Virtue Capital Management LLC Trims Stake in JPMorgan Chase & Co. $JPM

Virtue Capital Management LLC lowered its position in JPMorgan Chase & Co. (NYSE:JPM) by 18.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,999 shares of the financial services provider’s stock after selling 2,014 shares during the period. Virtue Capital Management LLC’s holdings in JPMorgan Chase & Co. were worth $2,609,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Kingstone Capital Partners Texas LLC grew its position in JPMorgan Chase & Co. by 609,867.5% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 72,897,211 shares of the financial services provider’s stock valued at $21,133,630,000 after acquiring an additional 72,885,260 shares during the last quarter. Laurel Wealth Advisors LLC boosted its stake in shares of JPMorgan Chase & Co. by 28,813.7% during the second quarter. Laurel Wealth Advisors LLC now owns 16,785,584 shares of the financial services provider’s stock valued at $4,866,309,000 after purchasing an additional 16,727,530 shares during the period. Nuveen LLC bought a new position in shares of JPMorgan Chase & Co. in the first quarter worth about $3,972,807,000. Montrusco Bolton Investments Inc. purchased a new position in JPMorgan Chase & Co. in the 2nd quarter worth about $485,802,000. Finally, International Assets Investment Management LLC purchased a new position in JPMorgan Chase & Co. in the 2nd quarter worth about $458,104,000. Institutional investors own 71.55% of the company’s stock.

Insider Activity

In other news, insider Robin Leopold sold 966 shares of the company’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $311.92, for a total transaction of $301,314.72. Following the transaction, the insider directly owned 58,479 shares of the company’s stock, valued at approximately $18,240,769.68. This represents a 1.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.47% of the company’s stock.

JPMorgan Chase & Co. Price Performance

Shares of JPM stock opened at $312.07 on Thursday. The stock’s 50-day moving average is $306.70 and its 200 day moving average is $294.15. JPMorgan Chase & Co. has a 1-year low of $202.16 and a 1-year high of $322.25. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.86 and a quick ratio of 0.86. The company has a market cap of $849.54 billion, a P/E ratio of 15.46, a PEG ratio of 1.60 and a beta of 1.08.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share for the quarter, beating analysts’ consensus estimates of $4.83 by $0.24. The business had revenue of $47.12 billion for 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 company’s revenue was up 8.8% compared to the same quarter last year. During the same period last year, the business earned $4.37 EPS. Research analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

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

Analysts Set New Price Targets

Several equities research analysts have issued reports on JPM shares. Evercore ISI boosted their price objective on shares of JPMorgan Chase & Co. from $309.00 to $330.00 and gave the company an “outperform” rating in a research report on Tuesday, September 30th. Barclays lifted their price target on shares of JPMorgan Chase & Co. from $330.00 to $342.00 and gave the company an “overweight” rating in a research note on Wednesday, October 15th. Wells Fargo & Company raised their price objective on JPMorgan Chase & Co. from $345.00 to $350.00 and gave the stock an “overweight” rating in a report on Monday, November 3rd. Zacks Research cut JPMorgan Chase & Co. from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 18th. Finally, DZ Bank reissued a “neutral” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, October 15th. Fifteen equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, JPMorgan Chase & Co. presently has an average rating of “Hold” and a consensus price target of $326.38.

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.