Freedom Investment Management Inc. Trims Stake in JPMorgan Chase & Co. $JPM

Freedom Investment Management Inc. lowered its stake in JPMorgan Chase & Co. (NYSE:JPM) by 4.7% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,147 shares of the financial services provider’s stock after selling 352 shares during the period. Freedom Investment Management Inc.’s holdings in JPMorgan Chase & Co. were worth $2,072,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in JPM. Harbor Asset Planning Inc. purchased a new stake in shares of JPMorgan Chase & Co. in the 2nd quarter worth approximately $26,000. MJT & Associates Financial Advisory Group Inc. purchased a new stake in shares of JPMorgan Chase & Co. in the 1st quarter worth approximately $28,000. University of Illinois Foundation purchased a new stake in shares of JPMorgan Chase & Co. in the 1st quarter worth approximately $30,000. Ryan Investment Management Inc. purchased a new stake in shares of JPMorgan Chase & Co. in the 2nd quarter worth approximately $37,000. Finally, Christopher J. Hasenberg Inc grew its stake in shares of 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 buying an additional 106 shares during the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. 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 research note on Friday, October 3rd. KGI Securities upped their price objective on JPMorgan Chase & Co. from $300.00 to $315.00 and gave the company a “hold” rating in a research report on Wednesday, October 15th. Wolfe Research upped their price objective on JPMorgan Chase & Co. from $342.00 to $346.00 and gave the company an “outperform” rating in a research report on Thursday, October 16th. Zacks Research raised JPMorgan Chase & Co. from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 20th. Finally, Evercore ISI upped their price objective on JPMorgan Chase & Co. from $309.00 to $330.00 and gave the company an “outperform” rating in a research report on Tuesday, September 30th. Two investment 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 given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $322.27.

JPMorgan Chase & Co. Price Performance

NYSE JPM opened at $311.47 on Friday. The stock 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. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.86 and a quick ratio of 0.88. The business’s fifty day moving average price is $304.92 and its 200-day moving average price is $284.48. JPMorgan Chase & Co. has a 1-year low of $202.16 and a 1-year 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 earnings per share for the quarter, beating the consensus estimate of $4.83 by $0.24. The company had revenue of $46.43 billion for 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 period in the previous year, the business earned $4.37 earnings per share. On average, equities analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Monday, October 6th were given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 1.9%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. The ex-dividend date was Monday, October 6th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 29.72%.

Insiders Place Their Bets

In related news, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. 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 transaction, the director directly owned 82,207 shares in the company, valued at approximately $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 accessible through the SEC website. Company insiders own 0.47% of the company’s stock.

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.