JPMorgan Chase & Co. $JPM Stock Position Reduced by Narwhal Capital Management

Narwhal Capital Management lessened its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 3.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 126,494 shares of the financial services provider’s stock after selling 4,091 shares during the quarter. JPMorgan Chase & Co. makes up about 2.9% of Narwhal Capital Management’s holdings, making the stock its 9th largest position. Narwhal Capital Management’s holdings in JPMorgan Chase & Co. were worth $36,672,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Ignite Planners LLC increased its holdings in JPMorgan Chase & Co. by 0.7% in the second quarter. Ignite Planners LLC now owns 10,934 shares of the financial services provider’s stock valued at $3,185,000 after buying an additional 78 shares during the last quarter. RiverTree Advisors LLC purchased a new position in JPMorgan Chase & Co. in the second quarter valued at $232,000. Dohj LLC increased its holdings in JPMorgan Chase & Co. by 15.7% in the second quarter. Dohj LLC now owns 11,490 shares of the financial services provider’s stock valued at $3,331,000 after buying an additional 1,560 shares during the last quarter. Castle Rock Wealth Management LLC increased its holdings in JPMorgan Chase & Co. by 52.8% in the second quarter. Castle Rock Wealth Management LLC now owns 17,607 shares of the financial services provider’s stock valued at $5,138,000 after buying an additional 6,087 shares during the last quarter. Finally, Morton Capital Management LLC CA increased its holdings in JPMorgan Chase & Co. by 8.6% in the second quarter. Morton Capital Management LLC CA now owns 12,673 shares of the financial services provider’s stock valued at $3,674,000 after buying an additional 1,004 shares during the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Price Performance

Shares of JPM opened at $298.67 on Friday. JPMorgan Chase & Co. has a fifty-two week low of $202.16 and a fifty-two week high of $318.01. The company has a market capitalization of $821.27 billion, a price-to-earnings ratio of 14.79, a price-to-earnings-growth ratio of 1.96 and a beta of 1.13. The firm has a 50-day simple moving average of $302.63 and a 200-day simple moving average of $278.17. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.86.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share for the quarter, topping the consensus estimate of $4.83 by $0.24. JPMorgan Chase & Co. had a net margin of 20.90% and a return on equity of 17.18%. The business had revenue of $46.43 billion during the quarter, compared to the consensus estimate of $44.42 billion. During the same quarter in the prior year, the firm earned $4.37 earnings per share. The business’s quarterly revenue was up 8.8% compared to the same quarter last year. On average, equities research analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The company 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 $1.50 dividend. The ex-dividend date is Monday, October 6th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. This represents a $6.00 dividend on an annualized basis and a yield of 2.0%. JPMorgan Chase & Co.’s payout ratio is 29.72%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on JPM shares. Hsbc Global Res lowered JPMorgan Chase & Co. from a “hold” rating to a “moderate sell” rating in a report on Tuesday, July 8th. UBS Group raised their price objective on JPMorgan Chase & Co. from $339.00 to $350.00 and gave the stock a “buy” rating in a report on Tuesday, October 7th. Barclays raised their price objective on JPMorgan Chase & Co. from $330.00 to $342.00 and gave the stock an “overweight” rating in a report on Wednesday. Daiwa Capital Markets raised their price objective on JPMorgan Chase & Co. from $330.00 to $332.00 and gave the stock an “outperform” rating in a report on Wednesday, October 8th. Finally, Bank of America raised their price objective on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the stock a “buy” rating in a report on Wednesday, July 16th. Fifteen research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, JPMorgan Chase & Co. presently has an average rating of “Hold” and a consensus price target of $319.40.

Insider Buying and Selling

In related news, Director Linda Bammann sold 9,500 shares of the firm’s 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 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 at this link. 0.47% of the stock is currently owned by insiders.

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.