Country Trust Bank Sells 6,571 Shares of JPMorgan Chase & Co. $JPM

Country Trust Bank lowered its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 3.1% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 208,552 shares of the financial services provider’s stock after selling 6,571 shares during the period. JPMorgan Chase & Co. comprises about 1.4% of Country Trust Bank’s portfolio, making the stock its 20th biggest position. Country Trust Bank’s holdings in JPMorgan Chase & Co. were worth $60,461,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of JPM. Harbor Asset Planning Inc. bought a new position in JPMorgan Chase & Co. in the 2nd quarter valued at approximately $26,000. Mizuho Securities Co. Ltd. grew its holdings in JPMorgan Chase & Co. by 450.0% during the 2nd quarter. Mizuho Securities Co. Ltd. now owns 110 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 90 shares during the last quarter. University of Illinois Foundation acquired a new position in JPMorgan Chase & Co. in the 1st quarter valued at approximately $30,000. Ryan Investment Management Inc. acquired a new position in JPMorgan Chase & Co. in the 2nd quarter valued at approximately $37,000. Finally, Christopher J. Hasenberg Inc raised its stake in shares of JPMorgan Chase & Co. by 212.0% during the second quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 106 shares during the last quarter. 71.55% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Dbs Bank raised shares of JPMorgan Chase & Co. to a “hold” rating in a research note on Tuesday, October 21st. Keefe, Bruyette & Woods increased their price target on JPMorgan Chase & Co. from $330.00 to $354.00 and gave the company an “outperform” rating in a research note on Friday, October 10th. Loop Capital set a $310.00 price objective on JPMorgan Chase & Co. in a research note on Thursday, October 23rd. Royal Bank Of Canada reiterated a “buy” rating and issued a $343.00 target price on shares of JPMorgan Chase & Co. in a report on Tuesday, October 14th. Finally, Wall Street Zen upgraded shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Fifteen equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $326.38.

JPMorgan Chase & Co. Price Performance

Shares of JPM opened at $307.84 on Wednesday. JPMorgan Chase & Co. has a 52-week low of $202.16 and a 52-week high of $322.25. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.86. The business’s 50 day moving average price is $306.73 and its two-hundred day moving average price is $294.02. The firm has a market cap of $838.02 billion, a PE ratio of 15.25, a price-to-earnings-growth ratio of 1.84 and a beta of 1.14.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $5.07 EPS for the quarter, topping the consensus estimate of $4.83 by $0.24. JPMorgan Chase & Co. had a net margin of 20.90% and a return on equity of 17.18%. The company had revenue of $47.12 billion during the quarter, compared to the consensus estimate of $44.42 billion. During the same quarter last year, the firm posted $4.37 EPS. The company’s quarterly revenue was up 8.8% on a year-over-year basis. On average, equities analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed 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 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Monday, October 6th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 29.72%.

Insider Activity

In other news, insider Robin Leopold sold 966 shares of the firm’s 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 completion of the sale, the insider directly owned 58,479 shares in the company, valued at $18,240,769.68. This trade represents a 1.63% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.47% of the stock is owned by company insiders.

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.