JPMorgan Chase & Co. $JPM Shares Sold by Advocate Group LLC

Advocate Group LLC reduced its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 3.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 40,519 shares of the financial services provider’s stock after selling 1,315 shares during the period. JPMorgan Chase & Co. makes up approximately 2.1% of Advocate Group LLC’s investment portfolio, making the stock its 9th biggest holding. Advocate Group LLC’s holdings in JPMorgan Chase & Co. were worth $11,747,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in JPM. Brighton Jones LLC lifted its stake in shares of JPMorgan Chase & Co. by 11.0% during the fourth quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider’s stock worth $11,682,000 after buying an additional 4,841 shares during the period. GAMMA Investing LLC raised its holdings in shares of JPMorgan Chase & Co. by 5.8% during the first quarter. GAMMA Investing LLC now owns 96,029 shares of the financial services provider’s stock worth $23,556,000 after purchasing an additional 5,296 shares during the last quarter. Ironwood Wealth Management LLC. raised its holdings in shares of JPMorgan Chase & Co. by 0.7% during the first quarter. Ironwood Wealth Management LLC. now owns 15,400 shares of the financial services provider’s stock worth $3,778,000 after purchasing an additional 107 shares during the last quarter. Acorns Advisers LLC raised its holdings in shares of JPMorgan Chase & Co. by 6.9% during the first quarter. Acorns Advisers LLC now owns 1,547 shares of the financial services provider’s stock worth $379,000 after purchasing an additional 100 shares during the last quarter. Finally, Segment Wealth Management LLC raised its holdings in shares of JPMorgan Chase & Co. by 23.0% during the first quarter. Segment Wealth Management LLC now owns 19,110 shares of the financial services provider’s stock worth $4,688,000 after purchasing an additional 3,576 shares during the last quarter. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at JPMorgan Chase & Co.

In related news, Director Linda Bammann sold 9,500 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the completion of the sale, the director owned 82,207 shares of the company’s stock, valued at approximately $24,492,753.58. This represents a 10.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.47% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on JPM shares. HSBC reissued a “reduce” rating and set a $259.00 target price on shares of JPMorgan Chase & Co. in a report on Tuesday, July 8th. Wolfe Research raised their target price on shares of JPMorgan Chase & Co. from $342.00 to $346.00 and gave the stock an “outperform” rating in a report on Thursday, October 16th. Daiwa Capital Markets raised their target price on shares of JPMorgan Chase & Co. from $330.00 to $332.00 and gave the stock an “outperform” rating in a report on Wednesday, October 8th. Robert W. Baird cut shares of JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $235.00 target price for the company. in a report on Friday, June 27th. Finally, Hsbc Global Res cut shares of JPMorgan Chase & Co. from a “hold” rating to a “moderate sell” rating in a report on Tuesday, July 8th. Fifteen equities 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 data from MarketBeat.com, JPMorgan Chase & Co. presently has a consensus rating of “Hold” and an average target price of $322.86.

JPMorgan Chase & Co. Stock Down 1.7%

Shares of NYSE JPM opened at $297.09 on Wednesday. JPMorgan Chase & Co. has a 12-month low of $202.16 and a 12-month high of $318.01. The stock has a market cap of $816.92 billion, a PE ratio of 14.71, a P/E/G ratio of 1.83 and a beta of 1.13. The company has a current ratio of 0.86, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. The company has a 50-day moving average of $303.16 and a 200 day moving average of $279.88.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, beating 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 company had revenue of $46.43 billion during the quarter, compared to analysts’ expectations of $44.42 billion. During the same quarter in the prior year, the company earned $4.37 EPS. JPMorgan Chase & Co.’s revenue was up 8.8% compared to the same quarter last year. As a group, sell-side analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, October 6th will be paid a dividend of $1.50 per share. The ex-dividend date of this dividend is Monday, October 6th. This represents a $6.00 annualized dividend and a yield of 2.0%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. JPMorgan Chase & Co.’s dividend payout ratio is currently 29.72%.

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.