JPMorgan Chase & Co. $JPM Shares Sold by Fisher Asset Management LLC

Fisher Asset Management LLC lessened its position in JPMorgan Chase & Co. (NYSE:JPM) by 16.3% in the 2nd quarter, Holdings Channel reports. The firm owned 15,375,410 shares of the financial services provider’s stock after selling 2,993,722 shares during the period. JPMorgan Chase & Co. accounts for approximately 1.8% of Fisher Asset Management LLC’s investment portfolio, making the stock its 10th biggest holding. Fisher Asset Management LLC’s holdings in JPMorgan Chase & Co. were worth $4,457,485,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in JPM. Kingstone Capital Partners Texas LLC lifted its holdings in JPMorgan Chase & Co. by 609,867.5% during the second quarter. Kingstone Capital Partners Texas LLC now owns 72,897,211 shares of the financial services provider’s stock worth $21,133,630,000 after acquiring an additional 72,885,260 shares in the last quarter. Norges Bank acquired a new stake in shares of JPMorgan Chase & Co. during the second quarter worth about $10,295,209,000. Laurel Wealth Advisors LLC lifted its holdings in shares of JPMorgan Chase & Co. by 28,813.7% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 16,785,584 shares of the financial services provider’s stock valued at $4,866,309,000 after purchasing an additional 16,727,530 shares in the last quarter. Nuveen LLC acquired a new position in shares of JPMorgan Chase & Co. in the 1st quarter valued at approximately $3,972,807,000. Finally, Montrusco Bolton Investments Inc. bought a new stake in JPMorgan Chase & Co. during the 2nd quarter worth approximately $485,802,000. 71.55% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on JPM. DZ Bank reaffirmed a “neutral” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, October 15th. KGI Securities raised their price objective on shares of JPMorgan Chase & Co. from $300.00 to $315.00 and gave the stock a “hold” rating in a report on Wednesday, October 15th. Barclays upped their target price on shares of JPMorgan Chase & Co. from $330.00 to $342.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 15th. Citigroup increased their target price on JPMorgan Chase & Co. from $275.00 to $325.00 and gave the stock a “neutral” rating in a report on Wednesday, September 24th. Finally, Zacks Research downgraded JPMorgan Chase & Co. from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 18th. Fifteen analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, JPMorgan Chase & Co. has a consensus rating of “Hold” and an average price target of $325.81.

JPMorgan Chase & Co. Stock Performance

Shares of JPM opened at $315.20 on Friday. The stock has a market capitalization of $858.06 billion, a price-to-earnings ratio of 15.61, a PEG ratio of 1.64 and a beta of 1.08. JPMorgan Chase & Co. has a 12 month low of $202.16 and a 12 month high of $322.25. The firm has a fifty day simple moving average of $306.73 and a 200 day simple moving average of $294.65. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.26.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results 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 firm had revenue of $47.12 billion for the quarter, compared to analysts’ expectations of $44.42 billion. During the same period in the previous year, the firm posted $4.37 EPS. The company’s revenue for the quarter was up 8.8% on a year-over-year basis. Research analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

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

Insider Buying and Selling

In other JPMorgan Chase & Co. news, insider Robin Leopold sold 966 shares of the firm’s stock in a transaction that occurred on 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 transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.47% of the company’s stock.

JPMorgan Chase & Co. 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.