State Street Corp Sells 2,230,688 Shares of JPMorgan Chase & Co. $JPM

State Street Corp cut its stake in JPMorgan Chase & Co. (NYSE:JPM) by 1.7% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 125,287,735 shares of the financial services provider’s stock after selling 2,230,688 shares during the period. JPMorgan Chase & Co. accounts for 1.4% of State Street Corp’s portfolio, making the stock its 8th biggest position. State Street Corp’s holdings in JPMorgan Chase & Co. were worth $36,322,167,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Daiwa Securities Group Inc. lifted its position in shares of JPMorgan Chase & Co. by 4.0% in the 2nd quarter. Daiwa Securities Group Inc. now owns 513,265 shares of the financial services provider’s stock worth $148,801,000 after purchasing an additional 19,760 shares during the period. Sentinus LLC increased its position in shares of JPMorgan Chase & Co. by 5.8% during the second quarter. Sentinus LLC now owns 11,024 shares of the financial services provider’s stock worth $3,196,000 after buying an additional 601 shares during the period. Financial Strategies Group Inc. increased its position in shares of JPMorgan Chase & Co. by 4.3% during the second quarter. Financial Strategies Group Inc. now owns 32,043 shares of the financial services provider’s stock worth $9,192,000 after buying an additional 1,313 shares during the period. Acorn Wealth Advisors LLC raised its stake in JPMorgan Chase & Co. by 1.2% during the second quarter. Acorn Wealth Advisors LLC now owns 12,640 shares of the financial services provider’s stock worth $3,664,000 after buying an additional 154 shares during the last quarter. Finally, Gerber Kawasaki Wealth & Investment Management lifted its holdings in JPMorgan Chase & Co. by 9.1% in the second quarter. Gerber Kawasaki Wealth & Investment Management now owns 17,801 shares of the financial services provider’s stock valued at $5,161,000 after buying an additional 1,482 shares during the period. Institutional investors own 71.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on JPM shares. The Goldman Sachs Group decreased their price target on JPMorgan Chase & Co. from $355.00 to $354.00 and set a “buy” rating for the company in a report on Friday, December 5th. DZ Bank reissued a “neutral” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, October 15th. Daiwa Capital Markets upped their target price on JPMorgan Chase & Co. from $330.00 to $332.00 and gave the company an “outperform” rating in a research report on Wednesday, October 8th. Evercore ISI lifted their target price on JPMorgan Chase & Co. from $309.00 to $330.00 and gave the stock an “outperform” rating in a report on Tuesday, September 30th. Finally, Morgan Stanley set a $331.00 price target on JPMorgan Chase & Co. in a research note on Tuesday. Fifteen equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $325.48.

Insider Activity at JPMorgan Chase & Co.

In other news, insider Robin Leopold sold 966 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $311.92, for a total value 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.47% of the stock is currently owned by company insiders.

JPMorgan Chase & Co. Price Performance

Shares of JPM opened at $309.90 on Thursday. The business’s fifty day moving average is $306.40 and its 200 day moving average is $295.85. JPMorgan Chase & Co. has a 12-month low of $202.16 and a 12-month high of $322.25. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.26. The stock has a market cap of $843.62 billion, a P/E ratio of 15.35, a P/E/G ratio of 1.56 and a beta of 1.08.

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

JPMorgan Chase & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, January 31st. Stockholders of record on Tuesday, January 6th will be paid a $1.50 dividend. The ex-dividend date of this dividend is Tuesday, January 6th. This represents a $6.00 annualized dividend and a dividend yield of 1.9%. JPMorgan Chase & Co.’s dividend payout ratio is 29.72%.

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.