Chesley Taft & Associates LLC Has $49.33 Million Stock Holdings in JPMorgan Chase & Co. $JPM

Key Points

• Chesley Taft & Associates LLC decreased its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 0.7%, now owning 170,147 shares, which represent 2.2% of its total portfolio.
• JPMorgan Chase & Co. has announced an increase in its quarterly dividend from $1.40 to $1.50 per share, reflecting a 1.9% yield based on its current share price.
• JPMorgan’s Q2 earnings exceeded analysts' expectations, reporting $4.96 EPS versus an estimate of $4.48, although the company experienced a 10.5% drop in revenue year-over-year.

Chesley Taft & Associates LLC trimmed its position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 0.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 170,147 shares of the financial services provider's stock after selling 1,208 shares during the quarter. JPMorgan Chase & Co. accounts for 2.2% of Chesley Taft & Associates LLC's holdings, making the stock its 9th largest holding. Chesley Taft & Associates LLC's holdings in JPMorgan Chase & Co. were worth $49,327,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Florida Financial Advisors LLC increased its holdings in JPMorgan Chase & Co. by 62.5% in the 1st quarter. Florida Financial Advisors LLC now owns 9,863 shares of the financial services provider's stock worth $2,416,000 after acquiring an additional 3,792 shares during the last quarter. Fourth Dimension Wealth LLC bought a new stake in JPMorgan Chase & Co. in the fourth quarter valued at approximately $471,000. Crown Wealth Group LLC increased its stake in shares of JPMorgan Chase & Co. by 5.4% during the first quarter. Crown Wealth Group LLC now owns 4,320 shares of the financial services provider's stock valued at $1,060,000 after buying an additional 222 shares during the period. Mosaic Financial Group LLC grew its stake in JPMorgan Chase & Co. by 0.8% in the first quarter. Mosaic Financial Group LLC now owns 9,296 shares of the financial services provider's stock worth $2,280,000 after purchasing an additional 78 shares during the period. Finally, Morse Asset Management Inc boosted its holdings in JPMorgan Chase & Co. by 19.5% in the first quarter. Morse Asset Management Inc now owns 2,569 shares of the financial services provider's stock worth $630,000 after acquiring an additional 420 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company's stock.

Insider Activity at JPMorgan Chase & Co.

In related news, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. 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 owned 82,207 shares in the company, valued at approximately $24,492,753.58. The trade was a 10.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.47% of the stock is owned by company insiders.

JPMorgan Chase & Co. Stock Performance

Shares of NYSE JPM traded up $1.02 during mid-day trading on Friday, reaching $314.25. 23,513,937 shares of the company were exchanged, compared to its average volume of 7,166,939. JPMorgan Chase & Co. has a twelve month low of $202.16 and a twelve month high of $315.80. The stock has a market capitalization of $864.11 billion, a P/E ratio of 16.12, a P/E/G ratio of 2.08 and a beta of 1.13. 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 company's 50-day simple moving average is $296.43 and its 200-day simple moving average is $269.15.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its earnings results 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 company had revenue of $44.91 billion during the quarter, compared to analyst estimates of $43.76 billion. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The firm's quarterly revenue was down 10.5% compared to the same quarter last year. During the same period in the previous year, the business earned $6.12 earnings per share. As a group, research analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently announced 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 is a positive change from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. 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 1.9%. JPMorgan Chase & Co.'s payout ratio is 28.73%.

Analyst Ratings Changes

A number of equities analysts have weighed in on JPM shares. Citigroup set a $275.00 price target on shares of JPMorgan Chase & Co. and gave the stock a "buy" rating in a research report on Monday, July 7th. Phillip Securities downgraded JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, July 16th. Wells Fargo & Company raised their target price on shares of JPMorgan Chase & Co. from $325.00 to $345.00 and gave the stock an "overweight" rating in a report on Tuesday. Royal Bank Of Canada reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Thursday, September 11th. Finally, Cowen restated a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, July 16th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $292.78.

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.