Greenleaf Trust Sells 19,280 Shares of JPMorgan Chase & Co. $JPM

Key Points

• Greenleaf Trust has reduced its stake in JPMorgan Chase & Co. by 14.3%, selling 19,280 shares and now holds 115,294 shares, which constitutes approximately 0.3% of its investment portfolio.
• JPMorgan Chase & Co. announced an increased quarterly dividend of $1.50 per share, which will be paid out on October 31st, marking a rise from the previous dividend of $1.40.
• Institutional investors currently own 71.55% of JPMorgan Chase & Co.'s stock, indicating strong institutional interest in the financial services provider.

Greenleaf Trust decreased its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 14.3% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 115,294 shares of the financial services provider's stock after selling 19,280 shares during the quarter. JPMorgan Chase & Co. comprises approximately 0.3% of Greenleaf Trust's investment portfolio, making the stock its 24th largest position. Greenleaf Trust's holdings in JPMorgan Chase & Co. were worth $33,425,000 at the end of the most recent reporting period.

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

JPMorgan Chase & Co. Stock Performance

NYSE JPM opened at $309.89 on Monday. The company has a fifty day simple moving average of $300.67 and a 200 day simple moving average of $274.97. 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. The company has a market cap of $852.11 billion, a P/E ratio of 15.90, a PEG ratio of 2.04 and a beta of 1.13.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its quarterly 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 business had revenue of $44.91 billion during the quarter, compared to the consensus estimate of $43.76 billion. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. JPMorgan Chase & Co.'s revenue was down 10.5% compared to the same quarter last year. During the same quarter last year, the firm posted $6.12 EPS. Sell-side analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share 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. Shareholders of record on Monday, October 6th will be issued a dividend of $1.50 per share. The ex-dividend date of this dividend is Monday, October 6th. This represents a $6.00 dividend on an annualized basis and a yield of 1.9%. This is a positive change from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. JPMorgan Chase & Co.'s payout ratio is presently 28.73%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. 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. Citigroup lifted their price objective on shares of JPMorgan Chase & Co. from $275.00 to $325.00 and gave the company a "neutral" rating in a research note on Wednesday, September 24th. Morgan Stanley lifted their price objective on shares of JPMorgan Chase & Co. from $298.00 to $336.00 and gave the company an "equal weight" rating in a research note on Monday, September 29th. Royal Bank Of Canada reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Thursday, September 11th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of JPMorgan Chase & Co. from $300.00 to $320.00 and gave the company a "hold" rating in a research note on Tuesday, September 30th. Fifteen research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $307.70.

Insider Transactions at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction on 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 transaction, the director directly owned 82,207 shares of the company's stock, valued at $24,492,753.58. The trade was a 10.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.47% of the stock is owned by corporate insiders.

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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