Grantham Mayo Van Otterloo & Co. LLC Trims Position in JPMorgan Chase & Co. $JPM

Grantham Mayo Van Otterloo & Co. LLC reduced its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 17.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 198,928 shares of the financial services provider’s stock after selling 40,731 shares during the period. Grantham Mayo Van Otterloo & Co. LLC’s holdings in JPMorgan Chase & Co. were worth $57,671,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in JPM. Mosaic Financial Group LLC lifted its holdings in 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 valued at $2,280,000 after acquiring an additional 78 shares during the period. Creative Planning increased its holdings in shares of JPMorgan Chase & Co. by 2.2% during the 2nd quarter. Creative Planning now owns 1,364,887 shares of the financial services provider’s stock valued at $395,695,000 after purchasing an additional 29,844 shares in the last quarter. Aviva PLC lifted its stake in shares of JPMorgan Chase & Co. by 6.0% in the 2nd quarter. Aviva PLC now owns 2,232,458 shares of the financial services provider’s stock valued at $647,212,000 after purchasing an additional 126,742 shares during the period. Kelman Lazarov Inc. lifted its stake in shares of JPMorgan Chase & Co. by 16.9% in the 2nd quarter. Kelman Lazarov Inc. now owns 1,257 shares of the financial services provider’s stock valued at $364,000 after purchasing an additional 182 shares during the period. Finally, Gladwyn Financial Advisors Inc. purchased a new stake in JPMorgan Chase & Co. during the second quarter worth $534,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Price Performance

Shares of JPMorgan Chase & Co. stock opened at $312.07 on Thursday. The business has a 50 day simple moving average of $306.70 and a two-hundred day simple moving average of $294.15. JPMorgan Chase & Co. has a 12 month low of $202.16 and a 12 month high of $322.25. The stock has a market capitalization of $849.54 billion, a P/E ratio of 15.46, a PEG ratio of 1.60 and a beta of 1.08. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.86 and a quick ratio of 0.86.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $47.12 billion for the quarter, compared to analyst estimates of $44.42 billion. During the same period in the previous year, the company posted $4.37 earnings per share. The business’s revenue was up 8.8% on a year-over-year basis. As a group, analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

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

Analysts Set New Price Targets

A number of research firms have weighed in on JPM. Daiwa Capital Markets lifted their price objective on shares of JPMorgan Chase & Co. from $330.00 to $332.00 and gave the company an “outperform” rating in a report on Wednesday, October 8th. Zacks Research cut JPMorgan Chase & Co. from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 18th. DZ Bank restated a “neutral” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, October 15th. TD Cowen upped their price target on JPMorgan Chase & Co. from $350.00 to $370.00 and gave the stock a “buy” rating in a report on Friday, October 3rd. Finally, Citigroup raised their price objective on JPMorgan Chase & Co. from $275.00 to $325.00 and gave the company a “neutral” rating in a report on Wednesday, September 24th. Fifteen equities research 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’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $326.38.

Insider Transactions at JPMorgan Chase & Co.

In other news, insider Robin Leopold sold 966 shares of the company’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $311.92, for a total transaction of $301,314.72. Following the completion of 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.47% of the stock is currently 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.