Guardian Investment Management Cuts Position in JPMorgan Chase & Co. $JPM

Key Points

• Guardian Investment Management reduced its stake in JPMorgan Chase & Co. by 36.2%, resulting in ownership of 8,449 shares valued at approximately $2.45 million as of the end of the last quarter.
• Brokerages have shown mixed recommendations on JPMorgan Chase; while Bank of America raised its target price to $340.00 with a "buy" rating, HSBC downgraded the stock to "moderate sell."
• JPMorgan Chase has announced an increase in its quarterly dividend to $1.50, representing a yield of 2.0%, reflecting its consistent commitment to return value to shareholders.

Guardian Investment Management trimmed its position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 36.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,449 shares of the financial services provider's stock after selling 4,800 shares during the quarter. JPMorgan Chase & Co. accounts for approximately 2.4% of Guardian Investment Management's portfolio, making the stock its 11th largest holding. Guardian Investment Management's holdings in JPMorgan Chase & Co. were worth $2,449,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Clay Northam Wealth Management LLC raised its holdings in shares of JPMorgan Chase & Co. by 1.7% in the 2nd quarter. Clay Northam Wealth Management LLC now owns 2,437 shares of the financial services provider's stock worth $707,000 after purchasing an additional 40 shares during the period. Worth Financial Advisory Group LLC raised its holdings in shares of JPMorgan Chase & Co. by 0.4% in the 2nd quarter. Worth Financial Advisory Group LLC now owns 17,488 shares of the financial services provider's stock worth $5,070,000 after purchasing an additional 72 shares during the period. Willow Creek Wealth Management Inc. raised its holdings in shares of JPMorgan Chase & Co. by 2.1% in the 2nd quarter. Willow Creek Wealth Management Inc. now owns 3,475 shares of the financial services provider's stock worth $1,008,000 after purchasing an additional 71 shares during the period. Avior Wealth Management LLC raised its holdings in shares of JPMorgan Chase & Co. by 0.9% in the 2nd quarter. Avior Wealth Management LLC now owns 38,484 shares of the financial services provider's stock worth $11,157,000 after purchasing an additional 329 shares during the period. Finally, XY Planning Network Inc. purchased a new position in shares of JPMorgan Chase & Co. in the 2nd quarter worth about $656,000. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on JPM. Morgan Stanley raised their target price on JPMorgan Chase & Co. from $298.00 to $336.00 and gave the company an "equal weight" rating in a report on Monday. Keefe, Bruyette & Woods raised their target price on JPMorgan Chase & Co. from $327.00 to $330.00 and gave the company an "outperform" rating in a report on Wednesday, July 16th. Hsbc Global Res downgraded JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a report on Tuesday, July 8th. Phillip Securities downgraded JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a report on Wednesday, July 16th. Finally, Bank of America raised their target price on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. Thirteen investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. currently has an average rating of "Hold" and a consensus target price of $303.45.

JPMorgan Chase & Co. Price Performance

Shares of NYSE JPM opened at $307.65 on Friday. JPMorgan Chase & Co. has a fifty-two week low of $202.16 and a fifty-two week high of $318.01. The business has a 50 day moving average price of $300.44 and a two-hundred day moving average price of $273.96. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.25. The firm has a market cap of $845.96 billion, a PE ratio of 15.79, a price-to-earnings-growth ratio of 2.05 and a beta of 1.13.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share for the quarter, beating analysts' consensus estimates of $4.48 by $0.48. The firm had revenue of $44.91 billion during the quarter, compared to analyst estimates of $43.76 billion. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.JPMorgan Chase & Co.'s quarterly revenue was down 10.5% on a year-over-year basis. During the same quarter last year, the firm earned $6.12 EPS. Sell-side analysts expect 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 announced 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 represents a $6.00 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Monday, October 6th. This is a positive change from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. JPMorgan Chase & Co.'s payout ratio is 28.73%.

Insider Activity at JPMorgan Chase & Co.

In other news, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction that occurred 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 transaction, the director owned 82,207 shares in the company, valued at approximately $24,492,753.58. This trade represents a 10.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.47% of the company's stock.

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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