JPMorgan Chase & Co. $JPM Shares Sold by Pinnacle Wealth Management Group Inc.

Pinnacle Wealth Management Group Inc. decreased its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 2.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,999 shares of the financial services provider’s stock after selling 260 shares during the quarter. JPMorgan Chase & Co. comprises 1.8% of Pinnacle Wealth Management Group Inc.’s holdings, making the stock its 18th largest holding. Pinnacle Wealth Management Group Inc.’s holdings in JPMorgan Chase & Co. were worth $3,189,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Harbor Asset Planning Inc. acquired a new stake in shares of JPMorgan Chase & Co. during the 2nd quarter worth about $26,000. MJT & Associates Financial Advisory Group Inc. acquired a new stake in shares of JPMorgan Chase & Co. during the first quarter valued at about $28,000. University of Illinois Foundation acquired a new stake in shares of JPMorgan Chase & Co. during the first quarter valued at about $30,000. Ryan Investment Management Inc. acquired a new stake in shares of JPMorgan Chase & Co. during the second quarter valued at about $37,000. Finally, Christopher J. Hasenberg Inc increased its position in shares of JPMorgan Chase & Co. by 212.0% during the second 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 last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Trading Down 0.6%

JPM opened at $309.19 on Tuesday. JPMorgan Chase & Co. has a 12 month low of $202.16 and a 12 month high of $318.01. The stock has a market capitalization of $850.18 billion, a price-to-earnings ratio of 15.31, 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 has a fifty day moving average price of $305.20 and a 200 day moving average price of $285.41.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Tuesday, October 14th. The financial services provider reported $5.07 EPS for the quarter, topping the consensus estimate of $4.83 by $0.24. JPMorgan Chase & Co. had a return on equity of 17.18% and a net margin of 20.90%.The firm had revenue of $46.43 billion during the quarter, compared to analysts’ expectations of $44.42 billion. During the same period in the previous year, the firm posted $4.37 EPS. JPMorgan Chase & Co.’s revenue for the quarter was up 8.8% on a year-over-year basis. Sell-side analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

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

Insider Buying and Selling

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the business’s 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 completion of the transaction, the director owned 82,207 shares in the company, valued at $24,492,753.58. The trade was a 10.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.47% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft lifted their target price on shares of JPMorgan Chase & Co. from $300.00 to $320.00 and gave the company a “hold” rating in a report on Tuesday, September 30th. UBS Group boosted their price objective on JPMorgan Chase & Co. from $339.00 to $350.00 and gave the company a “buy” rating in a report on Tuesday, October 7th. Cowen reiterated a “buy” rating on shares of JPMorgan Chase & Co. in a report on Wednesday, July 16th. Wells Fargo & Company lifted their target price on JPMorgan Chase & Co. from $345.00 to $350.00 and gave the company an “overweight” rating in a research report on Monday. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $366.00 target price on shares of JPMorgan Chase & Co. in a research report on Tuesday, October 14th. 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 assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $322.50.

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.