USS Investment Management Ltd Sells 41,992 Shares of JPMorgan Chase & Co. (NYSE:JPM)

USS Investment Management Ltd cut its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 5.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 703,066 shares of the financial services provider’s stock after selling 41,992 shares during the period. JPMorgan Chase & Co. comprises approximately 0.8% of USS Investment Management Ltd’s investment portfolio, making the stock its 19th biggest position. USS Investment Management Ltd’s holdings in JPMorgan Chase & Co. were worth $79,200,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Cantor Fitzgerald Investment Advisor L.P lifted its stake in shares of JPMorgan Chase & Co. by 81.1% in the 1st quarter. Cantor Fitzgerald Investment Advisor L.P now owns 222,422 shares of the financial services provider’s stock valued at $30,321,000 after acquiring an additional 99,636 shares during the last quarter. IFM Investors Pty Ltd increased its holdings in JPMorgan Chase & Co. by 19.5% in the first quarter. IFM Investors Pty Ltd now owns 474,403 shares of the financial services provider’s stock valued at $64,671,000 after purchasing an additional 77,353 shares during the period. BCK Partners Inc. acquired a new stake in JPMorgan Chase & Co. in the first quarter valued at $2,455,000. Corundum Group Inc. increased its holdings in JPMorgan Chase & Co. by 69.3% in the first quarter. Corundum Group Inc. now owns 8,080 shares of the financial services provider’s stock valued at $1,101,000 after purchasing an additional 3,306 shares during the period. Finally, FSB Premier Wealth Management Inc. increased its holdings in JPMorgan Chase & Co. by 10.3% in the first quarter. FSB Premier Wealth Management Inc. now owns 5,482 shares of the financial services provider’s stock valued at $676,000 after purchasing an additional 510 shares during the period. 68.57% of the stock is currently owned by institutional investors.

Insider Activity at JPMorgan Chase & Co.

In related news, CEO Mary E. Erdoes sold 33,515 shares of the firm’s stock in a transaction dated Monday, October 17th. The shares were sold at an average price of $115.77, for a total value of $3,880,031.55. Following the transaction, the chief executive officer now owns 533,795 shares of the company’s stock, valued at approximately $61,797,447.15. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other JPMorgan Chase & Co. news, CEO Mary E. Erdoes sold 33,515 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Monday, October 17th. The shares were sold at an average price of $115.77, for a total transaction of $3,880,031.55. Following the transaction, the chief executive officer now owns 533,795 shares of the company’s stock, valued at approximately $61,797,447.15. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Douglas B. Petno sold 5,139 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Wednesday, October 26th. The stock was sold at an average price of $125.02, for a total transaction of $642,477.78. Following the transaction, the chief executive officer now directly owns 248,011 shares in the company, valued at approximately $31,006,335.22. The disclosure for this sale can be found here. In the last quarter, insiders have sold 41,964 shares of company stock valued at $4,936,426. 0.79% of the stock is owned by corporate insiders.

JPMorgan Chase & Co. Stock Up 1.1 %

NYSE JPM traded up $1.44 during trading hours on Thursday, hitting $136.48. The company’s stock had a trading volume of 7,316,204 shares, compared to its average volume of 11,552,875. JPMorgan Chase & Co. has a 52 week low of $101.28 and a 52 week high of $169.81. The company has a market capitalization of $400.32 billion, a PE ratio of 11.53, a price-to-earnings-growth ratio of 2.30 and a beta of 1.14. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.13. The company’s 50-day simple moving average is $119.42 and its two-hundred day simple moving average is $118.46.

JPMorgan Chase & Co. (NYSE:JPMGet Rating) last announced its quarterly earnings results on Friday, October 14th. The financial services provider reported $3.12 earnings per share for the quarter, beating the consensus estimate of $2.95 by $0.17. JPMorgan Chase & Co. had a net margin of 26.85% and a return on equity of 14.52%. The business had revenue of $32.72 billion for the quarter, compared to analysts’ expectations of $31.88 billion. During the same quarter last year, the firm earned $3.74 EPS. The firm’s revenue for the quarter was up 10.4% compared to the same quarter last year. Research analysts anticipate that JPMorgan Chase & Co. will post 11.72 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, October 31st. Investors of record on Thursday, October 6th were given a $1.00 dividend. The ex-dividend date was Wednesday, October 5th. This represents a $4.00 annualized dividend and a yield of 2.93%. JPMorgan Chase & Co.’s payout ratio is 33.78%.

Analysts Set New Price Targets

A number of analysts recently weighed in on JPM shares. StockNews.com started coverage on JPMorgan Chase & Co. in a report on Wednesday, October 12th. They issued a “hold” rating for the company. The Goldman Sachs Group decreased their price objective on JPMorgan Chase & Co. from $133.00 to $130.00 and set a “buy” rating for the company in a report on Tuesday, October 4th. Credit Suisse Group set a $145.00 price objective on JPMorgan Chase & Co. in a report on Tuesday, November 8th. Deutsche Bank Aktiengesellschaft decreased their price target on JPMorgan Chase & Co. from $174.00 to $155.00 and set a “buy” rating for the company in a report on Monday, September 12th. Finally, BMO Capital Markets increased their price target on JPMorgan Chase & Co. from $149.00 to $158.00 and gave the stock a “market perform” rating in a report on Monday, October 17th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $144.90.

About JPMorgan Chase & Co.

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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 s deposit, investment and lending products, payments, and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit card, auto loan, and leasing services.

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Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

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