Blume Capital Management Inc. Sells 231 Shares of JPMorgan Chase & Co. $JPM

Blume Capital Management Inc. lessened its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 1.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,744 shares of the financial services provider’s stock after selling 231 shares during the quarter. Blume Capital Management Inc.’s holdings in JPMorgan Chase & Co. were worth $6,304,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Harbor Asset Planning Inc. purchased a new stake in shares of JPMorgan Chase & Co. during the 2nd quarter valued at approximately $26,000. MJT & Associates Financial Advisory Group Inc. purchased a new stake in shares of JPMorgan Chase & Co. during the 1st quarter valued at approximately $28,000. University of Illinois Foundation purchased a new stake in shares of JPMorgan Chase & Co. during the 1st quarter valued at approximately $30,000. Ryan Investment Management Inc. purchased a new stake in shares of JPMorgan Chase & Co. during the 2nd quarter valued at approximately $37,000. Finally, Christopher J. Hasenberg Inc boosted its stake in JPMorgan Chase & Co. by 212.0% in the 2nd 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. Institutional investors own 71.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on JPM shares. Daiwa Capital Markets raised their target price on JPMorgan Chase & Co. from $330.00 to $332.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 8th. DZ Bank restated a “neutral” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, October 15th. Citigroup raised their target price on JPMorgan Chase & Co. from $275.00 to $325.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 24th. Dbs Bank upgraded JPMorgan Chase & Co. to a “hold” rating in a research note on Tuesday, October 21st. Finally, Deutsche Bank Aktiengesellschaft raised their target price on JPMorgan Chase & Co. from $300.00 to $320.00 and gave the stock a “hold” rating in a research note on Tuesday, September 30th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $322.27.

JPMorgan Chase & Co. Stock Performance

NYSE:JPM opened at $311.47 on Friday. The business has a 50 day moving average of $304.92 and a 200 day moving average of $284.12. The company has a market capitalization of $856.48 billion, a price-to-earnings ratio of 15.43, a PEG ratio of 1.84 and a beta of 1.13. JPMorgan Chase & Co. has a 1-year low of $202.16 and a 1-year 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.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share for the quarter, topping analysts’ consensus estimates of $4.83 by $0.24. The company had revenue of $46.43 billion during the quarter, compared to the consensus estimate of $44.42 billion. JPMorgan Chase & Co. had a return on equity of 17.18% and a net margin of 20.90%.JPMorgan Chase & Co.’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.37 EPS. On average, sell-side 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 was paid on Friday, October 31st. Investors of record on Monday, October 6th were given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date was Monday, October 6th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. JPMorgan Chase & Co.’s dividend payout ratio is presently 29.72%.

Insider Buying and Selling

In other JPMorgan Chase & Co. 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 transaction, the director directly owned 82,207 shares of the company’s stock, valued at $24,492,753.58. The trade was a 10.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.47% of the stock is owned by company insiders.

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.