Smith Chas P & Associates PA Cpas Lowers Holdings in JPMorgan Chase & Co. $JPM

Key Points

• Smith Chas P & Associates PA Cpas reduced its holdings in JPMorgan Chase & Co. by 2.5%, now owning 338,099 shares valued at approximately $98 million.
• JPMorgan Chase recently announced a quarterly dividend of $1.50 per share, an increase from the previous $1.40 dividend.
• The company's stock performance shows a market capitalization of $852.11 billion and a recent earnings report beat consensus estimates with an EPS of $4.96.

Smith Chas P & Associates PA Cpas decreased its position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 2.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 338,099 shares of the financial services provider's stock after selling 8,681 shares during the quarter. JPMorgan Chase & Co. accounts for approximately 5.5% of Smith Chas P & Associates PA Cpas' holdings, making the stock its 2nd biggest holding. Smith Chas P & Associates PA Cpas' holdings in JPMorgan Chase & Co. were worth $98,018,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. MJT & Associates Financial Advisory Group Inc. bought a new stake in JPMorgan Chase & Co. during the 1st quarter worth about $28,000. University of Illinois Foundation bought a new stake in JPMorgan Chase & Co. during the 1st quarter worth about $30,000. Curat Global LLC bought a new stake in JPMorgan Chase & Co. during the 1st quarter worth about $33,000. Ryan Investment Management Inc. bought a new stake in JPMorgan Chase & Co. during the 2nd quarter worth about $37,000. Finally, Christopher J. Hasenberg Inc grew its holdings 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 acquiring an additional 106 shares during the last quarter. Institutional investors own 71.55% of the company's stock.

JPMorgan Chase & Co. Stock Performance

Shares of NYSE:JPM opened at $309.89 on Friday. The company has a market capitalization of $852.11 billion, a price-to-earnings ratio of 15.90, a P/E/G ratio of 2.04 and a beta of 1.13. The firm's 50 day simple moving average is $300.67 and its 200 day simple moving average is $274.72. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.88. JPMorgan Chase & Co. has a fifty-two week low of $202.16 and a fifty-two week high of $318.01.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, topping the consensus estimate of $4.48 by $0.48. The firm had revenue of $44.91 billion for the quarter, compared to the consensus estimate 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 period last year, the company posted $6.12 EPS. As a group, sell-side analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

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

Analysts Set New Price Targets

A number of brokerages have commented on JPM. 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. TD Cowen raised their target price on shares of JPMorgan Chase & Co. from $350.00 to $370.00 and gave the company a "buy" rating in a research note on Friday. Keefe, Bruyette & Woods raised their target price on shares of JPMorgan Chase & Co. from $327.00 to $330.00 and gave the company an "outperform" rating in a research note on Wednesday, July 16th. Bank of America raised their target price on shares of JPMorgan Chase & Co. from $330.00 to $340.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Finally, The Goldman Sachs Group raised their target price on shares of JPMorgan Chase & Co. from $336.00 to $350.00 and gave the company a "buy" rating in a research note on Friday. Fifteen equities research 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. According to MarketBeat.com, JPMorgan Chase & Co. has a consensus rating of "Hold" and a consensus target price of $307.70.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the firm's stock in a transaction that occurred 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 sale, the director directly owned 82,207 shares in the company, valued at approximately $24,492,753.58. This trade represents a 10.36% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.47% of the company's stock.

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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