AustralianSuper Pty Ltd Reduces Position in JPMorgan Chase & Co. $JPM

AustralianSuper Pty Ltd lessened its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 70.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 62,712 shares of the financial services provider’s stock after selling 151,655 shares during the quarter. AustralianSuper Pty Ltd’s holdings in JPMorgan Chase & Co. were worth $18,181,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Harbor Asset Planning Inc. acquired a new stake in JPMorgan Chase & Co. during the 2nd quarter worth $26,000. MJT & Associates Financial Advisory Group Inc. acquired a new stake in shares of JPMorgan Chase & Co. during the first quarter worth about $28,000. University of Illinois Foundation purchased a new stake in shares of JPMorgan Chase & Co. in the 1st quarter valued at about $30,000. Ryan Investment Management Inc. acquired a new stake in shares of JPMorgan Chase & Co. in the 2nd quarter valued at about $37,000. Finally, Christopher J. Hasenberg Inc grew its stake in JPMorgan Chase & Co. by 212.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider’s stock worth $45,000 after buying an additional 106 shares during the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

Insider Buying and Selling at JPMorgan Chase & Co.

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

JPMorgan Chase & Co. Stock Up 0.6%

Shares of NYSE:JPM opened at $313.63 on Friday. The company has a market cap of $862.40 billion, a price-to-earnings ratio of 15.53, a PEG ratio of 1.84 and a beta of 1.14. The firm’s 50-day simple moving average is $305.92 and its 200-day simple moving average is $286.33. The company has a quick ratio of 0.88, a current ratio of 0.86 and a debt-to-equity ratio of 1.26. JPMorgan Chase & Co. has a fifty-two week low of $202.16 and a fifty-two week high of $318.01.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.83 by $0.24. The firm had revenue of $46.43 billion during the quarter, compared to analysts’ expectations of $44.42 billion. JPMorgan Chase & Co. had a net margin of 20.90% and a return on equity of 17.18%. The firm’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same period in the prior year, the company posted $4.37 earnings per share. As a group, equities research analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Monday, October 6th were issued a $1.50 dividend. The ex-dividend date of this dividend was Monday, October 6th. This represents a $6.00 annualized dividend and a dividend yield of 1.9%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. JPMorgan Chase & Co.’s payout ratio is 29.72%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on JPM. Wolfe Research boosted their price objective on JPMorgan Chase & Co. from $342.00 to $346.00 and gave the company an “outperform” rating in a research note on Thursday, October 16th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of JPMorgan Chase & Co. from $300.00 to $320.00 and gave the company a “hold” rating in a report on Tuesday, September 30th. TD Cowen increased their price target on shares of JPMorgan Chase & Co. from $350.00 to $370.00 and gave the stock a “buy” rating in a research note on Friday, October 3rd. Phillip Securities lowered shares of JPMorgan Chase & Co. from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, July 16th. Finally, Royal Bank Of Canada reiterated a “buy” rating and set a $343.00 target price on shares of JPMorgan Chase & Co. in a research note on Tuesday, October 14th. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $326.38.

JPMorgan Chase & Co. Company 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.