JPMorgan Chase & Co. $JPM is Ameriprise Financial Inc.’s 8th Largest Position

Ameriprise Financial Inc. reduced its position in JPMorgan Chase & Co. (NYSE:JPM) by 2.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,907,008 shares of the financial services provider’s stock after selling 511,997 shares during the period. JPMorgan Chase & Co. accounts for about 1.6% of Ameriprise Financial Inc.’s investment portfolio, making the stock its 8th biggest position. Ameriprise Financial Inc. owned about 0.80% of JPMorgan Chase & Co. worth $6,354,802,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. JFS Wealth Advisors LLC raised its stake in JPMorgan Chase & Co. by 0.4% during the second quarter. JFS Wealth Advisors LLC now owns 7,897 shares of the financial services provider’s stock valued at $2,290,000 after purchasing an additional 35 shares in the last quarter. Cottonwood Capital Advisors LLC raised its position in shares of JPMorgan Chase & Co. by 0.9% during the 2nd quarter. Cottonwood Capital Advisors LLC now owns 3,837 shares of the financial services provider’s stock valued at $1,112,000 after buying an additional 35 shares in the last quarter. Coign Capital Advisors LLC raised its position in shares of JPMorgan Chase & Co. by 1.2% during the 2nd quarter. Coign Capital Advisors LLC now owns 2,854 shares of the financial services provider’s stock valued at $827,000 after buying an additional 35 shares in the last quarter. Rialto Wealth Management LLC grew its position in JPMorgan Chase & Co. by 3.9% in the second quarter. Rialto Wealth Management LLC now owns 929 shares of the financial services provider’s stock worth $269,000 after acquiring an additional 35 shares in the last quarter. Finally, Breed s Hill Capital LLC increased its stake in JPMorgan Chase & Co. by 0.8% during the second quarter. Breed s Hill Capital LLC now owns 4,642 shares of the financial services provider’s stock worth $1,346,000 after acquiring an additional 35 shares during the last quarter. Institutional investors own 71.55% of the company’s stock.

Insiders Place Their Bets

In related news, insider Robin Leopold sold 966 shares of the company’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 sale, the insider directly owned 58,479 shares of the company’s stock, valued at $18,240,769.68. This represents a 1.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.47% of the stock is currently owned by company insiders.

JPMorgan Chase & Co. Price Performance

Shares of JPM stock opened at $318.74 on Friday. The company has a market capitalization of $867.69 billion, a P/E ratio of 15.79, a P/E/G ratio of 1.64 and a beta of 1.08. The company’s 50-day simple moving average is $306.77 and its two-hundred day simple moving average is $296.41. JPMorgan Chase & Co. has a one year low of $202.16 and a one year high of $322.25. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.86 and a quick ratio of 0.86.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.83 by $0.24. The firm had revenue of $47.12 billion during the quarter, compared to analyst estimates of $44.42 billion. JPMorgan Chase & Co. had a return on equity of 17.18% and a net margin of 20.90%.JPMorgan Chase & Co.’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.37 earnings per share. As a group, equities analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, January 31st. Investors of record on Tuesday, January 6th will be issued a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Tuesday, January 6th. JPMorgan Chase & Co.’s payout ratio is presently 29.72%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on JPM shares. The Goldman Sachs Group lowered their price objective on JPMorgan Chase & Co. from $355.00 to $354.00 and set a “buy” rating for the company in a research note on Friday, December 5th. Deutsche Bank Aktiengesellschaft raised their price target on JPMorgan Chase & Co. from $300.00 to $320.00 and gave the stock a “hold” rating in a research report on Tuesday, September 30th. Evercore ISI increased their target price on shares of JPMorgan Chase & Co. from $309.00 to $330.00 and gave the company an “outperform” rating in a research note on Tuesday, September 30th. TD Cowen raised their target price on shares of JPMorgan Chase & Co. from $350.00 to $370.00 and gave the stock a “buy” rating in a report on Friday, October 3rd. Finally, Citigroup lifted their price target on shares of JPMorgan Chase & Co. from $275.00 to $325.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 24th. Fifteen research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $325.48.

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.