Sanders Morris Harris LLC Sells 8,895 Shares of JPMorgan Chase & Co. $JPM

Sanders Morris Harris LLC trimmed its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 44.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,089 shares of the financial services provider’s stock after selling 8,895 shares during the period. JPMorgan Chase & Co. comprises approximately 0.8% of Sanders Morris Harris LLC’s investment portfolio, making the stock its 17th largest holding. Sanders Morris Harris LLC’s holdings in JPMorgan Chase & Co. were worth $3,215,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Florida Financial Advisors LLC increased its holdings in shares of JPMorgan Chase & Co. by 62.5% in the 1st quarter. Florida Financial Advisors LLC now owns 9,863 shares of the financial services provider’s stock worth $2,416,000 after buying an additional 3,792 shares during the last quarter. Crown Wealth Group LLC boosted its stake in JPMorgan Chase & Co. by 5.4% in the first quarter. Crown Wealth Group LLC now owns 4,320 shares of the financial services provider’s stock worth $1,060,000 after buying an additional 222 shares in the last quarter. Mosaic Financial Group LLC boosted its stake in JPMorgan Chase & Co. by 0.8% in the first quarter. Mosaic Financial Group LLC now owns 9,296 shares of the financial services provider’s stock worth $2,280,000 after buying an additional 78 shares in the last quarter. Morse Asset Management Inc boosted its stake in JPMorgan Chase & Co. by 19.5% in the first quarter. Morse Asset Management Inc now owns 2,569 shares of the financial services provider’s stock worth $630,000 after buying an additional 420 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. boosted its stake in JPMorgan Chase & Co. by 11.1% in the first quarter. China Universal Asset Management Co. Ltd. now owns 15,648 shares of the financial services provider’s stock worth $3,838,000 after buying an additional 1,561 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors.

Insider Buying and Selling

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 value 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. This trade represents a 10.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.47% of the stock is owned by insiders.

Wall Street Analyst Weigh In

JPM has been the subject of several research reports. Deutsche Bank Aktiengesellschaft upped 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. Daiwa Capital Markets upped 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. Phillip Securities lowered JPMorgan Chase & Co. from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, July 16th. Weiss Ratings raised JPMorgan Chase & Co. from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Saturday, October 25th. Finally, Morgan Stanley upped their target price on JPMorgan Chase & Co. from $336.00 to $338.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 15th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $322.27.

JPMorgan Chase & Co. Trading Up 0.7%

Shares of JPM opened at $311.47 on Friday. The stock has a market capitalization of $856.48 billion, a P/E ratio of 15.43, a PEG ratio of 1.84 and a beta of 1.13. The company has a quick ratio of 0.88, a current ratio of 0.86 and a debt-to-equity ratio of 1.26. The firm has a fifty day simple moving average of $304.92 and a two-hundred day simple moving average of $284.12. JPMorgan Chase & Co. has a twelve month low of $202.16 and a twelve month high of $318.01.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results 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 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 firm’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.37 EPS. On average, research analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Monday, October 6th were paid a $1.50 dividend. The ex-dividend date of this dividend was Monday, October 6th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. This represents a $6.00 dividend on an annualized basis and a yield of 1.9%. JPMorgan Chase & Co.’s payout ratio is 29.72%.

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.