Ingalls & Snyder LLC Sells 1,140 Shares of JPMorgan Chase & Co. $JPM

Ingalls & Snyder LLC decreased its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 209,886 shares of the financial services provider’s stock after selling 1,140 shares during the quarter. JPMorgan Chase & Co. comprises about 2.2% of Ingalls & Snyder LLC’s portfolio, making the stock its 8th biggest holding. Ingalls & Snyder LLC’s holdings in JPMorgan Chase & Co. were worth $60,848,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Harbor Asset Planning Inc. acquired a new position in shares of JPMorgan Chase & Co. during the 2nd quarter valued at about $26,000. MJT & Associates Financial Advisory Group Inc. acquired a new position in shares of JPMorgan Chase & Co. in the 1st quarter valued at $28,000. University of Illinois Foundation purchased a new position in shares of JPMorgan Chase & Co. during the 1st quarter worth $30,000. Ryan Investment Management Inc. acquired a new stake in shares of JPMorgan Chase & Co. during the 2nd quarter worth about $37,000. Finally, Christopher J. Hasenberg Inc raised its holdings in JPMorgan Chase & Co. by 212.0% in the 2nd 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 during the period. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Linda Bammann sold 9,500 shares of the 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 sale, the director directly owned 82,207 shares in the company, valued at $24,492,753.58. This represents a 10.36% decrease in their ownership of the stock. The transaction 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 company insiders.

Analysts Set New Price Targets

JPM has been the subject of several research reports. UBS Group lifted their target price on shares of JPMorgan Chase & Co. from $339.00 to $350.00 and gave the company a “buy” rating in a report on Tuesday, October 7th. Wells Fargo & Company raised their target price on shares of JPMorgan Chase & Co. from $345.00 to $350.00 and gave the company an “overweight” rating in a report on Monday. DZ Bank reiterated a “neutral” rating on shares of JPMorgan Chase & Co. in a report on Wednesday, October 15th. Cowen reiterated a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, July 16th. Finally, Dbs Bank raised shares of JPMorgan Chase & Co. to a “hold” rating in a report on Tuesday, October 21st. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, JPMorgan Chase & Co. presently has an average rating of “Moderate Buy” and an average price target of $326.38.

JPMorgan Chase & Co. Trading Up 0.8%

Shares of JPMorgan Chase & Co. stock opened at $311.85 on Thursday. The company has a 50-day moving average of $305.66 and a two-hundred day 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 current ratio of 0.86, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. The stock has a market cap of $857.51 billion, a PE 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 released its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share for the quarter, topping analysts’ consensus estimates of $4.83 by $0.24. The business had revenue of $46.43 billion for 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%.The company’s revenue was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.37 EPS. On average, research analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

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

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.