Probity Advisors Inc. Sells 770 Shares of JPMorgan Chase & Co. $JPM

Probity Advisors Inc. reduced its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 14.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,450 shares of the financial services provider’s stock after selling 770 shares during the quarter. Probity Advisors Inc.’s holdings in JPMorgan Chase & Co. were worth $1,290,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Harbor Asset Planning Inc. bought a new position in shares of JPMorgan Chase & Co. during the second quarter valued at about $26,000. MJT & Associates Financial Advisory Group Inc. purchased a new stake in shares of JPMorgan Chase & Co. during the first quarter worth about $28,000. University of Illinois Foundation purchased a new stake in shares of JPMorgan Chase & Co. during the first quarter worth about $30,000. Ryan Investment Management Inc. purchased a new stake in shares of JPMorgan Chase & Co. during the second quarter worth about $37,000. Finally, Christopher J. Hasenberg Inc boosted its holdings in shares of JPMorgan Chase & Co. by 212.0% during 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 during the period. 71.55% of the stock is owned by institutional investors.

Insider Activity

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 shares were sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the completion of the transaction, the director directly owned 82,207 shares in the company, valued at approximately $24,492,753.58. This trade represents 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 accessible through the SEC website. Insiders own 0.47% of the company’s stock.

Wall Street Analyst Weigh In

JPM has been the subject of a number of analyst reports. Barclays increased their target price on shares of JPMorgan Chase & Co. from $330.00 to $342.00 and gave the stock an “overweight” rating in a report on Wednesday, October 15th. Phillip Securities lowered shares of JPMorgan Chase & Co. from a “moderate buy” rating to a “hold” rating in a report on Wednesday, July 16th. Deutsche Bank Aktiengesellschaft increased their target price on shares of JPMorgan Chase & Co. from $300.00 to $320.00 and gave the stock a “hold” rating in a report on Tuesday, September 30th. Daiwa Capital Markets increased their target price on shares of JPMorgan Chase & Co. from $330.00 to $332.00 and gave the stock an “outperform” rating in a report on Wednesday, October 8th. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $366.00 target price on shares of JPMorgan Chase & Co. in a report on Tuesday, October 14th. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $322.27.

JPMorgan Chase & Co. Stock Performance

JPMorgan Chase & Co. stock opened at $309.28 on Friday. The stock’s 50 day simple moving average is $304.61 and its two-hundred day simple moving average is $283.59. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.86. The stock has a market cap of $850.43 billion, a price-to-earnings ratio of 15.32, a PEG ratio of 1.84 and a beta of 1.13. JPMorgan Chase & Co. has a fifty-two week low of $202.16 and a fifty-two week high of $318.01.

JPMorgan Chase & Co. (NYSE:JPM) last posted 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. The business had revenue of $46.43 billion for the quarter, compared to analysts’ expectations 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 period in the previous year, the firm posted $4.37 EPS. As a group, analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm 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. The ex-dividend date is Monday, October 6th. 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 1.9%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 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.