Patten Group Inc. Cuts Holdings in JPMorgan Chase & Co. $JPM

Patten Group Inc. lowered its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 30,358 shares of the financial services provider’s stock after selling 536 shares during the quarter. JPMorgan Chase & Co. comprises 1.9% of Patten Group Inc.’s investment portfolio, making the stock its 8th biggest holding. Patten Group Inc.’s holdings in JPMorgan Chase & Co. were worth $8,801,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of JPM. Brighton Jones LLC boosted its position in JPMorgan Chase & Co. by 11.0% during the fourth quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider’s stock valued at $11,682,000 after acquiring an additional 4,841 shares during the last quarter. Ironwood Wealth Management LLC. raised its holdings in shares of JPMorgan Chase & Co. by 0.7% during the first quarter. Ironwood Wealth Management LLC. now owns 15,400 shares of the financial services provider’s stock valued at $3,778,000 after purchasing an additional 107 shares during the period. Acorns Advisers LLC raised its holdings in shares of JPMorgan Chase & Co. by 6.9% during the first quarter. Acorns Advisers LLC now owns 1,547 shares of the financial services provider’s stock valued at $379,000 after purchasing an additional 100 shares during the period. Joel Isaacson & Co. LLC raised its holdings in shares of JPMorgan Chase & Co. by 4.2% during the first quarter. Joel Isaacson & Co. LLC now owns 51,603 shares of the financial services provider’s stock valued at $12,658,000 after purchasing an additional 2,099 shares during the period. Finally, Cohen Investment Advisors LLC raised its holdings in shares of JPMorgan Chase & Co. by 1,993.3% during the first quarter. Cohen Investment Advisors LLC now owns 464,662 shares of the financial services provider’s stock valued at $113,982,000 after purchasing an additional 442,464 shares during the period. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Price Performance

Shares of NYSE JPM opened at $311.47 on Friday. JPMorgan Chase & Co. has a fifty-two week low of $202.16 and a fifty-two week high of $318.01. The stock 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 has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.86. The firm’s 50-day simple moving average is $304.92 and its 200 day simple moving average is $284.48.

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. JPMorgan Chase & Co. had a net margin of 20.90% and a return on equity of 17.18%. The business had revenue of $46.43 billion for the quarter, compared to analysts’ expectations of $44.42 billion. During the same quarter last year, the firm earned $4.37 EPS. The firm’s revenue for the quarter was up 8.8% compared to the same quarter last year. As a group, research analysts anticipate 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 disclosed a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Monday, October 6th were paid a $1.50 dividend. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. The ex-dividend date was Monday, October 6th. This represents a $6.00 annualized dividend and a yield of 1.9%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 29.72%.

Wall Street Analysts Forecast Growth

JPM has been the topic of several research reports. DZ Bank reiterated a “neutral” rating on shares of JPMorgan Chase & Co. in a report on Wednesday, October 15th. HSBC reiterated a “reduce” rating and set a $259.00 price objective on shares of JPMorgan Chase & Co. in a report on Tuesday, July 8th. TD Cowen upped their price objective on shares of JPMorgan Chase & Co. from $350.00 to $370.00 and gave the company a “buy” rating in a report on Friday, October 3rd. Wolfe Research upped their price objective on shares of JPMorgan Chase & Co. from $342.00 to $346.00 and gave the company an “outperform” rating in a report on Thursday, October 16th. Finally, Morgan Stanley upped their price objective on shares of JPMorgan Chase & Co. from $336.00 to $338.00 and gave the company an “equal weight” rating in a report on Wednesday, October 15th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, JPMorgan Chase & Co. presently has a consensus rating of “Moderate Buy” and an average target price of $322.27.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were 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 in the company, valued at approximately $24,492,753.58. This trade represents a 10.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.47% of the company’s stock.

JPMorgan Chase & Co. Company 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.