JPMorgan Chase & Co. $JPM Shares Sold by Graves Light Lenhart Wealth Inc.

Graves Light Lenhart Wealth Inc. decreased its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 5.4% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 38,583 shares of the financial services provider’s stock after selling 2,199 shares during the quarter. JPMorgan Chase & Co. comprises about 1.3% of Graves Light Lenhart Wealth Inc.’s investment portfolio, making the stock its 22nd largest holding. Graves Light Lenhart Wealth Inc.’s holdings in JPMorgan Chase & Co. were worth $11,185,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the business. Bank of New York Mellon Corp grew its stake in shares of JPMorgan Chase & Co. by 1.9% in the first quarter. Bank of New York Mellon Corp now owns 24,801,153 shares of the financial services provider’s stock worth $6,083,723,000 after acquiring an additional 454,226 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of JPMorgan Chase & Co. by 25,861.9% in the first quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider’s stock worth $5,778,289,000 after acquiring an additional 23,465,278 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of JPMorgan Chase & Co. by 2.7% in the first quarter. Goldman Sachs Group Inc. now owns 20,548,182 shares of the financial services provider’s stock worth $5,040,469,000 after acquiring an additional 548,853 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of JPMorgan Chase & Co. by 5.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 18,441,044 shares of the financial services provider’s stock worth $4,523,588,000 after acquiring an additional 890,553 shares in the last quarter. Finally, Nuveen LLC acquired a new position in shares of JPMorgan Chase & Co. in the first quarter worth $3,972,807,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

Insider Activity

In other news, Director Linda Bammann sold 9,500 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the transaction, the director directly owned 82,207 shares in the company, valued at $24,492,753.58. The trade was a 10.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.47% of the stock is currently owned by company insiders.

JPMorgan Chase & Co. Price Performance

Shares of NYSE:JPM opened at $311.42 on Thursday. The company has a 50-day simple moving average of $295.38 and a 200-day simple moving average of $268.34. JPMorgan Chase & Co. has a one year low of $202.16 and a one year high of $312.91. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.88 and a current ratio of 0.88. The stock has a market capitalization of $856.33 billion, a price-to-earnings ratio of 15.98, a PEG ratio of 2.05 and a beta of 1.13.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, beating analysts’ consensus estimates of $4.48 by $0.48. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The business had revenue of $44.91 billion during the quarter, compared to analysts’ expectations of $43.76 billion. During the same period in the prior year, the company earned $6.12 earnings per share. The business’s revenue was down 10.5% compared to the same quarter last year. On average, analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, October 6th will be paid a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.9%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. The ex-dividend date is Monday, October 6th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 28.73%.

Wall Street Analyst Weigh In

JPM has been the subject of several research reports. Morgan Stanley boosted their price target on shares of JPMorgan Chase & Co. from $296.00 to $298.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 16th. Bank of America lifted their price objective on shares of JPMorgan Chase & Co. from $330.00 to $340.00 and gave the stock a “buy” rating in a research report on Wednesday, July 16th. Baird R W cut shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research report on Friday, June 27th. Wells Fargo & Company lifted their price objective on shares of JPMorgan Chase & Co. from $325.00 to $345.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, Citigroup set a $275.00 price objective on shares of JPMorgan Chase & Co. and gave the stock a “buy” rating in a research report on Monday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, JPMorgan Chase & Co. presently has an average rating of “Moderate Buy” and a consensus price target of $292.78.

JPMorgan Chase & Co. Profile

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.