Generali Asset Management SPA SGR Sells 40,331 Shares of JPMorgan Chase & Co. $JPM

Key Points

• Generali Asset Management SPA SGR sold 40,331 shares of JPMorgan Chase & Co., reducing its holdings by 18.3% to 179,815 shares.
• JPMorgan Chase & Co. reported earnings of $5.07 per share for the quarter, surpassing estimates by $0.24, with revenue up 8.8% year-over-year.
• The company announced an increase in its quarterly dividend from $1.40 to $1.50 per share, highlighting a 2.0% yield and a payout ratio of 29.72%.

Generali Asset Management SPA SGR reduced its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 18.3% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 179,815 shares of the financial services provider's stock after selling 40,331 shares during the quarter. JPMorgan Chase & Co. makes up about 1.2% of Generali Asset Management SPA SGR's holdings, making the stock its 16th biggest holding. Generali Asset Management SPA SGR's holdings in JPMorgan Chase & Co. were worth $52,130,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. MJT & Associates Financial Advisory Group Inc. bought a new stake in JPMorgan Chase & Co. during the 1st quarter valued at $28,000. University of Illinois Foundation bought a new stake in JPMorgan Chase & Co. during the 1st quarter valued at $30,000. Ryan Investment Management Inc. bought a new stake in JPMorgan Chase & Co. during the 2nd quarter valued at $37,000. Christopher J. Hasenberg Inc raised its holdings in JPMorgan Chase & Co. by 212.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider's stock valued at $45,000 after buying an additional 106 shares during the last quarter. Finally, Goodman Advisory Group LLC bought a new stake in JPMorgan Chase & Co. during the 1st quarter valued at $76,000. 71.55% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Linda Bammann sold 9,500 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the sale, the director directly owned 82,207 shares of the company's stock, valued at approximately $24,492,753.58. This represents a 10.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.47% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on JPM shares. Wells Fargo & Company upped their price target on shares of JPMorgan Chase & Co. from $325.00 to $345.00 and gave the company an "overweight" rating in a report on Tuesday, September 16th. Weiss Ratings raised shares of JPMorgan Chase & Co. from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Saturday. Royal Bank Of Canada restated a "buy" rating and issued a $343.00 price objective on shares of JPMorgan Chase & Co. in a report on Tuesday, October 14th. Bank of America lifted their target price on shares of JPMorgan Chase & Co. from $330.00 to $340.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Finally, 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. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $322.27.

JPMorgan Chase & Co. Stock Up 1.9%

NYSE:JPM opened at $300.27 on Friday. The firm's 50-day moving average price is $303.43 and its 200-day moving average price is $281.56. The company has a market capitalization of $825.66 billion, a PE ratio of 14.87, a P/E/G ratio of 1.81 and a beta of 1.13. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.86 and a quick ratio of 0.88. JPMorgan Chase & Co. has a 1-year low of $202.16 and a 1-year high of $318.01.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its earnings results on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share for the quarter, topping analysts' consensus estimates of $4.83 by $0.24. The firm had revenue of $46.43 billion for the quarter, compared to the consensus estimate of $44.42 billion. JPMorgan Chase & Co. had a net margin of 20.90% and a return on equity of 17.18%. The company's revenue was up 8.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.37 EPS. 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. Investors of record on Monday, October 6th will be given a dividend of $1.50 per share. This is a positive change 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 payout ratio is currently 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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