JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by M&G Plc

M&G Plc reduced its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 16.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 386,921 shares of the financial services provider’s stock after selling 73,530 shares during the quarter. M&G Plc’s holdings in JPMorgan Chase & Co. were worth $78,158,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Stone House Investment Management LLC raised its stake in shares of JPMorgan Chase & Co. by 132.8% during the fourth 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 last quarter. Retirement Group LLC boosted its holdings in shares of JPMorgan Chase & Co. by 227.1% in the first quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 109 shares in the last quarter. Richardson Capital Management LLC acquired a new position in shares of JPMorgan Chase & Co. during the first quarter worth about $34,000. Bare Financial Services Inc acquired a new position in shares of JPMorgan Chase & Co. during the fourth quarter worth about $35,000. Finally, Partnership Wealth Management LLC purchased a new position in JPMorgan Chase & Co. during the fourth quarter worth about $36,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Trading Up 0.8 %

Shares of JPM stock opened at $207.94 on Wednesday. The company has a market capitalization of $597.13 billion, a price-to-earnings ratio of 11.60, a PEG ratio of 2.42 and a beta of 1.12. The company has a current ratio of 0.91, a quick ratio of 0.92 and a debt-to-equity ratio of 1.24. The firm has a 50-day moving average price of $203.84 and a 200 day moving average price of $194.92. 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 issued its quarterly earnings results on Friday, July 12th. The financial services provider reported $6.12 EPS for the quarter, topping analysts’ consensus estimates of $4.19 by $1.93. The business had revenue of $50.80 billion during the quarter, compared to the consensus estimate 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 previous year, the firm posted $4.37 earnings per share. Research analysts forecast 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 disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Friday, July 5th were issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 2.21%. The ex-dividend date was Friday, July 5th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 25.66%.

Insider Activity

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

Wall Street Analyst Weigh In

Several equities analysts have issued reports on JPM shares. Robert W. Baird boosted their target price on JPMorgan Chase & Co. from $175.00 to $185.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 21st. StockNews.com upgraded JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research report on Saturday, July 13th. Royal Bank of Canada restated an “outperform” rating and set a $211.00 target price on shares of JPMorgan Chase & Co. in a research report on Tuesday, May 21st. Morgan Stanley increased their price target on shares of JPMorgan Chase & Co. from $221.00 to $226.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Finally, UBS Group boosted their price objective on shares of JPMorgan Chase & Co. from $219.00 to $224.00 and gave the stock a “buy” rating in a report on Tuesday, May 21st. Eight equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, JPMorgan Chase & Co. currently has an average rating of “Moderate Buy” and a consensus price target of $205.71.

JPMorgan Chase & Co. Company Profile

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.