Grimes & Company Inc. Decreases Stake in JPMorgan Chase & Co. $JPM

Key Points

• Grimes & Company Inc. reduced its stake in JPMorgan Chase & Co. by 3.2%, owning 87,294 shares worth approximately $25.3 million as of the end of the second quarter.
• Several institutional investors have significantly increased their holdings in JPMorgan, with Kingstone Capital Partners Texas LLC growing its position by over 600,000% during the same period.
• JPMorgan Chase & Co. has announced a quarterly dividend increase to $1.50 per share, representing a 7.1% rise from the previous dividend, with an annualized yield of 2.0%.

Grimes & Company Inc. lowered its position in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 3.2% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 87,294 shares of the financial services provider's stock after selling 2,914 shares during the quarter. JPMorgan Chase & Co. comprises approximately 0.7% of Grimes & Company Inc.'s holdings, making the stock its 28th largest holding. Grimes & Company Inc.'s holdings in JPMorgan Chase & Co. were worth $25,307,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of JPM. Kingstone Capital Partners Texas LLC grew its holdings in shares of JPMorgan Chase & Co. by 609,867.5% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 72,897,211 shares of the financial services provider's stock worth $21,133,630,000 after purchasing an additional 72,885,260 shares during the period. Nuveen LLC purchased a new stake in shares of JPMorgan Chase & Co. during the 1st quarter worth about $3,972,807,000. National Bank of Canada FI grew its holdings in shares of JPMorgan Chase & Co. by 44.4% during the 1st quarter. National Bank of Canada FI now owns 4,518,740 shares of the financial services provider's stock worth $1,108,415,000 after purchasing an additional 1,388,992 shares during the period. Strs Ohio purchased a new stake in shares of JPMorgan Chase & Co. during the 1st quarter worth about $279,389,000. Finally, Alecta Tjanstepension Omsesidigt purchased a new stake in shares of JPMorgan Chase & Co. during the 1st quarter worth about $278,493,000. Hedge funds and other institutional investors 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 that occurred on Tuesday, September 2nd. The stock was sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the completion of the transaction, the director directly owned 82,207 shares in the company, valued at approximately $24,492,753.58. This represents a 10.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.47% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Cowen restated a "buy" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, July 16th. Evercore ISI upped their price target on JPMorgan Chase & Co. from $309.00 to $330.00 and gave the stock an "outperform" rating in a report on Tuesday, September 30th. Royal Bank Of Canada restated a "buy" rating on shares of JPMorgan Chase & Co. in a report on Thursday, September 11th. Phillip Securities cut JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a report on Wednesday, July 16th. Finally, The Goldman Sachs Group upped their price target on JPMorgan Chase & Co. from $336.00 to $350.00 and gave the stock a "buy" rating in a report on Friday, October 3rd. Fifteen equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $316.00.

JPMorgan Chase & Co. Stock Performance

JPMorgan Chase & Co. stock opened at $301.12 on Monday. The stock has a market cap of $828.00 billion, a P/E ratio of 15.45, a price-to-earnings-growth ratio of 1.94 and a beta of 1.13. 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 stock has a 50 day moving average of $301.61 and a 200-day moving average of $276.98. JPMorgan Chase & Co. has a 52 week low of $202.16 and a 52 week high of $318.01.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, beating the consensus estimate of $4.48 by $0.48. The company had revenue of $44.91 billion during the quarter, compared to analysts' expectations of $43.76 billion. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.The business's revenue was down 10.5% on a year-over-year basis. During the same period in the prior year, the business posted $6.12 EPS. On average, analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, October 6th will be paid a dividend of $1.50 per share. This is an increase from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. The ex-dividend date is Monday, October 6th. This represents a $6.00 annualized dividend and a dividend yield of 2.0%. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is currently 30.79%.

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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