JPMorgan Chase & Co. (NYSE:JPM) Holdings Cut by OFI Invest Asset Management

OFI Invest Asset Management lowered its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 459,562 shares of the financial services provider’s stock after selling 2,055 shares during the period. JPMorgan Chase & Co. accounts for about 2.3% of OFI Invest Asset Management’s investment portfolio, making the stock its 8th biggest holding. OFI Invest Asset Management’s holdings in JPMorgan Chase & Co. were worth $86,728,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. International Assets Investment Management LLC purchased a new position in JPMorgan Chase & Co. in the 4th quarter worth $55,033,000. Tennessee Valley Asset Management Partners boosted its stake in shares of JPMorgan Chase & Co. by 2.3% during the 4th quarter. Tennessee Valley Asset Management Partners now owns 6,550 shares of the financial services provider’s stock worth $1,114,000 after acquiring an additional 150 shares in the last quarter. Klingman & Associates LLC grew its holdings in JPMorgan Chase & Co. by 2.0% in the fourth quarter. Klingman & Associates LLC now owns 11,369 shares of the financial services provider’s stock valued at $1,934,000 after purchasing an additional 222 shares during the period. RPG Investment Advisory LLC increased its holdings in JPMorgan Chase & Co. by 1.4% in the 4th quarter. RPG Investment Advisory LLC now owns 44,299 shares of the financial services provider’s stock worth $7,535,000 after acquiring an additional 617 shares in the last quarter. Finally, Highview Capital Management LLC DE raised its position in shares of JPMorgan Chase & Co. by 1.3% during the 4th quarter. Highview Capital Management LLC DE now owns 11,438 shares of the financial services provider’s stock worth $1,946,000 after purchasing an additional 147 shares during the last quarter. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Up 1.1 %

Shares of JPM stock traded up $2.42 on Friday, reaching $213.97. 7,931,234 shares of the stock were exchanged, compared to its average volume of 9,221,095. The company has a market capitalization of $614.45 billion, a price-to-earnings ratio of 11.93, a PEG ratio of 2.42 and a beta of 1.12. The business’s 50 day moving average price is $204.67 and its 200 day moving average price is $195.56. The company has a current ratio of 0.91, a quick ratio of 0.92 and a debt-to-equity ratio of 1.24. JPMorgan Chase & Co. has a twelve month low of $135.19 and a twelve month high of $217.56.

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

JPMorgan Chase & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Friday, July 5th were given a dividend of $1.15 per share. The ex-dividend date was Friday, July 5th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.15%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 25.66%.

Insider Activity

In other JPMorgan Chase & Co. news, insider Ashley Bacon sold 5,086 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $199.54, for a total transaction of $1,014,860.44. Following the completion of the sale, the insider now directly owns 212,265 shares of the company’s stock, valued at approximately $42,355,358.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Ashley Bacon sold 5,086 shares of the firm’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $199.54, for a total value of $1,014,860.44. Following the completion of the sale, the insider now owns 212,265 shares in the company, valued at approximately $42,355,358.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Stacey Friedman sold 4,415 shares of the business’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $200.65, for a total transaction of $885,869.75. Following the transaction, the general counsel now owns 42,124 shares in the company, valued at $8,452,180.60. The disclosure for this sale can be found here. Insiders have sold 14,799 shares of company stock valued at $2,963,721 in the last ninety days. 0.79% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on JPM. Citigroup upped their price objective on shares of JPMorgan Chase & Co. from $205.00 to $215.00 and gave the company a “neutral” rating in a research note on Monday, July 15th. Keefe, Bruyette & Woods increased their price target on JPMorgan Chase & Co. from $209.00 to $211.00 and gave the company a “market perform” rating in a report on Tuesday, July 9th. Wolfe Research lowered JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research note on Monday, July 8th. Morgan Stanley raised their target price on JPMorgan Chase & Co. from $221.00 to $226.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Finally, Wells Fargo & Company upped their price objective on shares of JPMorgan Chase & Co. from $220.00 to $225.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Eight investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $205.71.

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.