Mcrae Capital Management Inc. lessened its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 45,210 shares of the financial services provider’s stock after selling 227 shares during the period. JPMorgan Chase & Co. comprises 1.9% of Mcrae Capital Management Inc.’s holdings, making the stock its 20th largest holding. Mcrae Capital Management Inc.’s holdings in JPMorgan Chase & Co. were worth $6,575,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently made changes to their positions in JPM. Keystone Wealth Services LLC increased its position in shares of JPMorgan Chase & Co. by 1.6% during the second quarter. Keystone Wealth Services LLC now owns 4,129 shares of the financial services provider’s stock worth $601,000 after buying an additional 67 shares during the period. Cornell Pochily Investment Advisors Inc. increased its position in shares of JPMorgan Chase & Co. by 0.5% during the second quarter. Cornell Pochily Investment Advisors Inc. now owns 15,800 shares of the financial services provider’s stock worth $2,298,000 after buying an additional 72 shares during the period. Axim Planning & Wealth increased its position in shares of JPMorgan Chase & Co. by 1.6% during the second quarter. Axim Planning & Wealth now owns 4,720 shares of the financial services provider’s stock worth $686,000 after buying an additional 73 shares during the period. Shikiar Asset Management Inc. increased its position in shares of JPMorgan Chase & Co. by 3.7% during the second quarter. Shikiar Asset Management Inc. now owns 2,063 shares of the financial services provider’s stock worth $300,000 after buying an additional 73 shares during the period. Finally, Prostatis Group LLC increased its position in shares of JPMorgan Chase & Co. by 0.9% during the first quarter. Prostatis Group LLC now owns 8,046 shares of the financial services provider’s stock worth $1,059,000 after buying an additional 74 shares during the period. Institutional investors and hedge funds own 68.94% of the company’s stock.
Insiders Place Their Bets
In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 4,310 shares of JPMorgan Chase & Co. stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $144.86, for a total value of $624,346.60. Following the sale, the general counsel now owns 53,425 shares of the company’s stock, valued at $7,739,145.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.79% of the company’s stock.
JPMorgan Chase & Co. Stock Down 0.2 %
JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last announced its quarterly earnings data on Friday, July 14th. The financial services provider reported $4.37 EPS for the quarter, topping the consensus estimate of $3.62 by $0.75. The business had revenue of $42.40 billion for the quarter, compared to analyst estimates of $38.66 billion. JPMorgan Chase & Co. had a net margin of 23.45% and a return on equity of 17.29%. The company’s revenue for the quarter was up 34.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.76 earnings per share. Research analysts expect that JPMorgan Chase & Co. will post 15.68 earnings per share for the current fiscal year.
JPMorgan Chase & Co. Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, October 6th will be given a $1.05 dividend. This is a positive change 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 yield of 2.90%. JPMorgan Chase & Co.’s payout ratio is currently 27.03%.
Analyst Ratings Changes
A number of equities research analysts have commented on JPM shares. Wells Fargo & Company raised their price target on shares of JPMorgan Chase & Co. from $174.00 to $180.00 in a report on Monday, July 17th. Citigroup cut shares of JPMorgan Chase & Co. from a “buy” rating to a “neutral” rating and set a $160.00 price target for the company. in a report on Wednesday, July 12th. Atlantic Securities raised their price target on shares of JPMorgan Chase & Co. from $150.00 to $160.00 and gave the stock a “neutral” rating in a report on Tuesday, August 1st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $158.00 price objective on shares of JPMorgan Chase & Co. in a research note on Friday, September 8th. Finally, HSBC began coverage on shares of JPMorgan Chase & Co. in a research note on Thursday, September 7th. They issued a “hold” rating and a $159.00 price objective on the stock. Eight research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, JPMorgan Chase & Co. presently has a consensus rating of “Moderate Buy” and a consensus target price of $168.26.
Get Our Latest Analysis on JPM
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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