Glass Wealth Management Co LLC Sells 174 Shares of JPMorgan Chase & Co. $JPM

Glass Wealth Management Co LLC trimmed its position in JPMorgan Chase & Co. (NYSE:JPM) by 4.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,353 shares of the financial services provider’s stock after selling 174 shares during the period. Glass Wealth Management Co LLC’s holdings in JPMorgan Chase & Co. were worth $972,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. MJT & Associates Financial Advisory Group Inc. bought a new stake in JPMorgan Chase & Co. in the 1st quarter valued at about $28,000. University of Illinois Foundation bought a new stake in JPMorgan Chase & Co. in the 1st quarter valued at about $30,000. Ryan Investment Management Inc. bought a new stake in JPMorgan Chase & Co. in the 2nd quarter valued at about $37,000. Christopher J. Hasenberg Inc increased its position in JPMorgan Chase & Co. by 212.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider’s stock valued at $45,000 after buying an additional 106 shares in the last quarter. Finally, Goodman Advisory Group LLC bought a new stake in JPMorgan Chase & Co. in the 1st quarter valued at about $76,000. 71.55% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Linda Bammann sold 9,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total value of $2,830,430.00. Following the completion of 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.47% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on JPM. Bank of America upped their price target on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the stock a “buy” rating in a report on Wednesday, July 16th. The Goldman Sachs Group upped their target price on JPMorgan Chase & Co. from $336.00 to $350.00 and gave the company a “buy” rating in a report on Friday, October 3rd. Morgan Stanley upped their target price on JPMorgan Chase & Co. from $298.00 to $336.00 and gave the company an “equal weight” rating in a report on Monday, September 29th. Keefe, Bruyette & Woods increased their target price on JPMorgan Chase & Co. from $330.00 to $354.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, Cowen restated a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, July 16th. Fifteen investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $316.00.

JPMorgan Chase & Co. Price Performance

JPM stock opened at $301.12 on Monday. The firm has a 50 day moving average price of $301.61 and a 200-day moving average price of $276.98. JPMorgan Chase & Co. has a 52-week low of $202.16 and a 52-week high of $318.01. The firm has a market capitalization of $828.00 billion, a price-to-earnings ratio of 15.45, a PEG ratio of 1.94 and a beta of 1.13. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.88 and a current ratio of 0.88.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $44.91 billion during the quarter, compared to analyst estimates of $43.76 billion. During the same period last year, the business earned $6.12 earnings per share. The business’s revenue was down 10.5% on a year-over-year basis. Equities research analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, October 6th will be issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Monday, October 6th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 30.79%.

About JPMorgan Chase & Co.

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.