JPMorgan Chase & Co. $JPM Stake Reduced by Ruedi Wealth Management Inc.

Ruedi Wealth Management Inc. reduced its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 31.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,409 shares of the financial services provider’s stock after selling 660 shares during the quarter. Ruedi Wealth Management Inc.’s holdings in JPMorgan Chase & Co. were worth $408,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. MJT & Associates Financial Advisory Group Inc. bought a new position in shares of JPMorgan Chase & Co. in the first quarter worth $28,000. University of Illinois Foundation bought a new position in shares of JPMorgan Chase & Co. in the first quarter worth $30,000. Ryan Investment Management Inc. bought a new position in shares of JPMorgan Chase & Co. in the second quarter worth $37,000. Christopher J. Hasenberg Inc grew its stake in shares of JPMorgan Chase & Co. by 212.0% in the second quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 106 shares in the last quarter. Finally, Goodman Advisory Group LLC bought a new position in shares of JPMorgan Chase & Co. in the first quarter worth $76,000. Institutional investors own 71.55% of the company’s stock.

Analysts Set New Price Targets

JPM has been the subject of several recent analyst reports. Morgan Stanley increased their price target on JPMorgan Chase & Co. from $336.00 to $338.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 15th. Keefe, Bruyette & Woods upped their price objective on JPMorgan Chase & Co. from $330.00 to $354.00 and gave the company an “outperform” rating in a report on Friday, October 10th. KGI Securities upped their price objective on JPMorgan Chase & Co. from $300.00 to $315.00 and gave the company a “hold” rating in a report on Wednesday, October 15th. Wolfe Research upped their price objective on JPMorgan Chase & Co. from $342.00 to $346.00 and gave the company an “outperform” rating in a report on Thursday, October 16th. Finally, Robert W. Baird lowered JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $235.00 price objective for the company. in a report on Friday, June 27th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $322.86.

Insider Activity at JPMorgan Chase & Co.

In other news, Director Linda Bammann sold 9,500 shares of the company’s stock in a transaction on Tuesday, September 2nd. The stock was 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 directly owned 82,207 shares of the company’s stock, valued at $24,492,753.58. This 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 at the SEC website. 0.47% of the stock is currently owned by corporate insiders.

JPMorgan Chase & Co. Trading Down 1.1%

Shares of NYSE JPM opened at $293.83 on Thursday. JPMorgan Chase & Co. has a 12 month low of $202.16 and a 12 month high of $318.01. The company has a market cap of $807.96 billion, a price-to-earnings ratio of 14.55, a P/E/G ratio of 1.79 and a beta of 1.13. The company has a quick ratio of 0.88, a current ratio of 0.86 and a debt-to-equity ratio of 1.26. The business has a fifty day simple moving average of $303.23 and a 200-day simple moving average of $279.98.

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

JPMorgan Chase & Co. Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, October 6th will be issued a dividend of $1.50 per share. 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%. The ex-dividend date of this dividend is Monday, October 6th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) 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.