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Violich Capital Management Inc. lowered its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 5.4% in the 2nd quarter, Holdings Channel.com reports. The fund owned 19,175 shares of the financial services provider’s stock after selling 1,085 shares during the quarter. JPMorgan Chase & Co. comprises approximately 0.8% of Violich Capital Management Inc.’s investment portfolio, making the stock its 28th largest position. Violich Capital Management Inc.’s holdings in JPMorgan Chase & Co. were worth $5,559,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in JPM. Florida Financial Advisors LLC raised its position in JPMorgan Chase & Co. by 62.5% in the 1st quarter. Florida Financial Advisors LLC now owns 9,863 shares of the financial services provider’s stock worth $2,416,000 after buying an additional 3,792 shares during the last quarter. Crown Wealth Group LLC grew its stake in shares of JPMorgan Chase & Co. by 5.4% in the first quarter. Crown Wealth Group LLC now owns 4,320 shares of the financial services provider’s stock worth $1,060,000 after acquiring an additional 222 shares during the period. Mosaic Financial Group LLC grew its stake in shares of JPMorgan Chase & Co. by 0.8% in the first quarter. Mosaic Financial Group LLC now owns 9,296 shares of the financial services provider’s stock worth $2,280,000 after acquiring an additional 78 shares during the period. Morse Asset Management Inc grew its stake in shares of JPMorgan Chase & Co. by 19.5% in the first quarter. Morse Asset Management Inc now owns 2,569 shares of the financial services provider’s stock worth $630,000 after acquiring an additional 420 shares during the period. Finally, Hidden Cove Wealth Management LLC grew its stake in shares of JPMorgan Chase & Co. by 4.2% in the first quarter. Hidden Cove Wealth Management LLC now owns 2,758 shares of the financial services provider’s stock worth $677,000 after acquiring an additional 112 shares during the period. 71.55% of the stock is currently owned by hedge funds and other institutional investors.
JPMorgan Chase & Co. Trading Up 0.4%
NYSE:JPM opened at $305.29 on Wednesday. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.86 and a quick ratio of 0.88. The firm has a market capitalization of $839.48 billion, a price-to-earnings ratio of 15.12, a price-to-earnings-growth ratio of 1.83 and a beta of 1.13. JPMorgan Chase & Co. has a one year low of $202.16 and a one year high of $318.01. The business has a fifty day moving average price of $303.98 and a 200-day moving average price of $282.92.
JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last released its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.83 by $0.24. JPMorgan Chase & Co. had a return on equity of 17.18% and a net margin of 20.90%.The business had revenue of $46.43 billion during the quarter, compared to analyst estimates of $44.42 billion. During the same quarter in the previous year, the company posted $4.37 earnings per share. JPMorgan Chase & Co.’s revenue for the quarter was up 8.8% on a year-over-year basis. Sell-side analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current year.
JPMorgan Chase & Co. Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, October 6th will be issued a $1.50 dividend. The ex-dividend date of this dividend is Monday, October 6th. This represents a $6.00 annualized dividend and a yield of 2.0%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. JPMorgan Chase & Co.’s payout ratio is currently 29.72%.
Wall Street Analysts Forecast Growth
Several equities research analysts recently issued reports on JPM shares. HSBC restated a “reduce” rating and issued a $259.00 target price on shares of JPMorgan Chase & Co. in a report on Tuesday, July 8th. Loop Capital set a $310.00 price target on JPMorgan Chase & Co. in a report on Thursday, October 23rd. TD Cowen upped their price objective on JPMorgan Chase & Co. from $350.00 to $370.00 and gave the company a “buy” rating in a research report on Friday, October 3rd. Deutsche Bank Aktiengesellschaft upped their price objective on JPMorgan Chase & Co. from $300.00 to $320.00 and gave the company a “hold” rating in a research report on Tuesday, September 30th. Finally, UBS Group upped their price objective on JPMorgan Chase & Co. from $339.00 to $350.00 and gave the company a “buy” rating in a research report on Tuesday, October 7th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $322.27.
View Our Latest Research Report on JPM
Insider Buying and Selling
In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the sale, the director owned 82,207 shares in the company, valued at approximately $24,492,753.58. This trade represents a 10.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.47% of the company’s stock.
JPMorgan Chase & Co. Company Profile
JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.
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