TBH Global Asset Management LLC Sells 6,347 Shares of JPMorgan Chase & Co. $JPM

Key Points

• TBH Global Asset Management LLC reduced its stake in JPMorgan Chase & Co. by 29.0%, selling 6,347 shares and now holds approximately $4.49 million worth of stock.
• JPMorgan Chase & Co. has seen recent analyst activity, with 13 analysts giving a buy rating and a price target increase to $330.00 from various institutions.
• The company announced a quarterly dividend increase from $1.40 to $1.50 per share, representing an annualized yield of 1.9%.

TBH Global Asset Management LLC cut its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 29.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,502 shares of the financial services provider's stock after selling 6,347 shares during the quarter. JPMorgan Chase & Co. comprises approximately 0.5% of TBH Global Asset Management LLC's portfolio, making the stock its 19th biggest position. TBH Global Asset Management LLC's holdings in JPMorgan Chase & Co. were worth $4,494,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. MJT & Associates Financial Advisory Group Inc. bought a new stake in JPMorgan Chase & Co. in the 1st quarter worth about $28,000. University of Illinois Foundation bought a new stake in JPMorgan Chase & Co. in the 1st quarter worth about $30,000. Curat Global LLC bought a new stake in JPMorgan Chase & Co. in the 1st quarter worth about $33,000. Ryan Investment Management Inc. bought a new stake in JPMorgan Chase & Co. in the 2nd quarter worth about $37,000. Finally, Christopher J. Hasenberg Inc increased its holdings in JPMorgan Chase & Co. by 212.0% in 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 in the last quarter. 71.55% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Royal Bank Of Canada reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a report on Thursday, September 11th. Phillip Securities downgraded JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a report on Wednesday, July 16th. Evercore ISI lifted their price objective on JPMorgan Chase & Co. from $309.00 to $330.00 and gave the stock an "outperform" rating in a report on Tuesday. Cowen restated a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, July 16th. Finally, Keefe, Bruyette & Woods boosted their price target on JPMorgan Chase & Co. from $327.00 to $330.00 and gave the company an "outperform" rating in a research note on Wednesday, July 16th. Thirteen equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $303.45.

Insider Buying and Selling

In related news, Director Linda Bammann sold 9,500 shares of the business's stock in a transaction that occurred on 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 transaction, the director directly 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Stock Down 1.5%

JPM stock opened at $310.82 on Thursday. JPMorgan Chase & Co. has a twelve month low of $202.16 and a twelve month high of $318.01. 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 stock has a market cap of $854.68 billion, a P/E ratio of 15.95, a PEG ratio of 2.08 and a beta of 1.13. The business's 50-day moving average price is $300.22 and its 200-day moving average price is $273.45.

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 analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $43.76 billion. During the same period in the previous year, the firm earned $6.12 EPS. The business's quarterly revenue was down 10.5% on a year-over-year basis. On average, equities research analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

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

JPMorgan Chase & Co. Company 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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