Cigna Investments Inc. New Has $7.93 Million Holdings in JPMorgan Chase & Co. $JPM

Key Points

• Cigna Investments Inc. New has reduced its holdings in JPMorgan Chase & Co. by 3.3%, now owning 27,360 shares valued at approximately $7.93 million.
• JPMorgan Chase & Co. recently announced a quarterly dividend of $1.50 per share, raising its annualized yield to 1.9% from the previous $1.40.
• The company reported $4.96 EPS for the last quarter, exceeding analysts' expectations, despite a 10.5% decline in revenue from the same period last year.

Cigna Investments Inc. New lessened its position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 3.3% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 27,360 shares of the financial services provider's stock after selling 920 shares during the period. JPMorgan Chase & Co. makes up about 1.3% of Cigna Investments Inc. New's holdings, making the stock its 12th largest position. Cigna Investments Inc. New's holdings in JPMorgan Chase & Co. were worth $7,932,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Florida Financial Advisors LLC lifted its holdings in JPMorgan Chase & Co. by 62.5% during the first quarter. Florida Financial Advisors LLC now owns 9,863 shares of the financial services provider's stock worth $2,416,000 after acquiring an additional 3,792 shares during the period. Crown Wealth Group LLC raised its stake in shares of JPMorgan Chase & Co. by 5.4% in the first quarter. Crown Wealth Group LLC now owns 4,320 shares of the financial services provider's stock valued at $1,060,000 after buying an additional 222 shares during the period. Mosaic Financial Group LLC raised its stake in shares of JPMorgan Chase & Co. by 0.8% in the first quarter. Mosaic Financial Group LLC now owns 9,296 shares of the financial services provider's stock valued at $2,280,000 after buying an additional 78 shares during the period. Morse Asset Management Inc raised its stake in shares of JPMorgan Chase & Co. by 19.5% in the first quarter. Morse Asset Management Inc now owns 2,569 shares of the financial services provider's stock valued at $630,000 after buying an additional 420 shares during the period. Finally, Hidden Cove Wealth Management LLC raised its stake in shares of JPMorgan Chase & Co. by 4.2% in the first quarter. Hidden Cove Wealth Management LLC now owns 2,758 shares of the financial services provider's stock valued at $677,000 after buying an additional 112 shares during the period. Hedge funds and other institutional investors own 71.55% of the company's stock.

JPMorgan Chase & Co. Trading Up 0.9%

Shares of NYSE JPM opened at $316.12 on Friday. JPMorgan Chase & Co. has a 1-year low of $202.16 and a 1-year high of $317.81. The business's 50 day moving average is $298.96 and its two-hundred day moving average is $271.68. The stock has a market capitalization of $869.25 billion, a P/E ratio of 16.22, a PEG ratio of 2.07 and a beta of 1.13. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.88.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced 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. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.The business had revenue of $44.91 billion during the quarter, compared to analyst estimates of $43.76 billion. During the same quarter in the previous year, the business earned $6.12 earnings per share. The company's revenue for the quarter was down 10.5% compared to the same quarter last year. As a group, research analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, October 6th will be given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 1.9%. This is a boost from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. The ex-dividend date is Monday, October 6th. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is presently 28.73%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Hsbc Global Res cut JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research report on Tuesday, July 8th. HSBC reiterated a "reduce" rating and set a $259.00 target price on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 8th. Morgan Stanley raised their price target on JPMorgan Chase & Co. from $296.00 to $298.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 16th. Citigroup raised their target price on JPMorgan Chase & Co. from $275.00 to $325.00 and gave the stock a "neutral" rating in a report on Wednesday. Finally, Wells Fargo & Company raised their price target on JPMorgan Chase & Co. from $325.00 to $345.00 and gave the company an "overweight" rating in a report on Tuesday, September 16th. Thirteen analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $297.17.

Insider Activity

In related news, Director Linda Bammann sold 9,500 shares of the business'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 value of $2,830,430.00. Following the completion of the sale, the director owned 82,207 shares in the company, valued at approximately $24,492,753.58. The trade was a 10.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.47% of the company's stock.

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.

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