Janney Capital Management LLC Sells 1,653 Shares of JPMorgan Chase & Co. $JPM

Key Points

• Janney Capital Management LLC reduced its holdings in JPMorgan Chase & Co. by 1.5%, selling 1,653 shares, leaving it with a total of 112,017 shares valued at approximately $32.5 million.
• Institutional investors and hedge funds collectively own 71.55% of JPMorgan's stock, indicating strong institutional interest in the firm.
• JPMorgan Chase & Co. announced an increase in its quarterly dividend, raising it from $1.40 to $1.50 per share, resulting in an annualized yield of 1.9%.

Janney Capital Management LLC cut its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 1.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 112,017 shares of the financial services provider's stock after selling 1,653 shares during the period. JPMorgan Chase & Co. comprises about 2.1% of Janney Capital Management LLC's holdings, making the stock its 6th largest position. Janney Capital Management LLC's holdings in JPMorgan Chase & Co. were worth $32,475,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Kingstone Capital Partners Texas LLC grew its holdings in shares of JPMorgan Chase & Co. by 609,867.5% during the second 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 last quarter. Nuveen LLC acquired a new position in JPMorgan Chase & Co. during the first quarter worth about $3,972,807,000. National Bank of Canada FI increased its holdings in JPMorgan Chase & Co. by 44.4% in the first quarter. National Bank of Canada FI now owns 4,518,740 shares of the financial services provider's stock valued at $1,108,415,000 after buying an additional 1,388,992 shares in the last quarter. Strs Ohio acquired a new stake in shares of JPMorgan Chase & Co. during the 1st quarter valued at approximately $279,389,000. Finally, Alecta Tjanstepension Omsesidigt acquired a new stake in shares of JPMorgan Chase & Co. during the 1st quarter valued at approximately $278,493,000. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Morgan Stanley lifted their price objective on JPMorgan Chase & Co. from $298.00 to $336.00 and gave the stock an "equal weight" rating in a research report on Monday, September 29th. TD Cowen boosted their price objective on shares of JPMorgan Chase & Co. from $350.00 to $370.00 and gave the company a "buy" rating in a research note on Friday. Wells Fargo & Company upped their price target on shares of JPMorgan Chase & Co. from $325.00 to $345.00 and gave the stock an "overweight" rating in a research report on Tuesday, September 16th. Baird R W cut shares of JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a research report on Friday, June 27th. Finally, Deutsche Bank Aktiengesellschaft upped their target price 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 equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $307.70.

JPMorgan Chase & Co. Trading Up 0.8%

JPMorgan Chase & Co. stock opened at $309.89 on Friday. The stock has a market capitalization of $852.11 billion, a PE ratio of 15.90, a price-to-earnings-growth ratio of 2.04 and a beta of 1.13. JPMorgan Chase & Co. has a 12-month low of $202.16 and a 12-month high of $318.01. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.88. The firm has a 50 day simple moving average of $300.67 and a 200-day simple moving average of $274.72.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share for the quarter, topping analysts' consensus estimates of $4.48 by $0.48. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The firm had revenue of $44.91 billion during the quarter, compared to analysts' expectations of $43.76 billion. During the same period last year, the firm posted $6.12 earnings per share. The firm's revenue for the quarter was down 10.5% compared to the same quarter last year. As a group, equities research analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, October 6th will be given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 1.9%. 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 currently 28.73%.

Insider Transactions at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total value of $2,830,430.00. Following the completion of the sale, the director owned 82,207 shares in the company, valued at $24,492,753.58. This represents a 10.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.47% of the stock is currently owned by insiders.

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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