JPMorgan Chase & Co. $JPM Holdings Lowered by Clarity Financial LLC

Clarity Financial LLC trimmed its stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 35.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 53,479 shares of the financial services provider's stock after selling 28,773 shares during the period. JPMorgan Chase & Co. comprises about 1.7% of Clarity Financial LLC's holdings, making the stock its 25th biggest holding. Clarity Financial LLC's holdings in JPMorgan Chase & Co. were worth $15,504,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of JPM. Kingstone Capital Partners Texas LLC lifted its stake in JPMorgan Chase & Co. by 609,867.5% in 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 acquiring an additional 72,885,260 shares in the last quarter. Nuveen LLC purchased a new stake in JPMorgan Chase & Co. in the 1st quarter worth about $3,972,807,000. National Bank of Canada FI lifted its stake in JPMorgan Chase & Co. by 44.4% in 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 acquiring an additional 1,388,992 shares in the last quarter. Strs Ohio purchased a new stake in JPMorgan Chase & Co. in the 1st quarter worth about $279,389,000. Finally, Alecta Tjanstepension Omsesidigt purchased a new stake in JPMorgan Chase & Co. in the 1st quarter worth about $278,493,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on JPM shares. Keefe, Bruyette & Woods raised their price target on JPMorgan Chase & Co. from $327.00 to $330.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 16th. Deutsche Bank Aktiengesellschaft raised their price target on JPMorgan Chase & Co. from $300.00 to $320.00 and gave the stock a "hold" rating in a research note on Tuesday, September 30th. Citigroup raised their price target on JPMorgan Chase & Co. from $275.00 to $325.00 and gave the stock a "neutral" rating in a research note on Wednesday, September 24th. Baird R W downgraded JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a research note on Friday, June 27th. Finally, Weiss Ratings reaffirmed a "buy (b+)" rating on shares of JPMorgan Chase & Co. in a research note on Saturday, September 27th. Fifteen investment analysts have rated the stock with a Buy rating, eight have assigned 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 an average target price of $309.95.

JPMorgan Chase & Co. Stock Performance

Shares of NYSE JPM opened at $307.61 on Wednesday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.88 and a current ratio of 0.88. The firm has a market cap of $845.85 billion, a price-to-earnings ratio of 15.78, a P/E/G ratio of 2.03 and a beta of 1.13. The business's 50-day simple moving average is $301.10 and its 200-day simple moving average is $275.67. 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 issued its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, beating analysts' consensus estimates of $4.48 by $0.48. The business had revenue of $44.91 billion for 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%.The firm's revenue for the quarter was down 10.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $6.12 EPS. As a group, equities research analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders 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 dividend yield of 2.0%. This is a positive change from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. JPMorgan Chase & Co.'s payout ratio is currently 30.79%.

Insider Activity at JPMorgan Chase & Co.

In other news, Director Linda Bammann sold 9,500 shares of the stock in a transaction dated 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 transaction, the director owned 82,207 shares of the company's stock, valued at approximately $24,492,753.58. This represents a 10.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate 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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