Capital Investment Counsel LLC Reduces Stock Position in JPMorgan Chase & Co. $JPM

Capital Investment Counsel LLC cut its stake in JPMorgan Chase & Co. (NYSE:JPM) by 2.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 36,066 shares of the financial services provider’s stock after selling 1,084 shares during the quarter. JPMorgan Chase & Co. accounts for about 1.6% of Capital Investment Counsel LLC’s investment portfolio, making the stock its 17th largest holding. Capital Investment Counsel LLC’s holdings in JPMorgan Chase & Co. were worth $10,456,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Kingstone Capital Partners Texas LLC lifted its holdings in shares of JPMorgan Chase & Co. by 609,867.5% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 72,897,211 shares of the financial services provider’s stock valued at $21,133,630,000 after buying an additional 72,885,260 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of JPMorgan Chase & Co. by 1.9% in the first quarter. Bank of New York Mellon Corp now owns 24,801,153 shares of the financial services provider’s stock worth $6,083,723,000 after acquiring an additional 454,226 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of JPMorgan Chase & Co. by 2.7% in the first quarter. Goldman Sachs Group Inc. now owns 20,548,182 shares of the financial services provider’s stock worth $5,040,469,000 after acquiring an additional 548,853 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in JPMorgan Chase & Co. by 5.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 18,441,044 shares of the financial services provider’s stock valued at $4,523,588,000 after acquiring an additional 890,553 shares during the last quarter. Finally, Nuveen LLC bought a new position in JPMorgan Chase & Co. in the first quarter valued at about $3,972,807,000. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Price Performance

NYSE JPM opened at $314.30 on Friday. JPMorgan Chase & Co. has a 12 month low of $202.16 and a 12 month high of $318.01. The stock has a market cap of $864.26 billion, a price-to-earnings ratio of 15.57, a PEG ratio of 1.84 and a beta of 1.14. The company’s 50 day moving average is $306.18 and its two-hundred day moving average is $286.92. The company has a current ratio of 0.86, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share for the quarter, topping analysts’ consensus estimates of $4.83 by $0.24. The business had revenue of $46.43 billion during the quarter, compared to analyst estimates of $44.42 billion. JPMorgan Chase & Co. had a net margin of 20.90% and a return on equity of 17.18%. The company’s revenue was up 8.8% on a year-over-year basis. During the same period in the prior year, the business posted $4.37 earnings per share. As a group, research analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Monday, October 6th were issued a $1.50 dividend. The ex-dividend date of this dividend was Monday, October 6th. This represents a $6.00 annualized dividend and a yield of 1.9%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. JPMorgan Chase & Co.’s payout ratio is currently 29.72%.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, Director Linda Bammann sold 9,500 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $297.94, for a total value of $2,830,430.00. Following the completion of the transaction, the director owned 82,207 shares of the company’s stock, valued at $24,492,753.58. This represents a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Robin Leopold sold 966 shares of the stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $311.92, for a total value of $301,314.72. Following the sale, the insider owned 58,479 shares of the company’s stock, valued at $18,240,769.68. This represents a 1.63% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.47% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on JPM. Phillip Securities downgraded JPMorgan Chase & Co. from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, July 16th. UBS Group raised their price objective on shares of JPMorgan Chase & Co. from $339.00 to $350.00 and gave the stock a “buy” rating in a report on Tuesday, October 7th. Wolfe Research boosted their target price on shares of JPMorgan Chase & Co. from $342.00 to $346.00 and gave the company an “outperform” rating in a research report on Thursday, October 16th. Bank of America upped their target price on shares of JPMorgan Chase & Co. from $330.00 to $340.00 and gave the company a “buy” rating in a report on Wednesday, July 16th. Finally, Wall Street Zen upgraded shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research report on Saturday. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $326.38.

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.