Gateway Investment Advisers LLC Sells 18,127 Shares of JPMorgan Chase & Co. $JPM

Key Points

• Gateway Investment Advisers LLC has reduced its stake in JPMorgan Chase & Co. by 2.6%, making it the firm's 8th largest position at a value of approximately $199.98 million.
• JPMorgan Chase recently reported a quarterly EPS of $4.96, exceeding analysts' estimates, despite experiencing a 10.5% year-over-year revenue decline.
• The company announced a new quarterly dividend of $1.50, representing a yield of 1.9%, up from a previous amount of $1.40.

Gateway Investment Advisers LLC lessened its stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 2.6% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 689,807 shares of the financial services provider's stock after selling 18,127 shares during the period. JPMorgan Chase & Co. comprises approximately 2.2% of Gateway Investment Advisers LLC's portfolio, making the stock its 8th largest position. Gateway Investment Advisers LLC's holdings in JPMorgan Chase & Co. were worth $199,982,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. MJT & Associates Financial Advisory Group Inc. acquired a new stake in JPMorgan Chase & Co. in the 1st quarter valued at approximately $28,000. University of Illinois Foundation acquired a new stake in JPMorgan Chase & Co. in the 1st quarter valued at approximately $30,000. Curat Global LLC acquired a new stake in JPMorgan Chase & Co. in the 1st quarter valued at approximately $33,000. Christopher J. Hasenberg Inc increased its holdings in JPMorgan Chase & Co. by 212.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider's stock valued at $45,000 after purchasing an additional 106 shares during the last quarter. Finally, Capital A Wealth Management LLC acquired a new stake in JPMorgan Chase & Co. in the 4th quarter valued at approximately $64,000. Institutional investors and hedge funds own 71.55% of the company's stock.

JPMorgan Chase & Co. Stock Up 0.3%

Shares of JPMorgan Chase & Co. stock traded up $1.02 during trading on Friday, hitting $314.25. 23,513,937 shares of the stock were exchanged, compared to its average volume of 7,166,939. The stock has a market cap of $864.11 billion, a price-to-earnings ratio of 16.12, a price-to-earnings-growth ratio of 2.08 and a beta of 1.13. The firm's 50-day moving average price is $296.43 and its 200 day moving average price is $269.15. JPMorgan Chase & Co. has a 12-month low of $202.16 and a 12-month high of $315.80. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.88.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share (EPS) 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 net margin of 20.52% and a return on equity of 16.93%. The company's revenue for the quarter was down 10.5% on a year-over-year basis. During the same period in the previous year, the company earned $6.12 EPS. As a group, analysts forecast 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 declared a quarterly dividend, which will be paid on Friday, October 31st. Investors 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%. This is a boost from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Monday, October 6th. JPMorgan Chase & Co.'s dividend payout ratio is presently 28.73%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on JPM. Royal Bank Of Canada reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a report on Thursday, September 11th. Keefe, Bruyette & Woods boosted their price target on shares of JPMorgan Chase & Co. from $327.00 to $330.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 16th. Baird R W downgraded shares of JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a research note on Friday, June 27th. Hsbc Global Res downgraded shares of JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research note on Tuesday, July 8th. Finally, Cowen restated a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, July 16th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, six have given a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $292.78.

Insiders Place Their Bets

In related news, Director Linda Bammann sold 9,500 shares of the business's stock in a transaction 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 directly owned 82,207 shares of the company's stock, valued at $24,492,753.58. The trade was a 10.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.47% of the stock is currently owned by company insiders.

About JPMorgan Chase & Co.

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.