Tufton Capital Management reduced its stake in JPMorgan Chase & Co. (NYSE:JPM) by 2.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 87,032 shares of the financial services provider’s stock after selling 2,642 shares during the quarter. JPMorgan Chase & Co. accounts for 2.7% of Tufton Capital Management’s investment portfolio, making the stock its 5th biggest holding. Tufton Capital Management’s holdings in JPMorgan Chase & Co. were worth $12,658,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Adirondack Retirement Specialists Inc. boosted its stake in shares of JPMorgan Chase & Co. by 510.8% in the first quarter. Adirondack Retirement Specialists Inc. now owns 226 shares of the financial services provider’s stock valued at $29,000 after buying an additional 189 shares in the last quarter. Nordwand Advisors LLC purchased a new stake in shares of JPMorgan Chase & Co. in the first quarter valued at approximately $30,000. Sageworth Trust Co boosted its stake in shares of JPMorgan Chase & Co. by 266.7% in the first quarter. Sageworth Trust Co now owns 407 shares of the financial services provider’s stock valued at $53,000 after buying an additional 296 shares in the last quarter. Robbins Farley boosted its stake in shares of JPMorgan Chase & Co. by 54.2% in the first quarter. Robbins Farley now owns 475 shares of the financial services provider’s stock valued at $62,000 after buying an additional 167 shares in the last quarter. Finally, Miller Wealth Advisors LLC purchased a new stake in shares of JPMorgan Chase & Co. in the second quarter valued at approximately $67,000. 68.94% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
JPM has been the topic of a number of analyst reports. Societe Generale downgraded JPMorgan Chase & Co. from a “buy” rating to a “hold” rating in a research note on Monday, July 10th. BMO Capital Markets lifted their price target on JPMorgan Chase & Co. from $167.00 to $171.00 and gave the company a “market perform” rating in a research note on Monday, October 16th. Morgan Stanley boosted their target price on JPMorgan Chase & Co. from $187.00 to $191.00 and gave the stock an “overweight” rating in a research report on Monday, October 16th. StockNews.com began coverage on JPMorgan Chase & Co. in a research report on Thursday, October 5th. They set a “hold” rating on the stock. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $158.00 target price on shares of JPMorgan Chase & Co. in a research report on Friday, September 8th. Eight research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, JPMorgan Chase & Co. has an average rating of “Moderate Buy” and an average target price of $169.79.
JPMorgan Chase & Co. Stock Performance
JPMorgan Chase & Co. stock opened at $142.95 on Monday. The firm has a market capitalization of $415.42 billion, a P/E ratio of 8.53, a PEG ratio of 1.75 and a beta of 1.10. The stock has a fifty day moving average price of $146.71 and a 200 day moving average price of $144.12. JPMorgan Chase & Co. has a 52 week low of $116.33 and a 52 week high of $159.38. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.25.
JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last released its earnings results on Friday, October 13th. The financial services provider reported $4.33 EPS for the quarter, beating the consensus estimate of $3.95 by $0.38. The firm had revenue of $40.69 billion during the quarter, compared to analyst estimates of $39.63 billion. JPMorgan Chase & Co. had a return on equity of 17.97% and a net margin of 22.79%. The business’s quarterly revenue was up 24.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.12 earnings per share. Equities research analysts anticipate that JPMorgan Chase & Co. will post 16.31 earnings per share for the current year.
JPMorgan Chase & Co. Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders 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 a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.00. This represents a $4.20 annualized dividend and a yield of 2.94%. JPMorgan Chase & Co.’s dividend payout ratio is currently 25.07%.
Insiders Place Their Bets
In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 4,310 shares of the company’s stock in a transaction dated Wednesday, September 6th. The stock was 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 in the company, valued at $7,739,145.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.79% of the stock is currently owned by insiders.
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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