JPMorgan Chase & Co. $JPM is Cullen Capital Management LLC’s Largest Position

Cullen Capital Management LLC cut its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 1.9% in the 2nd quarter, HoldingsChannel reports. The fund owned 1,047,243 shares of the financial services provider’s stock after selling 19,967 shares during the period. JPMorgan Chase & Co. makes up 3.5% of Cullen Capital Management LLC’s investment portfolio, making the stock its largest position. Cullen Capital Management LLC’s holdings in JPMorgan Chase & Co. were worth $303,606,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Harbor Asset Planning Inc. purchased a new position in JPMorgan Chase & Co. during the second quarter worth about $26,000. Mizuho Securities Co. Ltd. increased its stake in shares of 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 valued at $32,000 after acquiring an additional 90 shares during the last quarter. Ryan Investment Management Inc. purchased a new position in shares of JPMorgan Chase & Co. during the 2nd quarter worth about $37,000. Christopher J. Hasenberg Inc boosted its position in shares of JPMorgan Chase & Co. by 212.0% in the second quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 106 shares during the last quarter. Finally, Clarity Asset Management Inc. boosted its position in shares of JPMorgan Chase & Co. by 87.1% in the second quarter. Clarity Asset Management Inc. now owns 217 shares of the financial services provider’s stock worth $63,000 after acquiring an additional 101 shares during the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Weiss Ratings reaffirmed a “buy (b+)” rating on shares of JPMorgan Chase & Co. in a research report on Monday, December 8th. UBS Group upped their price objective on JPMorgan Chase & Co. from $339.00 to $350.00 and gave the stock a “buy” rating in a report on Tuesday, October 7th. KGI Securities lifted their target price on JPMorgan Chase & Co. from $300.00 to $315.00 and gave the company a “hold” rating in a report on Wednesday, October 15th. Dbs Bank raised JPMorgan Chase & Co. to a “hold” rating in a research report on Tuesday, October 21st. Finally, Keefe, Bruyette & Woods upped their price target on JPMorgan Chase & Co. from $330.00 to $354.00 and gave the stock an “outperform” rating in a research note on Friday, October 10th. Fifteen analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, JPMorgan Chase & Co. has a consensus rating of “Hold” and an average price target of $327.05.

JPMorgan Chase & Co. Stock Up 0.5%

Shares of JPMorgan Chase & Co. stock opened at $320.14 on Tuesday. JPMorgan Chase & Co. has a twelve month low of $202.16 and a twelve month high of $322.88. The stock has a market cap of $871.50 billion, a price-to-earnings ratio of 15.86, a price-to-earnings-growth ratio of 1.65 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. The company has a fifty day moving average price of $306.99 and a 200 day moving average price of $297.25.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data 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 return on equity of 17.18% and a net margin of 20.90%.The company had revenue of $47.12 billion for the quarter, compared to analysts’ expectations of $44.42 billion. During the same quarter in the previous year, the firm posted $4.37 earnings per share. The firm’s quarterly revenue was up 8.8% on a year-over-year basis. Equities research analysts forecast 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. Investors of record on Tuesday, January 6th will be given a dividend of $1.50 per share. The ex-dividend date of this dividend is Tuesday, January 6th. This represents a $6.00 annualized dividend and a yield of 1.9%. JPMorgan Chase & Co.’s payout ratio is 29.72%.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, insider Robin Leopold sold 966 shares of the company’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 owned 58,479 shares in the company, valued at $18,240,769.68. This represents a 1.63% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.47% of the stock is currently owned by corporate insiders.

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.