Norris Perne & French LLP MI Sells 1,998 Shares of JPMorgan Chase & Co. $JPM

Key Points

• Norris Perne & French LLP MI sold 1,998 shares of JPMorgan Chase & Co., decreasing its stake by 15.4% to 10,948 shares, valued at approximately $3.17 million as of the latest SEC filing.
• In a recent surge of institutional activity, over 71.55% of JPMorgan’s stock is now owned by institutional investors, with many firms adjusting their holdings.
• JPMorgan Chase & Co. announced an increase in its quarterly dividend from $1.40 to $1.50, indicating a positive outlook amidst a projected EPS of 18.1 for the current year.

Norris Perne & French LLP MI reduced its position in JPMorgan Chase & Co. (NYSE:JPM) by 15.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,948 shares of the financial services provider's stock after selling 1,998 shares during the quarter. Norris Perne & French LLP MI's holdings in JPMorgan Chase & Co. were worth $3,174,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Investment Research & Advisory Group Inc. raised its holdings in shares of JPMorgan Chase & Co. by 0.6% in the second quarter. Investment Research & Advisory Group Inc. now owns 25,608 shares of the financial services provider's stock valued at $7,424,000 after acquiring an additional 147 shares in the last quarter. Global Trust Asset Management LLC raised its holdings in shares of JPMorgan Chase & Co. by 33.5% in the second quarter. Global Trust Asset Management LLC now owns 6,104 shares of the financial services provider's stock valued at $1,770,000 after acquiring an additional 1,533 shares in the last quarter. Investment Advisory Services Inc. TX ADV raised its holdings in shares of JPMorgan Chase & Co. by 1.6% in the second quarter. Investment Advisory Services Inc. TX ADV now owns 17,862 shares of the financial services provider's stock valued at $5,178,000 after acquiring an additional 279 shares in the last quarter. Moody Lynn & Lieberson LLC raised its holdings in shares of JPMorgan Chase & Co. by 1.1% in the second quarter. Moody Lynn & Lieberson LLC now owns 199,082 shares of the financial services provider's stock valued at $57,716,000 after acquiring an additional 2,162 shares in the last quarter. Finally, Overbrook Management Corp raised its holdings in shares of JPMorgan Chase & Co. by 1.5% in the second quarter. Overbrook Management Corp now owns 30,862 shares of the financial services provider's stock valued at $8,947,000 after acquiring an additional 467 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Linda Bammann sold 9,500 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $297.94, for a total value of $2,830,430.00. Following the completion of the transaction, the director directly owned 82,207 shares in the company, valued at $24,492,753.58. This trade represents a 10.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.47% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on JPM. Morgan Stanley lifted their price objective on JPMorgan Chase & Co. from $298.00 to $336.00 and gave the company an "equal weight" rating in a report on Monday. Hsbc Global Res downgraded JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research report on Tuesday, July 8th. Wells Fargo & Company raised their price objective on JPMorgan Chase & Co. from $325.00 to $345.00 and gave the company an "overweight" rating in a research report on Tuesday, September 16th. Baird R W downgraded JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a research report on Friday, June 27th. Finally, Phillip Securities downgraded JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating 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 company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $303.45.

JPMorgan Chase & Co. Trading Up 0.8%

Shares of NYSE:JPM opened at $309.89 on Friday. JPMorgan Chase & Co. has a 52-week low of $202.16 and a 52-week high of $318.01. The stock has a market cap of $852.11 billion, a price-to-earnings ratio of 15.90, a PEG ratio of 2.03 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 business has a 50-day moving average price of $300.67 and a 200-day moving average price of $274.48.

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. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.The firm had revenue of $44.91 billion during the quarter, compared to analysts' expectations of $43.76 billion. During the same period last year, the business posted $6.12 earnings per share. The company's revenue for the quarter was down 10.5% compared to the same quarter last year. Equities analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The company 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 is Monday, October 6th. This is a positive change from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. This represents a $6.00 annualized dividend and a dividend yield of 1.9%. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is 28.73%.

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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