Folger Nolan Fleming Douglas Capital Management Inc. Sells 1,813 Shares of JPMorgan Chase & Co. $JPM

Key Points

• Folger Nolan Fleming Douglas Capital Management Inc. reduced its holdings in JPMorgan Chase & Co. by selling 1,813 shares, bringing its total ownership to 80,867 shares, valued at approximately $23.44 million.
• JPMorgan Chase recently reported earnings of $5.07 per share for the last quarter, exceeding analysts' expectations and achieving a revenue of $46.43 billion, marking an 8.8% year-over-year increase.
• The company declared a quarterly dividend of $1.50 per share, which is an increase from the previous $1.40, with a dividend yield of 2.0% and a payout ratio of 29.72%.

Folger Nolan Fleming Douglas Capital Management Inc. lowered its position in JPMorgan Chase & Co. (NYSE:JPM) by 2.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 80,867 shares of the financial services provider's stock after selling 1,813 shares during the quarter. JPMorgan Chase & Co. accounts for 2.6% of Folger Nolan Fleming Douglas Capital Management Inc.'s investment portfolio, making the stock its 7th biggest position. Folger Nolan Fleming Douglas Capital Management Inc.'s holdings in JPMorgan Chase & Co. were worth $23,444,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. MJT & Associates Financial Advisory Group Inc. acquired a new position in JPMorgan Chase & Co. in the first quarter valued at $28,000. University of Illinois Foundation acquired a new position in JPMorgan Chase & Co. in the first quarter valued at $30,000. Ryan Investment Management Inc. acquired a new position in JPMorgan Chase & Co. in the second quarter valued at $37,000. Christopher J. Hasenberg Inc boosted its holdings in JPMorgan Chase & Co. by 212.0% in the second quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider's stock valued at $45,000 after acquiring an additional 106 shares during the last quarter. Finally, Goodman Advisory Group LLC acquired a new position in JPMorgan Chase & Co. in the first quarter valued at $76,000. Institutional investors and hedge funds own 71.55% of the company's stock.

Insider Activity at JPMorgan Chase & Co.

In other news, Director Linda Bammann sold 9,500 shares of the stock in a transaction 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 $24,492,753.58. This represents a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Stock Up 1.6%

NYSE:JPM opened at $302.33 on Tuesday. The firm has a market capitalization of $831.32 billion, a PE ratio of 14.97, a price-to-earnings-growth ratio of 1.80 and a beta of 1.13. The stock has a 50 day moving average of $303.07 and a 200-day moving average of $279.76. JPMorgan Chase & Co. has a 52 week low of $202.16 and a 52 week high of $318.01. 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. (NYSE:JPM - Get Free Report) last issued its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.83 by $0.24. The business had revenue of $46.43 billion during the quarter, compared to analyst estimates of $44.42 billion. JPMorgan Chase & Co. had a return on equity of 17.18% and a net margin of 20.90%.The business's revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period in the prior year, the company posted $4.37 EPS. Analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The business 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 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 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 currently 29.72%.

Analyst Ratings Changes

A number of research analysts have commented on the company. Keefe, Bruyette & Woods boosted their price objective on JPMorgan Chase & Co. from $330.00 to $354.00 and gave the stock an "outperform" rating in a research note on Friday, October 10th. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $366.00 target price on shares of JPMorgan Chase & Co. in a research report on Tuesday, October 14th. HSBC reaffirmed a "reduce" rating and issued a $259.00 target price on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 8th. Wolfe Research upped their target price on JPMorgan Chase & Co. from $342.00 to $346.00 and gave the stock an "outperform" rating in a research report on Thursday, October 16th. Finally, Barclays upped their target price on JPMorgan Chase & Co. from $330.00 to $342.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 15th. Fifteen investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, JPMorgan Chase & Co. currently has a consensus rating of "Hold" and a consensus price target of $322.86.

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.

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