hsbc Global Res downgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “moderate sell” rating in a report on Tuesday, July 8th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of JPMorgan Chase & Co. from $300.00 to $320.00 and gave the stock a “hold” rating in a report on Tuesday, September 30th. Fifteen investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, JPMorgan Chase & Co. currently has a consensus rating of “Hold” and a consensus price target of $319.40.

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.