Integrated Capital Management LLC Sells 6,970 Shares of JPMorgan Chase & Co. $JPM

Key Points

• Integrated Capital Management LLC reduced its holdings in JPMorgan Chase & Co. by 80%, owning only 1,742 shares after selling 6,970 shares in the second quarter, valued at $507,000.
• JPMorgan Chase has announced an increase in its quarterly dividend to $1.50 per share, which represents a 2.0% yield and is effective for payments on October 31st.
• Wall Street analysts show mixed opinions on JPMorgan Chase, with price targets adjusted between $336.00 and $350.00, while maintaining a consensus rating of "Hold."

Integrated Capital Management LLC cut its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 80.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,742 shares of the financial services provider's stock after selling 6,970 shares during the quarter. Integrated Capital Management LLC's holdings in JPMorgan Chase & Co. were worth $507,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of JPM. MJT & Associates Financial Advisory Group Inc. bought a new position in shares of JPMorgan Chase & Co. during the first quarter worth about $28,000. University of Illinois Foundation bought a new position in shares of JPMorgan Chase & Co. during the first quarter worth about $30,000. Ryan Investment Management Inc. bought a new position in shares of JPMorgan Chase & Co. during the second quarter worth about $37,000. Christopher J. Hasenberg Inc grew its holdings in shares of JPMorgan Chase & Co. by 212.0% during the second quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider's stock worth $45,000 after buying an additional 106 shares in the last quarter. Finally, Goodman Advisory Group LLC acquired a new position in JPMorgan Chase & Co. during the first quarter valued at approximately $76,000. 71.55% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. UBS Group increased their price target on JPMorgan Chase & Co. from $339.00 to $350.00 and gave the company a "buy" rating in a research report on Tuesday, October 7th. Morgan Stanley increased their price target on JPMorgan Chase & Co. from $298.00 to $336.00 and gave the company an "equal weight" rating in a research report on Monday, September 29th. Zacks Research cut JPMorgan Chase & Co. from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 8th. Baird R W cut JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a research report on Friday, June 27th. Finally, Weiss Ratings reissued a "buy (b+)" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday. Fourteen equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $313.89.

JPMorgan Chase & Co. Stock Performance

JPM opened at $301.12 on Friday. JPMorgan Chase & Co. has a 12-month low of $202.16 and a 12-month high of $318.01. The stock has a market cap of $828.00 billion, a price-to-earnings ratio of 15.45, a PEG ratio of 1.94 and a beta of 1.13. The business has a 50 day moving average of $301.61 and a 200-day moving average of $276.78. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.25.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share for the quarter, topping the consensus estimate of $4.48 by $0.48. The business 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 firm's revenue for the quarter was down 10.5% compared to the same quarter last year. During the same period last year, the firm posted $6.12 EPS. On average, equities research analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

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

Insiders Place Their Bets

In related 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 transaction of $2,830,430.00. Following the completion of the sale, the director directly owned 82,207 shares of the company's stock, valued at approximately $24,492,753.58. This trade represents a 10.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.47% of the company's stock.

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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