JPMorgan Chase & Co. $JPM is Conning Inc.’s 4th Largest Position

Conning Inc. trimmed its position in JPMorgan Chase & Co. (NYSE:JPM) by 7.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 146,262 shares of the financial services provider’s stock after selling 12,081 shares during the quarter. JPMorgan Chase & Co. comprises approximately 1.5% of Conning Inc.’s holdings, making the stock its 4th biggest position. Conning Inc.’s holdings in JPMorgan Chase & Co. were worth $42,403,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. JFS Wealth Advisors LLC boosted its stake in JPMorgan Chase & Co. by 0.4% in the 2nd quarter. JFS Wealth Advisors LLC now owns 7,897 shares of the financial services provider’s stock worth $2,290,000 after purchasing an additional 35 shares during the period. LCM Capital Management Inc boosted its position in shares of JPMorgan Chase & Co. by 0.9% during 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 boosted its position in shares of JPMorgan Chase & Co. by 1.7% during 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% during 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 buying an additional 37 shares during the period. Finally, Western Financial Corp CA raised its holdings in 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 valued at $766,000 after buying an additional 38 shares during the period. 71.55% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on JPM shares. Morgan Stanley increased their price target on JPMorgan Chase & Co. from $336.00 to $338.00 and gave the company an “equal weight” rating in a report on Wednesday, October 15th. Cowen reiterated a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, July 16th. Bank of America increased their target price on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the stock a “buy” rating in a research note on Wednesday, July 16th. Wolfe Research increased their target price on JPMorgan Chase & Co. from $342.00 to $346.00 and gave the stock an “outperform” rating in a research note on Thursday, October 16th. Finally, Barclays increased their target price on JPMorgan Chase & Co. from $330.00 to $342.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 15th. Fifteen investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, JPMorgan Chase & Co. has an average rating of “Hold” and an average price target of $322.86.

Insider Activity

In other news, Director Linda Bammann sold 9,500 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The stock was 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 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 SEC, which is available through the SEC website. 0.47% of the stock is currently owned by insiders.

JPMorgan Chase & Co. Price Performance

Shares of JPM stock opened at $302.33 on Tuesday. JPMorgan Chase & Co. has a 1-year low of $202.16 and a 1-year high of $318.01. The stock’s 50-day moving average is $303.07 and its 200 day moving average is $279.76. The company has a market cap of $831.32 billion, a P/E ratio of 14.97, a PEG ratio of 1.80 and a beta of 1.13. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.86 and a quick ratio of 0.88.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share for the quarter, beating analysts’ consensus estimates of $4.83 by $0.24. The company had revenue of $46.43 billion for the quarter, compared to the consensus estimate of $44.42 billion. JPMorgan Chase & Co. had a return on equity of 17.18% and a net margin of 20.90%.The firm’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter last year, the company earned $4.37 earnings per share. Research analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, October 6th will be paid a $1.50 dividend. The ex-dividend date is Monday, October 6th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. This represents a $6.00 annualized dividend and a dividend yield of 2.0%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 29.72%.

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.