MUFG Americas Holdings Corp Reduces Stake in JPMorgan Chase & Co. (NYSE:JPM)

MUFG Americas Holdings Corp cut its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.2% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 634,310 shares of the financial services provider’s stock after selling 7,421 shares during the quarter. JPMorgan Chase & Co. comprises 2.1% of MUFG Americas Holdings Corp’s investment portfolio, making the stock its 6th biggest holding. MUFG Americas Holdings Corp’s holdings in JPMorgan Chase & Co. were worth $74,652,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Nuveen Asset Management LLC raised its stake in JPMorgan Chase & Co. by 2,432.9% during the second quarter. Nuveen Asset Management LLC now owns 23,689,599 shares of the financial services provider’s stock valued at $2,648,497,000 after buying an additional 22,754,332 shares during the last quarter. Invesco Ltd. raised its stake in JPMorgan Chase & Co. by 39.8% during the second quarter. Invesco Ltd. now owns 23,689,706 shares of the financial services provider’s stock valued at $2,648,509,000 after buying an additional 6,745,215 shares during the last quarter. Thoroughbred Financial Services LLC raised its stake in JPMorgan Chase & Co. by 11,601.0% during the second quarter. Thoroughbred Financial Services LLC now owns 4,973,970 shares of the financial services provider’s stock valued at $497,397,000 after buying an additional 4,931,461 shares during the last quarter. Renaissance Technologies LLC purchased a new position in JPMorgan Chase & Co. during the second quarter valued at $331,575,000. Finally, Amundi Pioneer Asset Management Inc. raised its stake in JPMorgan Chase & Co. by 43.3% during the second quarter. Amundi Pioneer Asset Management Inc. now owns 7,563,083 shares of the financial services provider’s stock valued at $845,552,000 after buying an additional 2,283,575 shares during the last quarter. Institutional investors own 73.24% of the company’s stock.

A number of brokerages have issued reports on JPM. UBS Group lifted their price objective on JPMorgan Chase & Co. from $131.00 to $132.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Credit Suisse Group set a $135.00 price objective on JPMorgan Chase & Co. and gave the company a “buy” rating in a research note on Friday, October 11th. BMO Capital Markets lifted their price objective on JPMorgan Chase & Co. to $126.00 in a research note on Wednesday, October 16th. DZ Bank reiterated a “hold” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, August 21st. Finally, Morgan Stanley upgraded JPMorgan Chase & Co. to an “overweight” rating in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $123.02.

Shares of JPM stock traded up $0.72 during mid-day trading on Friday, hitting $129.32. The company’s stock had a trading volume of 4,581,388 shares, compared to its average volume of 10,570,214. JPMorgan Chase & Co. has a 52-week low of $91.11 and a 52-week high of $131.29. The business has a 50-day moving average price of $121.84 and a 200 day moving average price of $114.41. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.93 and a current ratio of 0.93. The stock has a market cap of $405.11 billion, a price-to-earnings ratio of 14.37, a PEG ratio of 1.81 and a beta of 1.21.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $2.68 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.45 by $0.23. JPMorgan Chase & Co. had a return on equity of 14.63% and a net margin of 24.70%. The firm had revenue of $29.34 billion during the quarter, compared to analysts’ expectations of $28.36 billion. During the same quarter in the previous year, the business earned $2.34 earnings per share. The company’s revenue was up 7.6% on a year-over-year basis. Equities research analysts predict that JPMorgan Chase & Co. will post 10.17 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 4th were paid a $0.90 dividend. The ex-dividend date of this dividend was Thursday, October 3rd. This represents a $3.60 annualized dividend and a dividend yield of 2.78%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $0.80. JPMorgan Chase & Co.’s payout ratio is currently 40.00%.

In other news, insider Nicole Giles sold 863 shares of the business’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $126.73, for a total value of $109,367.99. Following the completion of the transaction, the insider now owns 8,949 shares in the company, valued at $1,134,106.77. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Daniel E. Pinto sold 64,198 shares of the business’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $130.91, for a total value of $8,404,160.18. Following the completion of the transaction, the chief executive officer now owns 451,481 shares of the company’s stock, valued at approximately $59,103,377.71. The disclosure for this sale can be found here. Insiders sold 152,944 shares of company stock valued at $19,088,970 in the last 90 days. Company insiders own 0.76% of the company’s stock.

JPMorgan Chase & Co. Profile

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit card, payment processing, auto loan, and leasing services.

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

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