Perpetual Ltd Has $2.33 Million Stock Position in JPMorgan Chase & Co. $JPM

Key Points

• Perpetual Ltd reduced its stake in JPMorgan Chase & Co. by 33.7% to a position valued at $2.33 million, following a sale of 4,083 shares in the second quarter.
• JPMorgan Chase & Co. reported a quarterly earnings per share of $4.96, surpassing analysts' expectations, although revenue was down 10.5% year-over-year at $44.91 billion.
• The bank declared a quarterly dividend increase to $1.50, up from $1.40, with a current dividend yield of 1.9% as of the ex-dividend date of October 6th.

Perpetual Ltd trimmed its position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 33.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,047 shares of the financial services provider's stock after selling 4,083 shares during the quarter. Perpetual Ltd's holdings in JPMorgan Chase & Co. were worth $2,333,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in JPM. Luts & Greenleigh Group Inc. raised its holdings in JPMorgan Chase & Co. by 2.1% in the second quarter. Luts & Greenleigh Group Inc. now owns 4,413 shares of the financial services provider's stock worth $1,279,000 after purchasing an additional 90 shares during the period. Livforsakringsbolaget Skandia Omsesidigt increased its stake in JPMorgan Chase & Co. by 18.7% in the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 198,460 shares of the financial services provider's stock valued at $57,506,000 after buying an additional 31,300 shares during the last quarter. Kingstone Capital Partners Texas LLC boosted its position in JPMorgan Chase & Co. by 609,867.5% during the second quarter. Kingstone Capital Partners Texas LLC now owns 72,897,211 shares of the financial services provider's stock valued at $21,133,630,000 after purchasing an additional 72,885,260 shares during the last quarter. IFM Investors Pty Ltd boosted its holdings in shares of JPMorgan Chase & Co. by 2.5% in the 2nd quarter. IFM Investors Pty Ltd now owns 536,123 shares of the financial services provider's stock valued at $155,427,000 after buying an additional 12,955 shares during the last quarter. Finally, Pachira Investments Inc. lifted its stake in JPMorgan Chase & Co. by 24.4% in the second quarter. Pachira Investments Inc. now owns 1,060 shares of the financial services provider's stock valued at $307,000 after acquiring an additional 208 shares during the last quarter. 71.55% of the stock is owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Stock Performance

Shares of JPM opened at $314.25 on Monday. JPMorgan Chase & Co. has a 12-month low of $202.16 and a 12-month high of $315.80. The company has a market cap of $864.11 billion, a PE ratio of 16.12, a price-to-earnings-growth ratio of 2.09 and a beta of 1.13. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.25. The stock has a 50-day moving average price of $296.43 and a 200-day moving average price of $269.43.

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, beating the consensus estimate of $4.48 by $0.48. The firm 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 quarterly revenue was down 10.5% on a year-over-year basis. During the same quarter last year, the company posted $6.12 EPS. As a group, equities analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, October 6th will be paid a $1.50 dividend. This is a boost from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. This represents a $6.00 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Monday, October 6th. JPMorgan Chase & Co.'s payout ratio is presently 28.73%.

Insider Activity at JPMorgan Chase & Co.

In other news, Director Linda Bammann sold 9,500 shares of the business'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 sale, the director owned 82,207 shares of the company's stock, valued at approximately $24,492,753.58. The trade was a 10.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.47% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Zacks Research cut JPMorgan Chase & Co. from a "strong-buy" rating to a "hold" rating in a report on Monday, September 8th. Keefe, Bruyette & Woods boosted their price target on JPMorgan Chase & Co. from $327.00 to $330.00 and gave the stock an "outperform" rating in a report on Wednesday, July 16th. Wells Fargo & Company increased their price target on JPMorgan Chase & Co. from $325.00 to $345.00 and gave the company an "overweight" rating in a research note on Tuesday, September 16th. Hsbc Global Res lowered shares of JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a report on Tuesday, July 8th. Finally, Phillip Securities downgraded JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $292.78.

About JPMorgan Chase & Co.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.