Dock Street Asset Management Inc. Has $1.02 Million Position in JPMorgan Chase & Co. $JPM

Key Points

• Dock Street Asset Management Inc. has significantly reduced its holdings in JPMorgan Chase & Co. by 81% during Q2, now owning 3,505 shares valued at approximately $1.02 million.
• JPMorgan's recent quarterly earnings showed an EPS of $5.07, beating estimates, with a revenue of $46.43 billion marking an 8.8% year-over-year increase.
• The company has increased its quarterly dividend from $1.40 to $1.50, reflecting a strong dividend yield of 2.0% and a payout ratio of 29.72%.

Dock Street Asset Management Inc. reduced its holdings in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 81.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,505 shares of the financial services provider's stock after selling 14,941 shares during the period. JPMorgan Chase & Co. makes up about 0.1% of Dock Street Asset Management Inc.'s investment portfolio, making the stock its 29th biggest position. Dock Street Asset Management Inc.'s holdings in JPMorgan Chase & Co. were worth $1,016,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of JPM. Brighton Jones LLC raised its holdings in 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 purchasing an additional 4,841 shares during the period. GAMMA Investing LLC raised its holdings in JPMorgan Chase & Co. by 5.8% in the first quarter. GAMMA Investing LLC now owns 96,029 shares of the financial services provider's stock worth $23,556,000 after purchasing an additional 5,296 shares during the period. Ironwood Wealth Management LLC. raised its holdings in JPMorgan Chase & Co. by 0.7% in the first quarter. Ironwood Wealth Management LLC. now owns 15,400 shares of the financial services provider's stock worth $3,778,000 after purchasing an additional 107 shares during the period. Acorns Advisers LLC raised its holdings in JPMorgan Chase & Co. by 6.9% in the first quarter. Acorns Advisers LLC now owns 1,547 shares of the financial services provider's stock worth $379,000 after purchasing an additional 100 shares during the period. Finally, GHP Investment Advisors Inc. raised its holdings in JPMorgan Chase & Co. by 1.8% in the first quarter. GHP Investment Advisors Inc. now owns 94,432 shares of the financial services provider's stock worth $23,164,000 after purchasing an additional 1,676 shares during the period. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at JPMorgan Chase & Co.

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

Wall Street Analysts Forecast Growth

Several research firms have weighed in on JPM. Morgan Stanley increased their target price on shares of JPMorgan Chase & Co. from $336.00 to $338.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 15th. Bank of America increased their target price on shares of JPMorgan Chase & Co. from $330.00 to $340.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th. Daiwa Capital Markets increased their target price on shares of JPMorgan Chase & Co. from $330.00 to $332.00 and gave the stock an "outperform" rating in a report on Wednesday, October 8th. UBS Group raised their price objective on shares of JPMorgan Chase & Co. from $339.00 to $350.00 and gave the stock a "buy" rating in a report on Tuesday, October 7th. Finally, Royal Bank Of Canada restated a "buy" rating and set a $343.00 price objective on shares of JPMorgan Chase & Co. in a report on Tuesday, October 14th. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $322.27.

JPMorgan Chase & Co. Stock Up 1.9%

Shares of JPM stock opened at $300.27 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. JPMorgan Chase & Co. has a 1 year low of $202.16 and a 1 year high of $318.01. The firm's fifty day moving average price is $303.43 and its two-hundred day moving average price is $281.56. The firm has a market capitalization of $825.66 billion, a P/E ratio of 14.87, a PEG ratio of 1.81 and a beta of 1.13.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $5.07 EPS for the quarter, beating analysts' consensus estimates 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 $46.43 billion during the quarter, compared to the consensus estimate of $44.42 billion. During the same quarter last year, the firm posted $4.37 EPS. The company's quarterly revenue was up 8.8% on a year-over-year basis. On average, equities analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, October 6th will be given a $1.50 dividend. 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 dividend on an annualized basis and a dividend yield of 2.0%. JPMorgan Chase & Co.'s payout ratio is 29.72%.

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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