MainStreet Investment Advisors LLC reduced its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 3.3% in the 2nd quarter, HoldingsChannel reports. The firm owned 106,485 shares of the financial services provider’s stock after selling 3,592 shares during the quarter. JPMorgan Chase & Co. makes up 1.7% of MainStreet Investment Advisors LLC’s portfolio, making the stock its 15th largest position. MainStreet Investment Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $15,487,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bank Julius Baer & Co. Ltd Zurich lifted its stake in shares of JPMorgan Chase & Co. by 97,681.8% during the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 2,056,747,063 shares of the financial services provider’s stock worth $299,133,293,000 after purchasing an additional 2,054,643,659 shares during the period. Moneta Group Investment Advisors LLC lifted its stake in shares of JPMorgan Chase & Co. by 105,652.2% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 98,000,567 shares of the financial services provider’s stock worth $13,141,876,000 after purchasing an additional 97,907,897 shares during the period. Norges Bank purchased a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth $3,894,646,000. Price T Rowe Associates Inc. MD lifted its stake in shares of JPMorgan Chase & Co. by 71.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 30,484,094 shares of the financial services provider’s stock worth $4,087,917,000 after purchasing an additional 12,654,947 shares during the period. Finally, Morgan Stanley lifted its stake in shares of JPMorgan Chase & Co. by 15.9% during the 4th quarter. Morgan Stanley now owns 59,049,256 shares of the financial services provider’s stock worth $7,918,506,000 after purchasing an additional 8,088,433 shares during the period. 68.94% of the stock is owned by hedge funds and other institutional investors.
JPMorgan Chase & Co. Stock Down 0.2 %
Shares of NYSE JPM opened at $144.77 on Tuesday. JPMorgan Chase & Co. has a 12-month low of $101.28 and a 12-month high of $159.38. The company has a market cap of $420.71 billion, a P/E ratio of 9.32, a P/E/G ratio of 1.85 and a beta of 1.10. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.28. The stock has a fifty day moving average price of $148.40 and a 200 day moving average price of $143.00.
JPMorgan Chase & Co. Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, October 6th will be paid a dividend of $1.05 per share. The ex-dividend date of this dividend is Thursday, October 5th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.00. This represents a $4.20 annualized dividend and a dividend yield of 2.90%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 27.03%.
Analyst Upgrades and Downgrades
A number of research analysts have weighed in on the company. HSBC assumed coverage on JPMorgan Chase & Co. in a research note on Thursday, September 7th. They set a “hold” rating and a $159.00 price target on the stock. Evercore ISI increased their price target on JPMorgan Chase & Co. from $158.00 to $167.00 in a research note on Thursday, October 5th. Credit Suisse Group increased their price target on JPMorgan Chase & Co. from $160.00 to $170.00 in a research note on Monday, July 17th. Wells Fargo & Company upped their price objective on JPMorgan Chase & Co. from $174.00 to $180.00 in a report on Monday, July 17th. Finally, Wolfe Research upgraded JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $170.00 price objective for the company in a report on Friday, July 7th. Eight equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $168.26.
Read Our Latest Analysis on JPMorgan Chase & Co.
Insider Activity
In other news, General Counsel Stacey Friedman sold 4,310 shares of the firm’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $157.16, for a total transaction of $677,359.60. Following the completion of the sale, the general counsel now directly owns 57,735 shares in the company, valued at $9,073,632.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.79% of the company’s stock.
JPMorgan Chase & Co. Company 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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