Monetary Management Group Inc. Reduces Stake in JPMorgan Chase & Co. (NYSE:JPM)

Monetary Management Group Inc. reduced its stake in JPMorgan Chase & Co. (NYSE:JPM) by 1.0% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 26,654 shares of the financial services provider’s stock after selling 275 shares during the quarter. JPMorgan Chase & Co. makes up approximately 1.4% of Monetary Management Group Inc.’s investment portfolio, making the stock its 12th largest position. Monetary Management Group Inc.’s holdings in JPMorgan Chase & Co. were worth $5,391,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in JPM. Stone House Investment Management LLC grew its holdings in shares of JPMorgan Chase & Co. by 132.8% during the 4th quarter. Stone House Investment Management LLC now owns 156 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 89 shares during the period. Retirement Group LLC lifted its stake in JPMorgan Chase & Co. by 227.1% during the 1st quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 109 shares in the last quarter. Richardson Capital Management LLC acquired a new position in JPMorgan Chase & Co. during the 1st quarter worth about $34,000. Davidson Capital Management Inc. acquired a new position in JPMorgan Chase & Co. during the 1st quarter worth about $37,000. Finally, Kathleen S. Wright Associates Inc. acquired a new position in JPMorgan Chase & Co. during the 1st quarter worth about $40,000. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on JPM shares. Royal Bank of Canada reissued an “outperform” rating and set a $211.00 target price on shares of JPMorgan Chase & Co. in a research note on Tuesday, May 21st. StockNews.com raised JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research note on Saturday, July 13th. Barclays increased their target price on JPMorgan Chase & Co. from $212.00 to $217.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. UBS Group increased their target price on JPMorgan Chase & Co. from $219.00 to $224.00 and gave the stock a “buy” rating in a research note on Tuesday, May 21st. Finally, Evercore ISI increased their price target on JPMorgan Chase & Co. from $210.00 to $211.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. Eight investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, JPMorgan Chase & Co. has a consensus rating of “Moderate Buy” and a consensus target price of $205.71.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock traded up $0.96 during midday trading on Thursday, hitting $211.20. The company had a trading volume of 898,643 shares, compared to its average volume of 9,188,964. The company’s 50 day simple moving average is $204.10 and its 200 day simple moving average is $195.02. JPMorgan Chase & Co. has a 52-week low of $135.19 and a 52-week high of $217.56. The stock has a market cap of $606.50 billion, a price-to-earnings ratio of 11.78, a PEG ratio of 2.42 and a beta of 1.12. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.91 and a quick ratio of 0.92.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Friday, July 12th. The financial services provider reported $6.12 earnings per share for the quarter, beating analysts’ consensus estimates of $4.19 by $1.93. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. The firm had revenue of $50.80 billion for the quarter, compared to the consensus estimate of $42.23 billion. During the same period in the previous year, the business earned $4.37 earnings per share. Research analysts anticipate that JPMorgan Chase & Co. will post 16.78 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Friday, July 5th were paid a $1.15 dividend. The ex-dividend date of this dividend was Friday, July 5th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.18%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 25.66%.

Insider Activity at JPMorgan Chase & Co.

In related news, General Counsel Stacey Friedman sold 4,415 shares of JPMorgan Chase & Co. stock in a transaction on Monday, May 20th. The stock was sold at an average price of $200.65, for a total transaction of $885,869.75. Following the completion of the transaction, the general counsel now directly owns 42,124 shares of the company’s stock, valued at $8,452,180.60. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, insider Lori A. Beer sold 5,298 shares of JPMorgan Chase & Co. stock in a transaction on Monday, May 20th. The stock was sold at an average price of $200.64, for a total transaction of $1,062,990.72. Following the completion of the transaction, the insider now directly owns 46,375 shares of the company’s stock, valued at $9,304,680. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, General Counsel Stacey Friedman sold 4,415 shares of the business’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $200.65, for a total value of $885,869.75. Following the completion of the transaction, the general counsel now directly owns 42,124 shares of the company’s stock, valued at $8,452,180.60. The disclosure for this sale can be found here. Insiders have sold a total of 14,799 shares of company stock worth $2,963,721 over the last three months. 0.79% of the stock is currently owned by corporate insiders.

About JPMorgan Chase & Co.

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.