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AMI Asset Management Corp Has $1.53 Million Holdings in JPMorgan Chase & Co. $JPM

JPMorgan Chase & Co. logo with Finance background

Key Points

  • AMI Asset Management Corp has reduced its holdings in JPMorgan Chase & Co. by 35.5%, now owning 5,289 shares valued at $1.53 million as of the end of the second quarter.
  • Multiple institutional investors, including LCM Capital Management Inc and jvl associates llc, have either increased or adjusted their stakes in JPMorgan Chase during the same period.
  • JPMorgan Chase recently announced a quarterly dividend increase to $1.50 per share, representing a 2.0% yield, with a payout ratio of 30.79%.
  • MarketBeat previews the top five stocks to own by November 1st.

AMI Asset Management Corp lessened its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 35.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,289 shares of the financial services provider's stock after selling 2,913 shares during the period. AMI Asset Management Corp's holdings in JPMorgan Chase & Co. were worth $1,533,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in JPM. LCM Capital Management Inc increased its stake in JPMorgan Chase & Co. by 0.9% in the 2nd quarter. LCM Capital Management Inc now owns 3,847 shares of the financial services provider's stock valued at $1,115,000 after buying an additional 36 shares during the last quarter. jvl associates llc increased its stake in JPMorgan Chase & Co. by 1.7% in the 2nd quarter. jvl associates llc now owns 2,094 shares of the financial services provider's stock valued at $607,000 after buying an additional 36 shares during the last quarter. Lakeshore Financial Planning Inc. increased its stake in JPMorgan Chase & Co. by 0.4% in the 2nd quarter. Lakeshore Financial Planning Inc. now owns 8,417 shares of the financial services provider's stock valued at $2,441,000 after buying an additional 37 shares during the last quarter. Western Financial Corp CA increased its stake in JPMorgan Chase & Co. by 1.5% in the 2nd quarter. Western Financial Corp CA now owns 2,642 shares of the financial services provider's stock valued at $766,000 after buying an additional 38 shares during the last quarter. Finally, First Command Advisory Services Inc. increased its stake in JPMorgan Chase & Co. by 0.4% in the 1st quarter. First Command Advisory Services Inc. now owns 9,306 shares of the financial services provider's stock valued at $2,283,000 after buying an additional 40 shares during the last quarter. Institutional investors and hedge funds own 71.55% of the company's stock.

Wall Street Analyst Weigh In

JPM has been the subject of several analyst reports. Hsbc Global Res lowered shares of JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research note on Tuesday, July 8th. HSBC reissued a "reduce" rating and set a $259.00 target price on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 8th. The Goldman Sachs Group increased their target price on shares of JPMorgan Chase & Co. from $336.00 to $350.00 and gave the company a "buy" rating in a research report on Friday, October 3rd. Phillip Securities downgraded shares of JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, July 16th. Finally, Wells Fargo & Company increased their target price on shares of JPMorgan Chase & Co. from $325.00 to $345.00 and gave the company an "overweight" rating in a research report on Tuesday, September 16th. Fifteen analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, JPMorgan Chase & Co. has a consensus rating of "Hold" and a consensus target price of $309.95.

Get Our Latest Analysis on JPMorgan Chase & Co.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the company's stock in a transaction dated 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 sale, the director owned 82,207 shares in the company, valued at approximately $24,492,753.58. This represents a 10.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Stock Down 1.1%

Shares of NYSE:JPM opened at $304.31 on Thursday. JPMorgan Chase & Co. has a one year low of $202.16 and a one year high of $318.01. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.88. The company has a market cap of $836.78 billion, a price-to-earnings ratio of 15.61, a PEG ratio of 1.99 and a beta of 1.13. The firm has a fifty day moving average price of $301.19 and a two-hundred day moving average price of $275.87.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share for the quarter, topping the consensus estimate of $4.48 by $0.48. The business had revenue of $44.91 billion during the quarter, compared to the consensus estimate of $43.76 billion. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The firm's revenue for the quarter was down 10.5% on a year-over-year basis. During the same period in the previous year, the firm posted $6.12 earnings per share. Analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, October 6th will be given a dividend of $1.50 per share. This is an increase from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. This represents a $6.00 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Monday, October 6th. JPMorgan Chase & Co.'s dividend payout ratio is presently 30.79%.

JPMorgan Chase & Co. Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding JPM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for JPMorgan Chase & Co. (NYSE:JPM - Free Report).

Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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