Riverview Trust Co decreased its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 49.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,936 shares of the financial services provider's stock after selling 3,922 shares during the quarter. JPMorgan Chase & Co. comprises 1.4% of Riverview Trust Co's investment portfolio, making the stock its 11th largest holding. Riverview Trust Co's holdings in JPMorgan Chase & Co. were worth $1,141,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. MJT & Associates Financial Advisory Group Inc. purchased a new stake in JPMorgan Chase & Co. in the 1st quarter valued at $28,000. University of Illinois Foundation purchased a new position in JPMorgan Chase & Co. during the 1st quarter worth $30,000. Ryan Investment Management Inc. purchased a new position in JPMorgan Chase & Co. during the 2nd quarter worth $37,000. Christopher J. Hasenberg Inc raised its position in JPMorgan Chase & Co. by 212.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider's stock worth $45,000 after buying an additional 106 shares during the last quarter. Finally, Goodman Advisory Group LLC purchased a new position in JPMorgan Chase & Co. during the 1st quarter worth $76,000. Hedge funds and other institutional investors own 71.55% of the company's stock.
Insider Activity
In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the firm's stock in a transaction dated 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 sale, the director directly owned 82,207 shares of the company's stock, valued at $24,492,753.58. This trade represents a 10.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.47% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
A number of equities analysts have commented on JPM shares. Bank of America upped their price objective on shares of JPMorgan Chase & Co. from $330.00 to $340.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. Weiss Ratings restated a "buy (b+)" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday. HSBC restated a "reduce" rating and set a $259.00 price objective on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 8th. Evercore ISI upped their price objective on shares of JPMorgan Chase & Co. from $309.00 to $330.00 and gave the stock an "outperform" rating in a research report on Tuesday, September 30th. Finally, Citigroup upped their price objective on shares of JPMorgan Chase & Co. from $275.00 to $325.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 24th. Fifteen analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $309.95.
View Our Latest Analysis on JPMorgan Chase & Co.
JPMorgan Chase & Co. Price Performance
Shares of NYSE JPM opened at $304.31 on Thursday. The stock has a market cap of $836.78 billion, a price-to-earnings ratio of 15.61, a PEG ratio of 1.99 and a beta of 1.13. JPMorgan Chase & Co. has a 52 week low of $202.16 and a 52 week high of $318.01. The company's 50-day moving average price is $301.19 and its 200 day moving average price is $275.87. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.25.
JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, beating analysts' consensus estimates 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 firm's revenue was down 10.5% on a year-over-year basis. During the same period in the prior year, the company earned $6.12 EPS. As a group, research 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 disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, October 6th will be paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Monday, October 6th. This is a positive change from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. JPMorgan Chase & Co.'s dividend payout ratio is currently 30.79%.
JPMorgan Chase & Co. Profile
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Free Report)
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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