Verity & Verity LLC Trims Stake in JPMorgan Chase & Co. $JPM

Verity & Verity LLC lessened its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 1.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 124,040 shares of the financial services provider’s stock after selling 2,051 shares during the quarter. JPMorgan Chase & Co. makes up about 3.1% of Verity & Verity LLC’s investment portfolio, making the stock its 3rd largest holding. Verity & Verity LLC’s holdings in JPMorgan Chase & Co. were worth $35,960,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. JFS Wealth Advisors LLC lifted its holdings in JPMorgan Chase & Co. by 0.4% in the second quarter. JFS Wealth Advisors LLC now owns 7,897 shares of the financial services provider’s stock worth $2,290,000 after acquiring an additional 35 shares during the last quarter. Cottonwood Capital Advisors LLC raised its position in shares of JPMorgan Chase & Co. by 0.9% during the 2nd quarter. Cottonwood Capital Advisors LLC now owns 3,837 shares of the financial services provider’s stock worth $1,112,000 after purchasing an additional 35 shares during the period. Coign Capital Advisors LLC raised its position in shares of JPMorgan Chase & Co. by 1.2% during the 2nd quarter. Coign Capital Advisors LLC now owns 2,854 shares of the financial services provider’s stock worth $827,000 after purchasing an additional 35 shares during the period. Rialto Wealth Management LLC lifted its holdings in shares of JPMorgan Chase & Co. by 3.9% in the 2nd quarter. Rialto Wealth Management LLC now owns 929 shares of the financial services provider’s stock worth $269,000 after purchasing an additional 35 shares during the last quarter. Finally, Breed s Hill Capital LLC lifted its holdings in shares of JPMorgan Chase & Co. by 0.8% in the 2nd quarter. Breed s Hill Capital LLC now owns 4,642 shares of the financial services provider’s stock worth $1,346,000 after purchasing an additional 35 shares during the last quarter. Institutional investors own 71.55% of the company’s stock.

Wall Street Analysts Forecast Growth

JPM has been the subject of a number of recent research reports. DZ Bank restated a “neutral” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, October 15th. Dbs Bank raised shares of JPMorgan Chase & Co. to a “hold” rating in a report on Tuesday, October 21st. Wells Fargo & Company upped their price target on shares of JPMorgan Chase & Co. from $345.00 to $350.00 and gave the stock an “overweight” rating in a research report on Monday, November 3rd. Zacks Research cut shares of JPMorgan Chase & Co. from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 18th. Finally, Weiss Ratings reiterated a “buy (b+)” rating on shares of JPMorgan Chase & Co. in a research report on Monday. Fifteen investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $326.38.

JPMorgan Chase & Co. Price Performance

Shares of JPM opened at $307.84 on Wednesday. JPMorgan Chase & Co. has a one year low of $202.16 and a one year high of $322.25. The stock’s fifty day moving average is $306.73 and its 200-day moving average is $294.02. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.86. The firm has a market capitalization of $838.02 billion, a price-to-earnings ratio of 15.25, a price-to-earnings-growth ratio of 1.84 and a beta of 1.14.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share for the quarter, topping the consensus estimate of $4.83 by $0.24. The business had revenue of $47.12 billion during the quarter, compared to the consensus estimate of $44.42 billion. JPMorgan Chase & Co. had a net margin of 20.90% and a return on equity of 17.18%. The company’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.37 earnings per share. Equities analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Monday, October 6th were paid a $1.50 dividend. The ex-dividend date of this dividend was Monday, October 6th. This represents a $6.00 dividend on an annualized basis 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 dividend payout ratio (DPR) is currently 29.72%.

Insider Activity

In related news, insider Robin Leopold sold 966 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $311.92, for a total transaction of $301,314.72. Following the transaction, the insider owned 58,479 shares in the company, valued at $18,240,769.68. This trade represents a 1.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.47% of the stock is owned by company insiders.

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.