Gabelli Funds LLC Reduces Stake in JPMorgan Chase & Co. $JPM

Gabelli Funds LLC lowered its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 1.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 354,138 shares of the financial services provider’s stock after selling 6,112 shares during the quarter. JPMorgan Chase & Co. accounts for 0.7% of Gabelli Funds LLC’s holdings, making the stock its 22nd biggest position. Gabelli Funds LLC’s holdings in JPMorgan Chase & Co. were worth $102,668,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in JPM. JFS Wealth Advisors LLC increased its holdings in JPMorgan Chase & Co. by 0.4% in the second quarter. JFS Wealth Advisors LLC now owns 7,897 shares of the financial services provider’s stock valued at $2,290,000 after buying an additional 35 shares in the last quarter. Cottonwood Capital Advisors LLC raised its holdings in shares of JPMorgan Chase & Co. by 0.9% during the second quarter. Cottonwood Capital Advisors LLC now owns 3,837 shares of the financial services provider’s stock valued at $1,112,000 after acquiring an additional 35 shares during the last quarter. Coign Capital Advisors LLC lifted its holdings in JPMorgan Chase & Co. by 1.2% in the 2nd quarter. Coign Capital Advisors LLC now owns 2,854 shares of the financial services provider’s stock valued at $827,000 after purchasing an additional 35 shares in the last quarter. Rialto Wealth Management LLC lifted its stake in shares of JPMorgan Chase & Co. by 3.9% in the second quarter. Rialto Wealth Management LLC now owns 929 shares of the financial services provider’s stock worth $269,000 after buying an additional 35 shares in the last quarter. Finally, Breed s Hill Capital LLC lifted its stake in JPMorgan Chase & Co. by 0.8% in the 2nd quarter. Breed s Hill Capital LLC now owns 4,642 shares of the financial services provider’s stock worth $1,346,000 after purchasing an additional 35 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Price Performance

Shares of JPM opened at $314.96 on Tuesday. JPMorgan Chase & Co. has a twelve month low of $202.16 and a twelve month high of $322.25. The firm’s fifty day simple moving average is $306.72 and its 200-day simple moving average is $295.48. The firm has a market capitalization of $857.39 billion, a price-to-earnings ratio of 15.60, a PEG ratio of 1.63 and a beta of 1.08. 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 earnings results on Tuesday, October 14th. The financial services provider reported $5.07 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $44.42 billion. During the same quarter in the previous year, the firm posted $4.37 earnings per share. The company’s revenue was up 8.8% compared to the same quarter last year. Equities analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

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

Insiders Place Their Bets

In related news, insider Robin Leopold sold 966 shares of the business’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 transaction of $301,314.72. Following the completion of the sale, the insider owned 58,479 shares in the company, valued at $18,240,769.68. The trade was 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 the SEC website. 0.47% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on JPM shares. The Goldman Sachs Group dropped their price objective on shares of JPMorgan Chase & Co. from $355.00 to $354.00 and set a “buy” rating for the company in a report on Friday. Zacks Research lowered JPMorgan Chase & Co. from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 18th. TD Cowen increased their target price on shares of JPMorgan Chase & Co. from $350.00 to $370.00 and gave the stock a “buy” rating in a report on Friday, October 3rd. Wolfe Research boosted their price target on shares of JPMorgan Chase & Co. from $342.00 to $346.00 and gave the stock an “outperform” rating in a research note on Thursday, October 16th. Finally, Loop Capital set a $310.00 target price on JPMorgan Chase & Co. in a report on Thursday, October 23rd. 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 stock. According to data from MarketBeat, JPMorgan Chase & Co. has a consensus rating of “Hold” and an average price target of $325.81.

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.