Mutual of America Capital Management LLC Sells 8,437 Shares of JPMorgan Chase & Co. $JPM

Mutual of America Capital Management LLC lessened its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 2.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 339,703 shares of the financial services provider’s stock after selling 8,437 shares during the quarter. JPMorgan Chase & Co. comprises approximately 1.1% of Mutual of America Capital Management LLC’s holdings, making the stock its 11th largest position. Mutual of America Capital Management LLC’s holdings in JPMorgan Chase & Co. were worth $98,483,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Signature Estate & Investment Advisors LLC boosted its stake in shares of JPMorgan Chase & Co. by 8.9% during the 2nd quarter. Signature Estate & Investment Advisors LLC now owns 23,416 shares of the financial services provider’s stock worth $6,789,000 after acquiring an additional 1,909 shares in the last quarter. Woodard & Co. Asset Management Group Inc. ADV boosted its stake in shares of JPMorgan Chase & Co. by 4.4% during the 2nd quarter. Woodard & Co. Asset Management Group Inc. ADV now owns 8,132 shares of the financial services provider’s stock worth $2,358,000 after acquiring an additional 346 shares in the last quarter. Monument Group Wealth Advisors LLC boosted its stake in shares of JPMorgan Chase & Co. by 9.6% during the 2nd quarter. Monument Group Wealth Advisors LLC now owns 1,644 shares of the financial services provider’s stock worth $477,000 after acquiring an additional 144 shares in the last quarter. United Bank boosted its stake in shares of JPMorgan Chase & Co. by 5.2% during the 2nd quarter. United Bank now owns 28,014 shares of the financial services provider’s stock worth $8,122,000 after acquiring an additional 1,392 shares in the last quarter. Finally, Novare Capital Management LLC boosted its stake in shares of JPMorgan Chase & Co. by 1.3% during the 2nd quarter. Novare Capital Management LLC now owns 80,362 shares of the financial services provider’s stock worth $23,298,000 after acquiring an additional 1,011 shares in the last quarter. Institutional investors own 71.55% of the company’s stock.

Insiders Place Their Bets

In related news, Director Linda Bammann sold 9,500 shares of the firm’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 trade represents a 10.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.47% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Cowen restated a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, July 16th. TD Cowen upped their price target on JPMorgan Chase & Co. from $350.00 to $370.00 and gave the stock a “buy” rating in a report on Friday, October 3rd. Hsbc Global Res lowered JPMorgan Chase & Co. from a “hold” rating to a “moderate sell” rating in a report on Tuesday, July 8th. Phillip Securities lowered JPMorgan Chase & Co. from a “moderate buy” rating to a “hold” rating in a report on Wednesday, July 16th. Finally, Weiss Ratings upgraded JPMorgan Chase & Co. from a “buy (b+)” rating to a “buy (a-)” rating in a report on Saturday. 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 issued a Sell rating to the company’s stock. According to data from MarketBeat.com, JPMorgan Chase & Co. currently has a consensus rating of “Moderate Buy” and an average price target of $322.27.

JPMorgan Chase & Co. Trading Up 0.4%

Shares of JPM opened at $305.29 on Wednesday. JPMorgan Chase & Co. has a 1 year low of $202.16 and a 1 year high of $318.01. 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 stock has a 50 day simple moving average of $303.98 and a 200-day simple moving average of $282.92. The stock has a market cap of $839.48 billion, a PE ratio of 15.12, a PEG ratio of 1.83 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $44.42 billion. During the same period in the prior year, the firm posted $4.37 EPS. JPMorgan Chase & Co.’s quarterly revenue was up 8.8% compared to the same quarter last year. On average, sell-side analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal 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 $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Monday, October 6th. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. JPMorgan Chase & Co.’s payout ratio is currently 29.72%.

JPMorgan Chase & Co. Company 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.