Connors Investor Services Inc. Sells 1,762 Shares of JPMorgan Chase & Co. $JPM

Connors Investor Services Inc. reduced its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 2.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 68,397 shares of the financial services provider’s stock after selling 1,762 shares during the quarter. JPMorgan Chase & Co. comprises 1.8% of Connors Investor Services Inc.’s investment portfolio, making the stock its 14th largest position. Connors Investor Services Inc.’s holdings in JPMorgan Chase & Co. were worth $19,829,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Kingstone Capital Partners Texas LLC lifted its holdings in JPMorgan Chase & Co. by 609,867.5% in the second quarter. Kingstone Capital Partners Texas LLC now owns 72,897,211 shares of the financial services provider’s stock worth $21,133,630,000 after buying an additional 72,885,260 shares during the period. Bank of New York Mellon Corp lifted its holdings in JPMorgan Chase & Co. by 1.9% in the first quarter. Bank of New York Mellon Corp now owns 24,801,153 shares of the financial services provider’s stock worth $6,083,723,000 after buying an additional 454,226 shares during the period. Goldman Sachs Group Inc. lifted its holdings in JPMorgan Chase & Co. by 2.7% in the first quarter. Goldman Sachs Group Inc. now owns 20,548,182 shares of the financial services provider’s stock worth $5,040,469,000 after buying an additional 548,853 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in JPMorgan Chase & Co. by 5.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 18,441,044 shares of the financial services provider’s stock worth $4,523,588,000 after buying an additional 890,553 shares during the period. Finally, Nuveen LLC purchased a new stake in JPMorgan Chase & Co. in the first quarter worth about $3,972,807,000. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Linda Bammann sold 9,500 shares of the company’s 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 completion of the sale, the director owned 82,207 shares in the company, valued at approximately $24,492,753.58. This represents a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.47% of the company’s stock.

JPMorgan Chase & Co. Stock Up 0.7%

JPMorgan Chase & Co. stock opened at $311.47 on Monday. The stock has a market cap of $856.48 billion, a PE ratio of 15.43, a price-to-earnings-growth 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. JPMorgan Chase & Co. has a one year low of $202.16 and a one year high of $318.01. The stock has a fifty day moving average of $304.92 and a 200 day moving average of $284.86.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $5.07 EPS for the quarter, beating analysts’ consensus estimates of $4.83 by $0.24. The company had revenue of $46.43 billion during the quarter, compared to analysts’ expectations 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 revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.37 earnings per share. As a group, sell-side analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed 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 dividend on an annualized basis 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 currently 29.72%.

Analysts Set New Price Targets

JPM has been the subject of several research analyst reports. KGI Securities raised their price objective on shares of JPMorgan Chase & Co. from $300.00 to $315.00 and gave the stock a “hold” rating in a report on Wednesday, October 15th. Phillip Securities downgraded shares of JPMorgan Chase & Co. from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, July 16th. Zacks Research raised shares of JPMorgan Chase & Co. from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 20th. Weiss Ratings raised shares of JPMorgan Chase & Co. from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Saturday, October 25th. Finally, HSBC reiterated a “reduce” rating and set a $259.00 price objective on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 8th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, JPMorgan Chase & Co. presently has a consensus rating of “Moderate Buy” and a consensus price target 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.