JPMorgan Chase & Co. $JPM Shares Sold by Patten & Patten Inc. TN

Patten & Patten Inc. TN reduced its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 2.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 126,848 shares of the financial services provider’s stock after selling 3,575 shares during the quarter. JPMorgan Chase & Co. accounts for 2.4% of Patten & Patten Inc. TN’s portfolio, making the stock its 9th largest position. Patten & Patten Inc. TN’s holdings in JPMorgan Chase & Co. were worth $36,774,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently bought and sold shares of the stock. Davidson Investment Advisors raised its stake in JPMorgan Chase & Co. by 2.2% during the second quarter. Davidson Investment Advisors now owns 4,093 shares of the financial services provider’s stock worth $1,187,000 after acquiring an additional 87 shares in the last quarter. Uptick Partners LLC grew its holdings in shares of JPMorgan Chase & Co. by 60.9% during the second quarter. Uptick Partners LLC now owns 7,022 shares of the financial services provider’s stock worth $2,036,000 after purchasing an additional 2,658 shares during the last quarter. Duncker Streett & Co. Inc. grew its holdings in shares of JPMorgan Chase & Co. by 1.7% during the second quarter. Duncker Streett & Co. Inc. now owns 45,728 shares of the financial services provider’s stock worth $13,257,000 after purchasing an additional 744 shares during the last quarter. IFG Advisors LLC grew its holdings in shares of JPMorgan Chase & Co. by 0.6% during the second quarter. IFG Advisors LLC now owns 8,525 shares of the financial services provider’s stock worth $2,472,000 after purchasing an additional 49 shares during the last quarter. Finally, Tuttle Capital Management LLC grew its holdings in shares of JPMorgan Chase & Co. by 14.9% during the second quarter. Tuttle Capital Management LLC now owns 2,594 shares of the financial services provider’s stock worth $752,000 after purchasing an additional 336 shares during the last quarter. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on JPM shares. Wolfe Research raised their price target on JPMorgan Chase & Co. from $342.00 to $346.00 and gave the company an “outperform” rating in a report on Thursday, October 16th. UBS Group raised their price target on JPMorgan Chase & Co. from $339.00 to $350.00 and gave the company a “buy” rating in a report on Tuesday, October 7th. Hsbc Global Res cut JPMorgan Chase & Co. from a “hold” rating to a “moderate sell” rating in a report on Tuesday, July 8th. Royal Bank Of Canada reiterated a “buy” rating and issued a $343.00 price target on shares of JPMorgan Chase & Co. in a report on Tuesday, October 14th. Finally, KGI Securities raised their target price on JPMorgan Chase & Co. from $300.00 to $315.00 and gave the stock a “hold” rating in a report on Wednesday, October 15th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $322.27.

Insider Transactions at JPMorgan Chase & Co.

In related news, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction that occurred on 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 sale, the director owned 82,207 shares of the company’s stock, valued at approximately $24,492,753.58. This trade represents a 10.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.47% of the company’s stock.

JPMorgan Chase & Co. Trading Up 1.9%

NYSE:JPM opened at $300.27 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 debt-to-equity ratio of 1.26, a current ratio of 0.86 and a quick ratio of 0.88. The stock has a market capitalization of $825.66 billion, a PE ratio of 14.87, a price-to-earnings-growth ratio of 1.81 and a beta of 1.13. The business’s 50-day simple moving average is $303.43 and its 200-day simple moving average is $281.56.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share 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 for the quarter, compared to analysts’ expectations of $44.42 billion. During the same quarter in the previous year, the business posted $4.37 EPS. JPMorgan Chase & Co.’s revenue for the quarter was up 8.8% on a year-over-year basis. Sell-side analysts expect 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 announced 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 of this dividend is Monday, October 6th. This represents a $6.00 dividend on an annualized basis 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 payout ratio 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.