Latitude Advisors LLC Cuts Position in JPMorgan Chase & Co. $JPM

Latitude Advisors LLC trimmed its position in JPMorgan Chase & Co. (NYSE:JPM) by 1.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,148 shares of the financial services provider’s stock after selling 50 shares during the quarter. JPMorgan Chase & Co. accounts for approximately 0.8% of Latitude Advisors LLC’s portfolio, making the stock its 27th largest holding. Latitude Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $1,492,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Kingstone Capital Partners Texas LLC grew its stake in shares of JPMorgan Chase & Co. by 609,867.5% in the second quarter. Kingstone Capital Partners Texas LLC now owns 72,897,211 shares of the financial services provider’s stock valued at $21,133,630,000 after buying an additional 72,885,260 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of JPMorgan Chase & Co. by 1.9% in the first quarter. Bank of New York Mellon Corp now owns 24,801,153 shares of the financial services provider’s stock valued at $6,083,723,000 after buying an additional 454,226 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of JPMorgan Chase & Co. by 2.7% in the first quarter. Goldman Sachs Group Inc. now owns 20,548,182 shares of the financial services provider’s stock valued at $5,040,469,000 after buying an additional 548,853 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of JPMorgan Chase & Co. by 5.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 18,441,044 shares of the financial services provider’s stock valued at $4,523,588,000 after buying an additional 890,553 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in shares of JPMorgan Chase & Co. in the first quarter valued at about $3,972,807,000. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on JPM shares. Deutsche Bank Aktiengesellschaft increased their target price on JPMorgan Chase & Co. from $300.00 to $320.00 and gave the company a “hold” rating in a research note on Tuesday, September 30th. Daiwa Capital Markets raised their price objective on JPMorgan Chase & Co. from $330.00 to $332.00 and gave the company an “outperform” rating in a research note on Wednesday, October 8th. Citigroup lifted their price objective on JPMorgan Chase & Co. from $275.00 to $325.00 and gave the stock a “neutral” rating in a report on Wednesday, September 24th. TD Cowen lifted their price objective on JPMorgan Chase & Co. from $350.00 to $370.00 and gave the stock a “buy” rating in a report on Friday, October 3rd. Finally, Zacks Research upgraded JPMorgan Chase & Co. from a “hold” rating to a “strong-buy” rating in a report on Monday, October 20th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $322.27.

JPMorgan Chase & Co. Price Performance

JPM stock opened at $300.27 on Monday. The company has a quick ratio of 0.88, a current ratio of 0.86 and a debt-to-equity ratio of 1.26. JPMorgan Chase & Co. has a 52-week low of $202.16 and a 52-week high of $318.01. The stock’s 50 day moving average is $303.43 and its two-hundred day moving average is $281.89. The company has a market capitalization of $825.66 billion, a PE ratio of 14.87, a P/E/G ratio of 1.81 and a beta of 1.13.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Tuesday, October 14th. The financial services provider reported $5.07 EPS for the quarter, topping the consensus estimate of $4.83 by $0.24. The company had revenue of $46.43 billion during the quarter, compared to analyst estimates of $44.42 billion. JPMorgan Chase & Co. had a return on equity of 17.18% and a net margin of 20.90%.The business’s revenue was up 8.8% on a year-over-year basis. During the same quarter last year, the firm earned $4.37 EPS. 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 announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, October 6th will be given a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Monday, October 6th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. JPMorgan Chase & Co.’s payout ratio is 29.72%.

Insider Activity at JPMorgan Chase & Co.

In other 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 completion of the transaction, the director owned 82,207 shares in the company, valued at approximately $24,492,753.58. This trade represents a 10.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.47% of the company’s stock.

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.