POM Investment Strategies LLC Reduces Stock Position in JPMorgan Chase & Co. $JPM

Key Points

• POM Investment Strategies LLC cut its JPMorgan stake by 97.5% in the second quarter, selling 3,985 shares and retaining just 103 shares valued at approximately $34,000. Institutional investors collectively own 71.55% of the stock.
• JPMorgan reported strong quarterly results, with EPS of $6.14 exceeding estimates of $5.59 and revenue rising 27.7% year over year to $58.02 billion. The company also raised its quarterly dividend to $1.65 from $1.50, implying a 2.0% annual yield.
• Analyst sentiment remains favorable but cautious: JPM has a “Moderate Buy” consensus rating and an average price target of $363.29, while shares recently opened at $334.95 after declining 0.5%.

POM Investment Strategies LLC lowered its holdings in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 97.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 103 shares of the financial services provider's stock after selling 3,985 shares during the quarter. POM Investment Strategies LLC's holdings in JPMorgan Chase & Co. were worth $34,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Concorde Asset Management LLC boosted its holdings in shares of JPMorgan Chase & Co. by 1.1% in the second quarter. Concorde Asset Management LLC now owns 2,660 shares of the financial services provider's stock worth $871,000 after buying an additional 29 shares during the last quarter. Elevation Wealth Management LLC increased its stake in shares of JPMorgan Chase & Co. by 1.0% in the second quarter. Elevation Wealth Management LLC now owns 3,074 shares of the financial services provider's stock worth $1,006,000 after purchasing an additional 29 shares in the last quarter. Arkansas Financial Group Inc. raised its position in shares of JPMorgan Chase & Co. by 1.1% during the 2nd quarter. Arkansas Financial Group Inc. now owns 2,667 shares of the financial services provider's stock valued at $873,000 after purchasing an additional 30 shares during the period. Flynn Zito Capital Management LLC lifted its stake in shares of JPMorgan Chase & Co. by 1.1% during the 2nd quarter. Flynn Zito Capital Management LLC now owns 2,830 shares of the financial services provider's stock valued at $926,000 after buying an additional 30 shares in the last quarter. Finally, Wedgewood Investors Inc. PA boosted its holdings in JPMorgan Chase & Co. by 1.5% in the 2nd quarter. Wedgewood Investors Inc. PA now owns 2,059 shares of the financial services provider's stock worth $674,000 after buying an additional 30 shares during the period. 71.55% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, insider Robin Leopold sold 2,500 shares of JPMorgan Chase & Co. stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $352.81, for a total transaction of $882,025.00. Following the completion of the sale, the insider owned 71,047 shares of the company's stock, valued at approximately $25,066,092.07. The trade was a 3.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.41% of the company's stock.

JPMorgan Chase & Co. Stock Down 0.5%

Shares of JPM opened at $334.95 on Wednesday. The company has a market cap of $890.37 billion, a PE ratio of 14.35, a P/E/G ratio of 1.38 and a beta of 0.98. The business has a fifty day moving average of $353.53 and a 200 day moving average of $326.38. JPMorgan Chase & Co. has a 52-week low of $279.10 and a 52-week high of $366.50. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.30.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $6.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.59 by $0.55. JPMorgan Chase & Co. had a return on equity of 18.23% and a net margin of 21.86%.The company had revenue of $58.02 billion for the quarter, compared to analysts' expectations of $50.72 billion. During the same quarter in the prior year, the firm earned $4.96 earnings per share. JPMorgan Chase & Co.'s revenue was up 27.7% compared to the same quarter last year. On average, sell-side analysts expect that JPMorgan Chase & Co. will post 24.29 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, October 31st. Investors of record on Tuesday, October 6th will be paid a $1.65 dividend. This is a positive change from JPMorgan Chase & Co.'s previous quarterly dividend of $1.50. The ex-dividend date is Tuesday, October 6th. This represents a $6.60 dividend on an annualized basis and a yield of 2.0%. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is 25.71%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on JPM shares. Jefferies Financial Group reissued a "neutral" rating on shares of JPMorgan Chase & Co. in a report on Friday, September 25th. Weiss Ratings upgraded shares of JPMorgan Chase & Co. from a "buy (b)" rating to a "buy (b+)" rating in a research report on Wednesday, September 2nd. Citigroup raised their target price on shares of JPMorgan Chase & Co. from $325.00 to $360.00 and gave the company a "neutral" rating in a research note on Monday, July 20th. Royal Bank Of Canada boosted their price target on shares of JPMorgan Chase & Co. from $330.00 to $370.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 15th. Finally, HSBC increased their price objective on shares of JPMorgan Chase & Co. from $369.00 to $377.00 and gave the company a "hold" rating in a report on Monday. Sixteen investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $363.29.

JPMorgan Chase & Co. News Roundup

Here are the key news stories impacting JPMorgan Chase & Co. this week:

• Positive Sentiment: JPMorgan’s planned partnership with the Qatar Investment Authority could generate additional asset-management revenue, with JPMorgan Asset Management expected to manage approximately $15 billion of a proposed $20 billion mandate spanning public and private markets. JPMorgan QIA partnership article
• Positive Sentiment: JPMorgan ETFs attracted nearly $600 million of net inflows on September 28, a sign of continued demand for the bank’s investment products and a potential benefit to fee income. JPMorgan ETF inflows article
• Positive Sentiment: HSBC raised its JPMorgan price target to $377 from $369 while maintaining a Hold rating, suggesting analysts see valuation upside despite near-term caution. HSBC JPMorgan price target article
• Positive Sentiment: Analysts expect double-digit earnings growth in JPMorgan’s upcoming third quarter, while the bank has issued new debt and declared a preferred-stock dividend, highlighting continued access to funding and capital distributions. JPMorgan quarterly earnings preview

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co is a global financial services company headquartered in New York City. Through its businesses, the company provides banking, investment banking, asset management, private banking, commercial banking, consumer lending and payment services to individuals, businesses, institutions and governments.

The company operates through major business areas that include Consumer & Community Banking, Commercial & Investment Banking, and Asset & Wealth Management. Its products and services include deposit accounts, credit cards, mortgages, auto loans, business financing, investment and advisory services, securities trading and custody, payment processing, and wealth-management solutions.

JPMorgan Chase serves customers in the United States and maintains operations and client relationships across international markets.

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