Lincluden Management Ltd. Trims Holdings in JPMorgan Chase & Co. $JPM

Key Points

• Lincluden Management Ltd. has reduced its stake in JPMorgan Chase & Co. by 21.4%, now holding 19,190 shares worth approximately $5.56 million.
• Several institutional investors have recently adjusted their positions in JPMorgan, with Sovereign Financial Group Inc. and Concurrent Investment Advisors LLC increasing their stakes by 2.0% and 17.4% respectively.
• JPMorgan Chase is set to increase its quarterly dividend to $1.50 per share, reflecting a 2.0% yield and marking an increase from the previous $1.40 per share.

Lincluden Management Ltd. trimmed its stake in JPMorgan Chase & Co. (NYSE:JPM) by 21.4% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 19,190 shares of the financial services provider's stock after selling 5,230 shares during the period. Lincluden Management Ltd.'s holdings in JPMorgan Chase & Co. were worth $5,563,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Sather Financial Group Inc grew its holdings in shares of JPMorgan Chase & Co. by 1.0% in the second quarter. Sather Financial Group Inc now owns 9,844 shares of the financial services provider's stock valued at $2,854,000 after purchasing an additional 93 shares in the last quarter. Muirfield Wealth Advisors LLC grew its holdings in shares of JPMorgan Chase & Co. by 5.2% in the second quarter. Muirfield Wealth Advisors LLC now owns 1,586 shares of the financial services provider's stock valued at $460,000 after purchasing an additional 79 shares in the last quarter. Sovereign Financial Group Inc. grew its holdings in shares of JPMorgan Chase & Co. by 2.0% in the second quarter. Sovereign Financial Group Inc. now owns 6,812 shares of the financial services provider's stock valued at $1,975,000 after purchasing an additional 133 shares in the last quarter. Concurrent Investment Advisors LLC grew its holdings in shares of JPMorgan Chase & Co. by 17.4% in the second quarter. Concurrent Investment Advisors LLC now owns 133,686 shares of the financial services provider's stock valued at $38,757,000 after purchasing an additional 19,816 shares in the last quarter. Finally, Johnson Investment Counsel Inc. grew its holdings in shares of JPMorgan Chase & Co. by 2.3% in the second quarter. Johnson Investment Counsel Inc. now owns 230,250 shares of the financial services provider's stock valued at $66,752,000 after purchasing an additional 5,146 shares in the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on JPM. Hsbc Global Res cut shares of JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a report on Tuesday, July 8th. UBS Group lifted their price objective on shares of JPMorgan Chase & Co. from $339.00 to $350.00 and gave the company a "buy" rating in a report on Tuesday, October 7th. Zacks Research cut shares of JPMorgan Chase & Co. from a "strong-buy" rating to a "hold" rating in a report on Monday, September 8th. Royal Bank Of Canada reiterated a "buy" rating and set a $343.00 price target on shares of JPMorgan Chase & Co. in a report on Tuesday, October 14th. Finally, Wolfe Research boosted their price target on shares of JPMorgan Chase & Co. from $342.00 to $346.00 and gave the stock an "outperform" rating in a report on Thursday, October 16th. Fifteen research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, JPMorgan Chase & Co. currently has an average rating of "Hold" and an average target price of $322.86.

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 shares were sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the transaction, the director directly owned 82,207 shares of the company's stock, valued at $24,492,753.58. This represents a 10.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.47% of the stock is currently owned by company insiders.

JPMorgan Chase & Co. Trading Down 1.7%

NYSE JPM opened at $297.09 on Wednesday. The company has a quick ratio of 0.88, a current ratio of 0.86 and a debt-to-equity ratio of 1.26. 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 $816.92 billion, a PE ratio of 14.71, a price-to-earnings-growth ratio of 1.83 and a beta of 1.13. The firm has a 50 day moving average of $303.16 and a two-hundred day moving average of $279.88.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its earnings results on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.83 by $0.24. JPMorgan Chase & Co. had a net margin of 20.90% and a return on equity of 17.18%. The business had revenue of $46.43 billion during the quarter, compared to analysts' expectations of $44.42 billion. During the same quarter in the prior year, the business posted $4.37 EPS. The company's revenue for the quarter was up 8.8% on a year-over-year basis. As a group, research analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, October 6th will be given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Monday, October 6th. This is an increase from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. JPMorgan Chase & Co.'s payout ratio is currently 29.72%.

JPMorgan Chase & Co. Company 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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