JPMorgan Chase & Co. $JPM is Townsend Asset Management Corp NC ADV's 5th Largest Position

Key Points

• Townsend Asset Management Corp NC ADV has reduced its holdings in JPMorgan Chase & Co. by 3.2%, making the bank its 5th largest position, worth approximately $12.5 million.
• JPMorgan's recent earnings report showed an EPS of $4.96, exceeding expectations, but revenue declined by 10.5% year-over-year to $44.91 billion.
• The company has increased its quarterly dividend from $1.40 to $1.50 per share, equating to an annualized dividend yield of 1.9%.

Townsend Asset Management Corp NC ADV reduced its position in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 3.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,214 shares of the financial services provider's stock after selling 1,420 shares during the period. JPMorgan Chase & Co. accounts for about 4.5% of Townsend Asset Management Corp NC ADV's portfolio, making the stock its 5th largest holding. Townsend Asset Management Corp NC ADV's holdings in JPMorgan Chase & Co. were worth $12,528,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. MJT & Associates Financial Advisory Group Inc. acquired a new position in shares of JPMorgan Chase & Co. during the 1st quarter worth approximately $28,000. University of Illinois Foundation acquired a new position in shares of JPMorgan Chase & Co. during the 1st quarter worth approximately $30,000. Curat Global LLC acquired a new position in shares of JPMorgan Chase & Co. during the 1st quarter worth approximately $33,000. Ryan Investment Management Inc. acquired a new position in shares of JPMorgan Chase & Co. during the 2nd quarter worth approximately $37,000. Finally, Christopher J. Hasenberg Inc boosted its holdings in shares of JPMorgan Chase & Co. by 212.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider's stock worth $45,000 after purchasing an additional 106 shares during the last quarter. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

JPM has been the topic of several recent research reports. Robert W. Baird cut JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 target price on the stock. in a report on Friday, June 27th. Evercore ISI upped their price objective on JPMorgan Chase & Co. from $309.00 to $330.00 and gave the company an "outperform" rating in a report on Tuesday. Hsbc Global Res cut JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a report on Tuesday, July 8th. Zacks Research cut JPMorgan Chase & Co. from a "strong-buy" rating to a "hold" rating in a report on Monday, September 8th. Finally, Citigroup upped their price objective on JPMorgan Chase & Co. from $275.00 to $325.00 and gave the company a "neutral" rating in a report on Wednesday, September 24th. Thirteen research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $303.45.

JPMorgan Chase & Co. Stock Down 1.5%

NYSE:JPM opened at $310.82 on Thursday. 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 stock's fifty day moving average is $300.22 and its two-hundred day moving average is $273.45. JPMorgan Chase & Co. has a 52 week low of $202.16 and a 52 week high of $318.01. The stock has a market capitalization of $854.68 billion, a price-to-earnings ratio of 15.95, a price-to-earnings-growth ratio of 2.08 and a beta of 1.13.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its quarterly earnings data 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 return on equity of 16.93% and a net margin of 20.52%.The business had revenue of $44.91 billion for the quarter, compared to analyst estimates of $43.76 billion. During the same quarter in the prior year, the company earned $6.12 earnings per share. The company's revenue was down 10.5% on a year-over-year basis. Research analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current 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 given a dividend of $1.50 per share. This is an increase from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Monday, October 6th. JPMorgan Chase & Co.'s dividend payout ratio is currently 28.73%.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, Director Linda Bammann sold 9,500 shares of the company's stock in a transaction 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 sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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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