Dumont & Blake Investment Advisors LLC decreased its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 11.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,886 shares of the financial services provider’s stock after selling 3,045 shares during the quarter. JPMorgan Chase & Co. makes up 1.0% of Dumont & Blake Investment Advisors LLC’s investment portfolio, making the stock its 21st biggest holding. Dumont & Blake Investment Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $2,489,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of JPM. Financial Gravity Wealth Inc. acquired a new position in JPMorgan Chase & Co. in the first quarter valued at $150,000. Stelac Advisory Services LLC acquired a new position in JPMorgan Chase & Co. in the first quarter valued at $162,000. Private Ocean LLC lifted its holdings in JPMorgan Chase & Co. by 94.7% in the first quarter. Private Ocean LLC now owns 1,694 shares of the financial services provider’s stock valued at $186,000 after buying an additional 824 shares during the period. Avenir Corp acquired a new position in JPMorgan Chase & Co. in the first quarter valued at $201,000. Finally, Reilly Herbert Faulkner III acquired a new position in JPMorgan Chase & Co. in the first quarter valued at $202,000. 70.56% of the stock is currently owned by institutional investors.
Shares of NYSE JPM opened at $106.95 on Friday. JPMorgan Chase & Co. has a 1-year low of $94.96 and a 1-year high of $119.33. The stock has a market cap of $387.26 billion, a PE ratio of 15.57, a P/E/G ratio of 1.85 and a beta of 1.17. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.18.
JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Friday, October 12th. The financial services provider reported $2.34 earnings per share for the quarter, beating the consensus estimate of $2.28 by $0.06. JPMorgan Chase & Co. had a net margin of 22.80% and a return on equity of 13.18%. During the same quarter last year, the company earned $1.76 EPS. Equities analysts anticipate that JPMorgan Chase & Co. will post 9.17 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 31st. Stockholders of record on Friday, October 5th will be issued a dividend of $0.80 per share. The ex-dividend date of this dividend is Thursday, October 4th. This represents a $3.20 annualized dividend and a dividend yield of 2.99%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $0.56. JPMorgan Chase & Co.’s dividend payout ratio is currently 46.58%.
In related news, CEO Gordon Smith sold 30,725 shares of the company’s stock in a transaction dated Monday, July 23rd. The shares were sold at an average price of $114.01, for a total value of $3,502,957.25. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.73% of the stock is currently owned by corporate insiders.
Several research firms recently issued reports on JPM. DZ Bank upgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating in a report on Thursday, July 19th. Citigroup boosted their target price on shares of JPMorgan Chase & Co. from $115.00 to $125.00 and gave the company a “neutral” rating in a report on Wednesday, September 26th. Keefe, Bruyette & Woods restated a “$111.53” rating and issued a $127.00 target price on shares of JPMorgan Chase & Co. in a report on Wednesday, July 18th. UBS Group upgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating in a report on Thursday, July 19th. Finally, Credit Suisse Group set a $130.00 target price on shares of JPMorgan Chase & Co. and gave the company a “buy” rating in a report on Thursday, July 12th. Ten analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $121.99.
About JPMorgan Chase & Co.
JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking, and Asset & Wealth Management. The Consumer & Community Banking segment offers deposit and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; residential mortgages and home equity loans; and credit cards, payment processing services, auto loans and leases.
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