JPMorgan Chase & Co. $JPM Stake Reduced by RNC Capital Management LLC

RNC Capital Management LLC trimmed its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 271,969 shares of the financial services provider’s stock after selling 441 shares during the quarter. JPMorgan Chase & Co. comprises about 3.8% of RNC Capital Management LLC’s holdings, making the stock its biggest holding. RNC Capital Management LLC’s holdings in JPMorgan Chase & Co. were worth $78,846,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Harbor Asset Planning Inc. purchased a new stake in JPMorgan Chase & Co. during the 2nd quarter valued at about $26,000. MJT & Associates Financial Advisory Group Inc. purchased a new stake in JPMorgan Chase & Co. during the 1st quarter valued at about $28,000. University of Illinois Foundation purchased a new stake in JPMorgan Chase & Co. during the 1st quarter valued at about $30,000. Ryan Investment Management Inc. purchased a new stake in JPMorgan Chase & Co. during the 2nd quarter valued at about $37,000. Finally, Christopher J. Hasenberg Inc lifted its stake in JPMorgan Chase & Co. by 212.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 106 shares during the period. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Stock Performance

JPM opened at $311.47 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. The company has a market cap 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’s 50 day moving average is $304.92 and its 200 day moving average is $284.48. JPMorgan Chase & Co. has a 12-month low of $202.16 and a 12-month 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 (EPS) for the quarter, topping analysts’ consensus estimates of $4.83 by $0.24. JPMorgan Chase & Co. had a net margin of 20.90% and a return on equity of 17.18%. The company had revenue of $46.43 billion for the quarter, compared to the consensus estimate of $44.42 billion. During the same quarter last year, the firm posted $4.37 earnings per share. The firm’s revenue was up 8.8% compared to the same quarter last year. On average, equities research analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Monday, October 6th were issued 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 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Monday, October 6th. JPMorgan Chase & Co.’s payout ratio is presently 29.72%.

Insiders Place Their Bets

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 shares were sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.47% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. HSBC restated a “reduce” rating and set a $259.00 target price on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 8th. Dbs Bank raised shares of JPMorgan Chase & Co. to a “hold” rating in a research report on Tuesday, October 21st. Deutsche Bank Aktiengesellschaft boosted their target price on shares of JPMorgan Chase & Co. from $300.00 to $320.00 and gave the company a “hold” rating in a research note on Tuesday, September 30th. Hsbc Global Res lowered shares of JPMorgan Chase & Co. from a “hold” rating to a “moderate sell” rating in a research note on Tuesday, July 8th. 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 note on Tuesday, September 16th. Two research 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 assigned a Sell rating to the stock. Based on data from MarketBeat, JPMorgan Chase & Co. has an average rating of “Moderate Buy” and an average target price of $322.27.

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.