Oppenheimer Asset Management Inc. Cuts Stake in JPMorgan Chase & Co. $JPM

Oppenheimer Asset Management Inc. trimmed its position in JPMorgan Chase & Co. (NYSE:JPM) by 0.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 466,333 shares of the financial services provider’s stock after selling 1,180 shares during the period. JPMorgan Chase & Co. makes up approximately 1.6% of Oppenheimer Asset Management Inc.’s investment portfolio, making the stock its 6th largest holding. Oppenheimer Asset Management Inc.’s holdings in JPMorgan Chase & Co. were worth $135,195,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Florida Financial Advisors LLC grew its holdings in JPMorgan Chase & Co. by 62.5% during the first quarter. Florida Financial Advisors LLC now owns 9,863 shares of the financial services provider’s stock worth $2,416,000 after purchasing an additional 3,792 shares during the period. Mosaic Financial Group LLC grew its position in shares of JPMorgan Chase & Co. by 0.8% in the first quarter. Mosaic Financial Group LLC now owns 9,296 shares of the financial services provider’s stock valued at $2,280,000 after purchasing an additional 78 shares during the last quarter. Morse Asset Management Inc increased its position in JPMorgan Chase & Co. by 19.5% during the 1st quarter. Morse Asset Management Inc now owns 2,569 shares of the financial services provider’s stock worth $630,000 after buying an additional 420 shares during the period. China Universal Asset Management Co. Ltd. boosted its holdings in JPMorgan Chase & Co. by 11.1% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 15,648 shares of the financial services provider’s stock valued at $3,838,000 after purchasing an additional 1,561 shares during the period. Finally, Woodward Diversified Capital LLC increased its stake in JPMorgan Chase & Co. by 3.4% during the 1st quarter. Woodward Diversified Capital LLC now owns 8,032 shares of the financial services provider’s stock worth $1,970,000 after acquiring an additional 263 shares during the period. Institutional investors and hedge funds own 71.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on JPM. 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. Royal Bank Of Canada reiterated a “buy” rating and issued a $343.00 target price on shares of JPMorgan Chase & Co. in a report on Tuesday, October 14th. UBS Group lifted their target price on shares of JPMorgan Chase & Co. from $339.00 to $350.00 and gave the stock a “buy” rating in a research note on Tuesday, October 7th. Wolfe Research boosted their target price on shares of JPMorgan Chase & Co. from $342.00 to $346.00 and gave the company an “outperform” rating in a research report on Thursday, October 16th. Finally, Loop Capital set a $310.00 target price on JPMorgan Chase & Co. in a research report on Thursday, October 23rd. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $326.38.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock opened at $311.85 on Thursday. The firm’s 50-day simple moving average is $305.66 and its two-hundred day simple moving average is $286.14. JPMorgan Chase & Co. has a 52 week low of $202.16 and a 52 week high of $318.01. The firm has a market cap of $857.51 billion, a price-to-earnings ratio of 15.45, a P/E/G 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. (NYSE:JPM) last issued its earnings results on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $44.42 billion. During the same period in the previous year, the company posted $4.37 earnings per share. The business’s revenue was up 8.8% on a year-over-year basis. As a group, equities analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

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

Insider Buying and Selling

In related 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 of the company’s stock, valued at approximately $24,492,753.58. The trade was a 10.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate 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.