Winthrop Partners WNY LLC lowered its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 20.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 41,838 shares of the financial services provider’s stock after selling 11,072 shares during the period. JPMorgan Chase & Co. comprises 3.6% of Winthrop Partners WNY LLC’s holdings, making the stock its 2nd largest holding. Winthrop Partners WNY LLC’s holdings in JPMorgan Chase & Co. were worth $4,360,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in JPM. Financial Gravity Wealth Inc. bought a new position in JPMorgan Chase & Co. during the first quarter worth $150,000. Stelac Advisory Services LLC bought a new position in JPMorgan Chase & Co. during the first quarter worth $162,000. Private Ocean LLC raised its stake in JPMorgan Chase & Co. by 94.7% during the first quarter. Private Ocean LLC now owns 1,694 shares of the financial services provider’s stock worth $186,000 after buying an additional 824 shares during the last quarter. Avenir Corp bought a new position in JPMorgan Chase & Co. during the first quarter worth $201,000. Finally, Reilly Herbert Faulkner III bought a new position in JPMorgan Chase & Co. during the first quarter worth $202,000. 70.62% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages recently weighed in on JPM. Keefe, Bruyette & Woods reissued a “$111.53” rating and set a $127.00 target price on shares of JPMorgan Chase & Co. in a research note on Wednesday, July 18th. BMO Capital Markets lifted their target price on shares of JPMorgan Chase & Co. from $110.00 to $118.00 and gave the stock a “market perform” rating in a research note on Monday, July 16th. Royal Bank of Canada reissued a “buy” rating and set a $120.00 target price on shares of JPMorgan Chase & Co. in a research note on Monday, July 16th. Goldman Sachs Group set a $128.00 target price on shares of JPMorgan Chase & Co. and gave the stock a “neutral” rating in a research note on Monday, July 23rd. Finally, Zacks Investment Research downgraded shares of JPMorgan Chase & Co. from a “buy” rating to a “hold” rating in a research note on Monday, September 17th. Eight investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $123.44.
In related news, Director Mellody L. Hobson purchased 1,150 shares of the firm’s stock in a transaction on Friday, October 19th. The stock was purchased at an average cost of $108.94 per share, with a total value of $125,281.00. Following the completion of the purchase, the director now owns 2,632 shares in the company, valued at approximately $286,730.08. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Gordon Smith sold 30,725 shares of JPMorgan Chase & Co. stock in a transaction on Monday, July 23rd. The shares were sold at an average price of $114.01, for a total transaction of $3,502,957.25. The disclosure for this sale can be found here. Insiders own 0.73% of the company’s stock.
JPM opened at $107.91 on Friday. JPMorgan Chase & Co. has a 1-year low of $95.95 and a 1-year high of $119.33. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.17. The firm has a market capitalization of $370.96 billion, a price-to-earnings ratio of 15.71, a P/E/G ratio of 1.75 and a beta of 1.17.
JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Friday, October 12th. The financial services provider reported $2.34 earnings per share for the quarter, beating the consensus estimate of $2.24 by $0.10. JPMorgan Chase & Co. had a net margin of 23.39% and a return on equity of 13.90%. The firm had revenue of $27.26 billion during the quarter, compared to the consensus estimate of $27.20 billion. During the same period in the previous year, the firm posted $1.76 earnings per share. On average, equities analysts predict that JPMorgan Chase & Co. will post 9.26 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 31st. Shareholders of record on Friday, October 5th will be paid a $0.80 dividend. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $0.56. This represents a $3.20 annualized dividend and a yield of 2.97%. The ex-dividend date is Thursday, October 4th. JPMorgan Chase & Co.’s payout ratio is 46.58%.
JPMorgan Chase & Co. Profile
JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking, and Asset & Wealth Management. The Consumer & Community Banking segment offers deposit and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; residential mortgages and home equity loans; and credit cards, payment processing services, auto loans and leases.
Further Reading: Book Value Per Share – BVPS
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