Ballast Advisors LLC Sells 577 Shares of JPMorgan Chase & Co. $JPM

Ballast Advisors LLC cut its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 45,296 shares of the financial services provider’s stock after selling 577 shares during the quarter. JPMorgan Chase & Co. accounts for about 3.9% of Ballast Advisors LLC’s portfolio, making the stock its 9th biggest holding. Ballast Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $13,132,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Harbor Asset Planning Inc. bought a new position in shares of JPMorgan Chase & Co. in the second quarter valued at $26,000. MJT & Associates Financial Advisory Group Inc. acquired a new stake in shares of JPMorgan Chase & Co. during the 1st quarter worth about $28,000. University of Illinois Foundation bought a new position in shares of JPMorgan Chase & Co. during the first quarter worth approximately $30,000. Ryan Investment Management Inc. acquired a new position in shares of JPMorgan Chase & Co. in the second quarter valued at about $37,000. Finally, Christopher J. Hasenberg Inc raised its position in shares of JPMorgan Chase & Co. by 212.0% in the second quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider’s stock valued at $45,000 after buying an additional 106 shares in the last quarter. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Trading Up 0.8%

Shares of JPMorgan Chase & Co. stock opened at $311.85 on Thursday. 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 stock has a fifty day simple moving average of $305.66 and a 200 day simple moving average of $286.14. JPMorgan Chase & Co. has a 12-month low of $202.16 and a 12-month high of $318.01. The company has a market capitalization of $857.51 billion, a P/E ratio of 15.45, a price-to-earnings-growth ratio of 1.84 and a beta of 1.13.

JPMorgan Chase & Co. (NYSE:JPM) last issued 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. The business had revenue of $46.43 billion during the quarter, compared to the consensus estimate of $44.42 billion. JPMorgan Chase & Co. had a net margin of 20.90% and a return on equity of 17.18%. The firm’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.37 EPS. On average, sell-side 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. Investors of record on Monday, October 6th were paid a $1.50 dividend. The ex-dividend date was Monday, October 6th. This represents a $6.00 dividend on an annualized basis and a yield of 1.9%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 29.72%.

Insider Activity at JPMorgan Chase & Co.

In related news, Director Linda Bammann sold 9,500 shares of the firm’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 value of $2,830,430.00. Following the completion of the transaction, the director directly owned 82,207 shares of the company’s stock, 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 Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.47% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Weiss Ratings raised shares of JPMorgan Chase & Co. from a “buy (b+)” rating to a “buy (a-)” rating in a report on Saturday, October 25th. Morgan Stanley increased 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 research note on Wednesday, October 15th. Daiwa Capital Markets boosted their target price on shares of JPMorgan Chase & Co. from $330.00 to $332.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 8th. 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 note on Tuesday, September 30th. Finally, Phillip Securities cut JPMorgan Chase & Co. from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, July 16th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $326.38.

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.