Apexium Financial LP Cuts Stake in JPMorgan Chase & Co. $JPM

Apexium Financial LP reduced its stake in JPMorgan Chase & Co. (NYSE:JPM) by 19.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 37,832 shares of the financial services provider's stock after selling 8,960 shares during the period. Apexium Financial LP's holdings in JPMorgan Chase & Co. were worth $10,968,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of JPM. Brighton Jones LLC grew its stake in shares of JPMorgan Chase & Co. by 11.0% in the fourth quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider's stock worth $11,682,000 after acquiring an additional 4,841 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of JPMorgan Chase & Co. by 5.8% during the first quarter. GAMMA Investing LLC now owns 96,029 shares of the financial services provider's stock valued at $23,556,000 after buying an additional 5,296 shares during the last quarter. Foresight Capital Management Advisors Inc. purchased a new stake in shares of JPMorgan Chase & Co. during the first quarter valued at $435,000. Donaldson Capital Management LLC boosted its position in shares of JPMorgan Chase & Co. by 0.8% during the first quarter. Donaldson Capital Management LLC now owns 344,604 shares of the financial services provider's stock valued at $84,531,000 after buying an additional 2,580 shares during the last quarter. Finally, Focus Financial Network Inc. boosted its position in shares of JPMorgan Chase & Co. by 0.7% during the first quarter. Focus Financial Network Inc. now owns 34,971 shares of the financial services provider's stock valued at $8,578,000 after buying an additional 234 shares during the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on JPM shares. Cowen reaffirmed a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, July 16th. Evercore ISI increased their price objective on JPMorgan Chase & Co. from $309.00 to $330.00 and gave the company an "outperform" rating in a research report on Tuesday, September 30th. Royal Bank Of Canada reaffirmed a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Thursday, September 11th. HSBC reaffirmed a "reduce" rating and set a $259.00 price objective on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 8th. Finally, TD Cowen increased their price objective on JPMorgan Chase & Co. from $350.00 to $370.00 and gave the company a "buy" rating in a research report on Friday, October 3rd. Fourteen research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, JPMorgan Chase & Co. currently has an average rating of "Hold" and an average target price of $313.89.

JPMorgan Chase & Co. Stock Down 1.4%

Shares of JPM opened at $301.12 on Friday. The business's 50 day moving average is $301.61 and its 200 day moving average is $276.60. The company has a market capitalization of $828.00 billion, a PE ratio of 15.45, a price-to-earnings-growth ratio of 1.97 and a beta of 1.13. JPMorgan Chase & Co. has a 12-month low of $202.16 and a 12-month high of $318.01. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.25.

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

JPMorgan Chase & Co. Increases Dividend

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

Insider Transactions at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the director owned 82,207 shares in the company, valued at $24,492,753.58. This trade represents a 10.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.47% of the company's stock.

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.

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