Atalanta Sosnoff Capital LLC Sells 5,836 Shares of JPMorgan Chase & Co. $JPM

Atalanta Sosnoff Capital LLC lessened its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.8% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 682,907 shares of the financial services provider’s stock after selling 5,836 shares during the period. JPMorgan Chase & Co. accounts for about 4.0% of Atalanta Sosnoff Capital LLC’s holdings, making the stock its 6th biggest holding. Atalanta Sosnoff Capital LLC’s holdings in JPMorgan Chase & Co. were worth $197,982,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. QVR LLC acquired a new position in shares of JPMorgan Chase & Co. during the 2nd quarter worth approximately $440,000. South Plains Financial Inc. grew its stake in shares of JPMorgan Chase & Co. by 1.2% in the second quarter. South Plains Financial Inc. now owns 6,148 shares of the financial services provider’s stock valued at $1,782,000 after buying an additional 73 shares in the last quarter. Jaffetilchin Investment Partners LLC increased its holdings in JPMorgan Chase & Co. by 6.5% during the second quarter. Jaffetilchin Investment Partners LLC now owns 46,924 shares of the financial services provider’s stock worth $13,604,000 after buying an additional 2,866 shares during the last quarter. Insigneo Advisory Services LLC raised its position in JPMorgan Chase & Co. by 5.6% during the second quarter. Insigneo Advisory Services LLC now owns 34,001 shares of the financial services provider’s stock worth $9,857,000 after acquiring an additional 1,798 shares in the last quarter. Finally, CreativeOne Wealth LLC lifted its stake in JPMorgan Chase & Co. by 9.1% in the second quarter. CreativeOne Wealth LLC now owns 31,967 shares of the financial services provider’s stock valued at $9,268,000 after acquiring an additional 2,662 shares during the last quarter. 71.55% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Robin Leopold sold 966 shares of the business’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $311.92, for a total value of $301,314.72. Following the completion of the sale, the insider owned 58,479 shares of the company’s stock, valued at approximately $18,240,769.68. The trade was a 1.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.47% of the company’s stock.

JPMorgan Chase & Co. Trading Down 1.3%

Shares of NYSE:JPM opened at $308.89 on Tuesday. JPMorgan Chase & Co. has a 12-month low of $202.16 and a 12-month high of $322.25. The business has a 50 day moving average of $306.82 and a 200-day moving average of $293.74. The company has a quick ratio of 0.88, a current ratio of 0.86 and a debt-to-equity ratio of 1.26. The stock has a market cap of $840.88 billion, a PE ratio of 15.30, a P/E/G ratio of 1.84 and a beta of 1.14.

JPMorgan Chase & Co. (NYSE:JPM) last announced its 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 company had revenue of $47.12 billion for the quarter, compared to analyst estimates of $44.42 billion. JPMorgan Chase & Co. had a return on equity of 17.18% and a net margin of 20.90%.The firm’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter last year, the company earned $4.37 earnings per share. As a group, equities research analysts forecast 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. Stockholders of record on Monday, October 6th were issued a dividend of $1.50 per share. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend was Monday, October 6th. JPMorgan Chase & Co.’s payout ratio is 29.72%.

Wall Street Analysts Forecast Growth

JPM has been the topic of several recent analyst reports. Evercore ISI boosted their price objective on shares of JPMorgan Chase & Co. from $309.00 to $330.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 30th. Citigroup lifted their price target on JPMorgan Chase & Co. from $275.00 to $325.00 and gave the stock a “neutral” rating in a report on Wednesday, September 24th. Dbs Bank raised JPMorgan Chase & Co. to a “hold” rating in a research report on Tuesday, October 21st. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $366.00 price objective on shares of JPMorgan Chase & Co. in a research report on Tuesday, October 14th. Finally, Wells Fargo & Company lifted their target price on JPMorgan Chase & Co. from $345.00 to $350.00 and gave the stock an “overweight” rating in a research note on Monday, November 3rd. Fifteen analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus 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.