JPMorgan Chase & Co. $JPM Shares Sold by Highland Capital Management LLC

Key Points

• Highland Capital Management LLC reduced its holdings in JPMorgan Chase & Co. by 1.2% in the 2nd quarter, maintaining approximately 2.5% of its total assets in the company, valued at $46.9 million.
• Several institutional investors, including Florida Financial Advisors LLC and Crown Wealth Group LLC, increased their positions in JPMorgan Chase & Co. during the 1st quarter, indicating strong confidence in the firm.
• JPMorgan Chase & Co. recently raised its quarterly dividend to $1.50 per share, marking an increase from $1.40, with a current annual yield of 2.0% and a payout ratio of 30.79%.

Highland Capital Management LLC cut its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 1.2% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 161,814 shares of the financial services provider's stock after selling 1,984 shares during the period. JPMorgan Chase & Co. comprises approximately 2.5% of Highland Capital Management LLC's holdings, making the stock its 6th biggest position. Highland Capital Management LLC's holdings in JPMorgan Chase & Co. were worth $46,912,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Florida Financial Advisors LLC lifted its position 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 valued at $2,416,000 after purchasing an additional 3,792 shares during the last quarter. Crown Wealth Group LLC lifted its position in JPMorgan Chase & Co. by 5.4% in the 1st quarter. Crown Wealth Group LLC now owns 4,320 shares of the financial services provider's stock valued at $1,060,000 after purchasing an additional 222 shares during the last quarter. Mosaic Financial Group LLC lifted its position in JPMorgan Chase & Co. by 0.8% in the 1st quarter. Mosaic Financial Group LLC now owns 9,296 shares of the financial services provider's stock valued at $2,280,000 after purchasing an additional 78 shares during the last quarter. Morse Asset Management Inc lifted its position in JPMorgan Chase & Co. by 19.5% in the 1st quarter. Morse Asset Management Inc now owns 2,569 shares of the financial services provider's stock valued at $630,000 after purchasing an additional 420 shares during the last quarter. Finally, Hidden Cove Wealth Management LLC lifted its position in JPMorgan Chase & Co. by 4.2% in the 1st quarter. Hidden Cove Wealth Management LLC now owns 2,758 shares of the financial services provider's stock valued at $677,000 after purchasing an additional 112 shares during the last quarter. 71.55% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

JPM has been the topic of several recent research reports. Wells Fargo & Company lifted their price objective on shares of JPMorgan Chase & Co. from $325.00 to $345.00 and gave the company an "overweight" rating in a research report on Tuesday, September 16th. Royal Bank Of Canada restated a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Thursday, September 11th. HSBC restated a "reduce" rating and set a $259.00 price target on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 8th. Weiss Ratings restated a "buy (b+)" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday. Finally, Cowen restated a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, July 16th. Fourteen equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $313.89.

JPMorgan Chase & Co. Stock Performance

Shares of JPM opened at $301.12 on Friday. The firm's 50 day moving average is $301.61 and its 200-day moving average is $276.78. The stock has a market capitalization of $828.00 billion, a P/E ratio of 15.45, a P/E/G ratio of 1.94 and a beta of 1.13. 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. has a 12-month low of $202.16 and a 12-month high of $318.01.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced 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 company had revenue of $44.91 billion for 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 business's revenue was down 10.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $6.12 EPS. Equities research analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, October 6th will be paid a $1.50 dividend. The ex-dividend date of this dividend is Monday, October 6th. This represents a $6.00 annualized dividend and a dividend yield of 2.0%. This is an increase from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. JPMorgan Chase & Co.'s dividend payout ratio is presently 30.79%.

Insider Activity

In other news, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. 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 transaction, the director owned 82,207 shares of the company's stock, valued at $24,492,753.58. The trade was a 10.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.47% of the stock is owned by corporate 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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