Cullen Investment Group LTD. Has $31.36 Million Position in JPMorgan Chase & Co. $JPM

Cullen Investment Group LTD. lowered its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 2.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 101,166 shares of the financial services provider’s stock after selling 2,304 shares during the quarter. JPMorgan Chase & Co. accounts for about 4.1% of Cullen Investment Group LTD.’s investment portfolio, making the stock its 5th biggest holding. Cullen Investment Group LTD.’s holdings in JPMorgan Chase & Co. were worth $31,363,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in JPM. Kingstone Capital Partners Texas LLC lifted its holdings 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 buying an additional 72,885,260 shares during the period. Norges Bank bought a new stake in shares of JPMorgan Chase & Co. during the 2nd quarter valued at $10,295,209,000. Laurel Wealth Advisors LLC lifted its position in shares of JPMorgan Chase & Co. by 28,813.7% in the second quarter. Laurel Wealth Advisors LLC now owns 16,785,584 shares of the financial services provider’s stock valued at $4,866,309,000 after acquiring an additional 16,727,530 shares in the last quarter. Viking Global Investors LP grew its holdings in JPMorgan Chase & Co. by 86.1% during the 2nd quarter. Viking Global Investors LP now owns 4,042,034 shares of the financial services provider’s stock valued at $1,171,826,000 after buying an additional 1,870,386 shares in the last quarter. Finally, Montrusco Bolton Investments Inc. purchased a new position in JPMorgan Chase & Co. during the second quarter valued at $485,802,000. Institutional investors own 71.55% of the company’s stock.

Insider Activity

In other news, insider Robin Leopold sold 966 shares of the stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $311.92, for a total transaction of $301,314.72. Following the sale, the insider owned 58,479 shares of the company’s stock, valued at approximately $18,240,769.68. This represents a 1.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.47% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock opened at $312.96 on Friday. The business’s 50 day moving average is $307.51 and its two-hundred day moving average is $297.84. JPMorgan Chase & Co. has a 12-month low of $202.16 and a 12-month high of $322.88. The company has a market capitalization of $851.97 billion, a P/E ratio of 15.50, a P/E/G ratio of 1.63 and a beta of 1.08. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.26.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.83 by $0.24. The firm had revenue of $47.12 billion for 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%.The business’s revenue was up 8.8% on a year-over-year basis. During the same period in the previous year, the company posted $4.37 earnings per share. Analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

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

Wall Street Analyst Weigh In

JPM has been the subject of a number of recent research reports. TD Cowen lifted their price objective on shares of JPMorgan Chase & Co. from $370.00 to $375.00 and gave the stock a “buy” rating in a research note on Monday. Citigroup lifted their target price on JPMorgan Chase & Co. from $275.00 to $325.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 24th. Zacks Research lowered JPMorgan Chase & Co. from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 18th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of JPMorgan Chase & Co. from $300.00 to $320.00 and gave the company a “hold” rating in a report on Tuesday, September 30th. Finally, Loop Capital set a $310.00 price objective on JPMorgan Chase & Co. in a research report on Thursday, October 23rd. Fifteen research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $328.00.

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.