AQR Capital Management LLC Trims Stake in JPMorgan Chase & Co. $JPM

AQR Capital Management LLC reduced its stake in JPMorgan Chase & Co. (NYSE:JPM) by 7.0% in the second quarter, Holdings Channel.com reports. The institutional investor owned 1,329,821 shares of the financial services provider’s stock after selling 99,962 shares during the period. AQR Capital Management LLC’s holdings in JPMorgan Chase & Co. were worth $385,528,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. CTC Alternative Strategies Ltd. grew its holdings in shares of JPMorgan Chase & Co. by 261.5% during the 2nd quarter. CTC Alternative Strategies Ltd. now owns 7,954 shares of the financial services provider’s stock worth $2,306,000 after acquiring an additional 5,754 shares during the period. Strategic Wealth Investment Group LLC grew its stake in JPMorgan Chase & Co. by 6.3% in the second quarter. Strategic Wealth Investment Group LLC now owns 6,394 shares of the financial services provider’s stock worth $1,854,000 after purchasing an additional 381 shares during the period. Vista Capital Partners Inc. grew its stake in JPMorgan Chase & Co. by 11.2% in the second quarter. Vista Capital Partners Inc. now owns 4,032 shares of the financial services provider’s stock worth $1,169,000 after purchasing an additional 407 shares during the period. Florida Financial Advisors LLC raised its holdings in JPMorgan Chase & Co. by 30.6% in the second quarter. Florida Financial Advisors LLC now owns 12,885 shares of the financial services provider’s stock worth $3,751,000 after purchasing an additional 3,022 shares in the last quarter. Finally, Graney & King LLC lifted its position in JPMorgan Chase & Co. by 7.5% during the second quarter. Graney & King LLC now owns 894 shares of the financial services provider’s stock valued at $259,000 after buying an additional 62 shares during the period. 71.55% of the stock is owned by institutional investors.

Insider Activity at JPMorgan Chase & Co.

In other news, insider Robin Leopold sold 966 shares of the business’s stock in a transaction that occurred 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 transaction, the insider directly owned 58,479 shares of the company’s stock, 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 at the SEC website. 0.47% of the stock is owned by corporate insiders.

JPMorgan Chase & Co. Stock Performance

Shares of JPM opened at $318.74 on Friday. The company has a market cap of $867.69 billion, a price-to-earnings ratio of 15.79, a P/E/G ratio of 1.64 and a beta of 1.08. The business’s fifty day simple moving average is $306.77 and its two-hundred day simple moving average is $296.41. JPMorgan Chase & Co. has a 12 month low of $202.16 and a 12 month high of $322.25. 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 announced its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $44.42 billion. During the same period in the prior year, the company posted $4.37 earnings per share. The company’s quarterly revenue was up 8.8% on a year-over-year basis. Research analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Saturday, January 31st. Stockholders of record on Tuesday, January 6th will be issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Tuesday, January 6th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 29.72%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on JPM. Wells Fargo & Company upped their target price on shares of JPMorgan Chase & Co. from $345.00 to $350.00 and gave the stock an “overweight” rating in a research report on Monday, November 3rd. TD Cowen boosted their price objective on shares of JPMorgan Chase & Co. from $350.00 to $370.00 and gave the stock a “buy” rating in a research note on Friday, October 3rd. KGI Securities raised their target price on shares of JPMorgan Chase & Co. from $300.00 to $315.00 and gave the company a “hold” rating in a research note on Wednesday, October 15th. Wall Street Zen upgraded shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Finally, Wolfe Research boosted their price target on JPMorgan Chase & Co. from $342.00 to $346.00 and gave the stock an “outperform” rating in a research report on Thursday, October 16th. Fifteen analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $325.48.

About JPMorgan Chase & Co.

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.