JPMorgan Chase & Co. $JPM Shares Sold by Princeton Global Asset Management LLC

Princeton Global Asset Management LLC reduced its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 64,611 shares of the financial services provider’s stock after selling 182 shares during the period. JPMorgan Chase & Co. makes up approximately 3.4% of Princeton Global Asset Management LLC’s investment portfolio, making the stock its 4th biggest holding. Princeton Global Asset Management LLC’s holdings in JPMorgan Chase & Co. were worth $18,732,000 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. Kingstone Capital Partners Texas LLC lifted its position in JPMorgan Chase & Co. by 609,867.5% during 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 purchasing an additional 72,885,260 shares during the period. Nuveen LLC acquired a new position in JPMorgan Chase & Co. during the first quarter valued at $3,972,807,000. Montrusco Bolton Investments Inc. acquired a new position in JPMorgan Chase & Co. during the second quarter valued at $485,802,000. International Assets Investment Management LLC acquired a new position in JPMorgan Chase & Co. during the second quarter valued at $458,104,000. Finally, National Bank of Canada FI lifted its position in JPMorgan Chase & Co. by 44.4% during the first quarter. National Bank of Canada FI now owns 4,518,740 shares of the financial services provider’s stock valued at $1,108,415,000 after purchasing an additional 1,388,992 shares during the period. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Loop Capital set a $310.00 target price on shares of JPMorgan Chase & Co. in a research report on Thursday, October 23rd. Wolfe Research boosted their target price on shares of JPMorgan Chase & Co. from $342.00 to $346.00 and gave the company an “outperform” rating in a research report on Thursday, October 16th. Evercore ISI boosted their target price on shares of JPMorgan Chase & Co. from $309.00 to $330.00 and gave the company an “outperform” rating in a research report on Tuesday, September 30th. UBS Group boosted their target price on shares of JPMorgan Chase & Co. from $339.00 to $350.00 and gave the company a “buy” rating in a research report on Tuesday, October 7th. Finally, Wells Fargo & Company boosted their target price on shares of JPMorgan Chase & Co. from $325.00 to $345.00 and gave the company an “overweight” rating in a research report on Tuesday, September 16th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, nine have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $322.27.

JPMorgan Chase & Co. Stock Up 1.2%

JPM stock opened at $309.28 on Friday. The stock has a market capitalization of $850.43 billion, a P/E ratio of 15.32, a P/E/G ratio of 1.84 and a beta of 1.13. The firm has a 50-day simple moving average of $304.61 and a 200-day simple moving average of $283.59. 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.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Tuesday, October 14th. The financial services provider reported $5.07 EPS for the quarter, topping analysts’ consensus estimates of $4.83 by $0.24. The business had revenue of $46.43 billion during the quarter, compared to analysts’ expectations of $44.42 billion. JPMorgan Chase & Co. had a net margin of 20.90% and a return on equity of 17.18%. The company’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.37 earnings per share. Equities analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share 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 paid a dividend of $1.50 per share. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Monday, October 6th. JPMorgan Chase & Co.’s dividend payout ratio is presently 29.72%.

Insider Activity at JPMorgan Chase & Co.

In other news, Director Linda Bammann sold 9,500 shares of the business’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 $24,492,753.58. The trade was a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.47% of the stock is owned by corporate insiders.

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.