New Potomac Partners LLC trimmed its position in JPMorgan Chase & Co. (NYSE:JPM) by 6.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,596 shares of the financial services provider’s stock after selling 1,293 shares during the quarter. JPMorgan Chase & Co. comprises approximately 1.7% of New Potomac Partners LLC’s holdings, making the stock its 22nd largest position. New Potomac Partners LLC’s holdings in JPMorgan Chase & Co. were worth $2,559,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of JPM. Adirondack Retirement Specialists Inc. raised its stake in JPMorgan Chase & Co. by 510.8% during the 1st quarter. Adirondack Retirement Specialists Inc. now owns 226 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 189 shares during the last quarter. Nordwand Advisors LLC acquired a new position in JPMorgan Chase & Co. during the 1st quarter valued at $30,000. Boulder Wealth Advisors LLC acquired a new position in JPMorgan Chase & Co. during the 4th quarter valued at $43,000. Sageworth Trust Co raised its stake in JPMorgan Chase & Co. by 266.7% during the 1st quarter. Sageworth Trust Co now owns 407 shares of the financial services provider’s stock valued at $53,000 after purchasing an additional 296 shares during the last quarter. Finally, Freedom Wealth Alliance LLC acquired a new position in JPMorgan Chase & Co. during the 4th quarter valued at $60,000. 68.94% of the stock is currently owned by institutional investors and hedge funds.
JPMorgan Chase & Co. Stock Up 1.5 %
Shares of NYSE:JPM opened at $145.10 on Monday. JPMorgan Chase & Co. has a 12 month low of $101.28 and a 12 month high of $159.38. The company’s 50-day moving average price is $148.66 and its two-hundred day moving average price is $142.88. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.28. The firm has a market cap of $421.67 billion, a P/E ratio of 9.34, a P/E/G ratio of 1.85 and a beta of 1.10.
JPMorgan Chase & Co. Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, October 6th will be given a dividend of $1.05 per share. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $4.20 annualized dividend and a dividend yield of 2.89%. JPMorgan Chase & Co.’s payout ratio is currently 27.03%.
Wall Street Analyst Weigh In
Several equities analysts recently commented on JPM shares. Jefferies Financial Group upgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and upped their target price for the company from $149.00 to $165.00 in a research note on Tuesday, July 11th. Credit Suisse Group boosted their price target on shares of JPMorgan Chase & Co. from $160.00 to $170.00 in a report on Monday, July 17th. StockNews.com assumed coverage on shares of JPMorgan Chase & Co. in a report on Thursday. They issued a “hold” rating on the stock. HSBC assumed coverage on shares of JPMorgan Chase & Co. in a report on Thursday, September 7th. They issued a “hold” rating and a $159.00 price target on the stock. Finally, Atlantic Securities boosted their price target on shares of JPMorgan Chase & Co. from $150.00 to $160.00 and gave the company a “neutral” rating in a report on Tuesday, August 1st. Eight analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. currently has a consensus rating of “Moderate Buy” and a consensus price target of $168.26.
View Our Latest Stock Analysis on JPMorgan Chase & Co.
Insider Buying and Selling
In related news, General Counsel Stacey Friedman sold 4,310 shares of the business’s stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $144.86, for a total transaction of $624,346.60. Following the completion of the sale, the general counsel now directly owns 53,425 shares of the company’s stock, valued at $7,739,145.50. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.79% of the stock is currently owned by insiders.
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, investment and lending products, cash management, and payments and services to consumers and small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services.
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