Kornitzer Capital Management Inc. KS Sells 40,108 Shares of JPMorgan Chase & Co. (JPM)

Kornitzer Capital Management Inc. KS trimmed its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 65.1% during the 2nd quarter, HoldingsChannel reports. The fund owned 21,549 shares of the financial services provider’s stock after selling 40,108 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in JPMorgan Chase & Co. were worth $2,245,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Elite Wealth Management Inc. raised its holdings in JPMorgan Chase & Co. by 4.1% during the 1st quarter. Elite Wealth Management Inc. now owns 17,891 shares of the financial services provider’s stock valued at $1,967,000 after buying an additional 701 shares during the period. Nuveen Asset Management LLC raised its holdings in JPMorgan Chase & Co. by 2.7% during the 1st quarter. Nuveen Asset Management LLC now owns 1,124,172 shares of the financial services provider’s stock valued at $123,625,000 after buying an additional 29,540 shares during the period. Syntal Capital Partners LLC raised its holdings in JPMorgan Chase & Co. by 11.3% during the 1st quarter. Syntal Capital Partners LLC now owns 9,963 shares of the financial services provider’s stock valued at $1,095,000 after buying an additional 1,013 shares during the period. NN Investment Partners Holdings N.V. raised its holdings in JPMorgan Chase & Co. by 5.5% during the 2nd quarter. NN Investment Partners Holdings N.V. now owns 140,044 shares of the financial services provider’s stock valued at $14,593,000 after buying an additional 7,269 shares during the period. Finally, First Citizens Bank & Trust Co. raised its holdings in JPMorgan Chase & Co. by 0.7% during the 2nd quarter. First Citizens Bank & Trust Co. now owns 136,527 shares of the financial services provider’s stock valued at $14,227,000 after buying an additional 934 shares during the period. 70.43% of the stock is currently owned by institutional investors and hedge funds.

In other news, Director Mellody L. Hobson purchased 1,150 shares of the company’s stock in a transaction dated Friday, October 19th. The shares were acquired at an average price of $108.94 per share, with a total value of $125,281.00. Following the transaction, the director now owns 2,632 shares of the company’s stock, valued at $286,730.08. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.73% of the stock is currently owned by corporate insiders.

JPM stock opened at $109.09 on Tuesday. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.01 and a current ratio of 1.01. JPMorgan Chase & Co. has a twelve month low of $95.95 and a twelve month high of $119.33. The firm has a market capitalization of $371.96 billion, a price-to-earnings ratio of 15.88, a price-to-earnings-growth ratio of 1.76 and a beta of 1.13.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $2.24 by $0.10. JPMorgan Chase & Co. had a return on equity of 13.90% and a net margin of 23.39%. The business had revenue of $27.26 billion for the quarter, compared to the consensus estimate of $27.20 billion. During the same quarter in the prior year, the company earned $1.76 EPS. Sell-side analysts predict that JPMorgan Chase & Co. will post 9.26 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 31st. Stockholders of record on Friday, October 5th were given a dividend of $0.80 per share. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $0.56. The ex-dividend date was Thursday, October 4th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.93%. JPMorgan Chase & Co.’s dividend payout ratio is presently 46.58%.

Several analysts recently weighed in on JPM shares. Bank of America increased their price target on JPMorgan Chase & Co. from $126.00 to $132.00 and gave the company a “buy” rating in a report on Monday, September 17th. Zacks Investment Research upgraded JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and set a $127.00 price target on the stock in a report on Friday, September 14th. UBS Group upgraded JPMorgan Chase & Co. from a “hold” rating to a “buy” rating in a research note on Thursday, July 19th. Vining Sparks reiterated a “buy” rating and issued a $125.00 target price on shares of JPMorgan Chase & Co. in a research note on Friday, October 12th. Finally, Goldman Sachs Group set a $130.00 target price on JPMorgan Chase & Co. and gave the stock a “neutral” rating in a research note on Friday, October 12th. Eight equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $123.44.

ILLEGAL ACTIVITY NOTICE: This piece was originally posted by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this piece on another publication, it was copied illegally and republished in violation of US & international copyright and trademark laws. The legal version of this piece can be read at https://www.dispatchtribunal.com/2018/11/06/kornitzer-capital-management-inc-ks-sells-40108-shares-of-jpmorgan-chase-co-jpm.html.

JPMorgan Chase & Co. Company 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: Understanding Analyst Ratings

Want to see what other hedge funds are holding JPM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for JPMorgan Chase & Co. (NYSE:JPM).

Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

Receive News & Ratings for JPMorgan Chase & Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for JPMorgan Chase & Co. and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply