Amundi Sells 345,982 Shares of JPMorgan Chase & Co. $JPM

Amundi lowered its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 6.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,420,044 shares of the financial services provider’s stock after selling 345,982 shares during the period. JPMorgan Chase & Co. comprises about 0.5% of Amundi’s holdings, making the stock its 28th largest holding. Amundi owned approximately 0.20% of JPMorgan Chase & Co. worth $1,582,653,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Kingstone Capital Partners Texas LLC boosted its stake in shares of JPMorgan Chase & Co. by 609,867.5% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 72,897,211 shares of the financial services provider’s stock valued at $21,133,630,000 after purchasing an additional 72,885,260 shares in the last quarter. Geode Capital Management LLC raised its position in shares of JPMorgan Chase & Co. by 0.5% in the 2nd quarter. Geode Capital Management LLC now owns 61,129,271 shares of the financial services provider’s stock worth $17,646,506,000 after purchasing an additional 300,160 shares during the last quarter. Norges Bank bought a new position in shares of JPMorgan Chase & Co. in the second quarter worth approximately $10,295,209,000. Goldman Sachs Group Inc. boosted its stake in JPMorgan Chase & Co. by 2.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 20,548,182 shares of the financial services provider’s stock valued at $5,040,469,000 after purchasing an additional 548,853 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in JPMorgan Chase & Co. by 5.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 18,441,044 shares of the financial services provider’s stock worth $4,523,588,000 after buying an additional 890,553 shares in the last quarter. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on JPM shares. TD Cowen increased their target price on JPMorgan Chase & Co. from $350.00 to $370.00 and gave the company a “buy” rating in a report on Friday, October 3rd. Daiwa Capital Markets increased their price objective on shares of JPMorgan Chase & Co. from $330.00 to $332.00 and gave the company an “outperform” rating in a report on Wednesday, October 8th. Wolfe Research upped their price target on shares of JPMorgan Chase & Co. from $342.00 to $346.00 and gave the company an “outperform” rating in a research note on Thursday, October 16th. Evercore ISI raised their target price on shares of JPMorgan Chase & Co. from $309.00 to $330.00 and gave the stock an “outperform” rating in a report on Tuesday, September 30th. Finally, Dbs Bank raised JPMorgan Chase & Co. to a “hold” rating in a research note on Tuesday, October 21st. Fifteen analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $325.81.

JPMorgan Chase & Co. Price Performance

Shares of NYSE JPM opened at $315.20 on Monday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.86 and a current ratio of 0.86. The business has a 50-day simple moving average of $306.73 and a two-hundred day simple moving average of $295.09. JPMorgan Chase & Co. has a fifty-two week low of $202.16 and a fifty-two week high of $322.25. The company has a market cap of $858.06 billion, a PE ratio of 15.61, a P/E/G ratio of 1.63 and a beta of 1.08.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $47.12 billion during the quarter, compared to analyst estimates of $44.42 billion. During the same quarter last year, the business posted $4.37 EPS. The company’s revenue was up 8.8% on a year-over-year basis. As a group, equities analysts expect that JPMorgan Chase & Co. will post 18.1 EPS 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 of this dividend was Monday, October 6th. This represents a $6.00 annualized dividend 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 is currently 29.72%.

Insiders Place Their Bets

In related news, insider Robin Leopold sold 966 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $311.92, for a total transaction of $301,314.72. Following the transaction, the insider owned 58,479 shares in the company, valued at approximately $18,240,769.68. This trade represents a 1.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 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.