Condor Capital Management Reduces Stock Position in JPMorgan Chase & Co. $JPM

Condor Capital Management reduced its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,298 shares of the financial services provider’s stock after selling 196 shares during the quarter. Condor Capital Management’s holdings in JPMorgan Chase & Co. were worth $4,725,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Harbor Asset Planning Inc. acquired a new position in JPMorgan Chase & Co. during the 2nd quarter worth $26,000. MJT & Associates Financial Advisory Group Inc. bought a new position in shares of JPMorgan Chase & Co. during the first quarter valued at approximately $28,000. University of Illinois Foundation acquired a new stake in JPMorgan Chase & Co. in the first quarter worth $30,000. Ryan Investment Management Inc. acquired a new stake in shares of JPMorgan Chase & Co. in the 2nd quarter worth about $37,000. Finally, Christopher J. Hasenberg Inc increased its stake 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 purchasing an additional 106 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 analysts have commented on JPM shares. Zacks Research downgraded shares of JPMorgan Chase & Co. from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 18th. Wells Fargo & Company increased their price objective on JPMorgan Chase & Co. from $345.00 to $350.00 and gave the company an “overweight” rating in a research report on Monday, November 3rd. Wall Street Zen upgraded JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. KGI Securities increased their price target on JPMorgan Chase & Co. from $300.00 to $315.00 and gave the company a “hold” rating in a research report on Wednesday, October 15th. Finally, Weiss Ratings reissued a “buy (b+)” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday. Fifteen equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, JPMorgan Chase & Co. currently has an average rating of “Hold” and a consensus price target of $326.38.

JPMorgan Chase & Co. Price Performance

Shares of JPM opened at $297.82 on Monday. The business’s 50-day moving average is $307.43 and its 200-day moving average is $291.79. 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 company has a market capitalization of $810.74 billion, a price-to-earnings ratio of 14.75, a P/E/G ratio of 1.84 and a beta of 1.14. JPMorgan Chase & Co. has a fifty-two week low of $202.16 and a fifty-two week high of $322.25.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly 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. The business had revenue of $47.12 billion during the quarter, compared to analysts’ expectations 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 last year, the company posted $4.37 earnings per share. Equities research analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Monday, October 6th were paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.0%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend was Monday, October 6th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 29.72%.

Insider Buying and Selling at JPMorgan Chase & Co.

In related news, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. 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 of the company’s stock, valued at approximately $24,492,753.58. This trade 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 accessible through the SEC website. Also, insider Robin Leopold sold 966 shares of the business’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $311.92, for a total value of $301,314.72. Following the completion of the transaction, the insider owned 58,479 shares in the company, valued at $18,240,769.68. This trade represents a 1.63% decrease in their position. The SEC filing for this sale provides additional information. 0.47% of the stock is currently owned by company insiders.

About JPMorgan Chase & Co.

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.