Trivium Point Advisory LLC Sells 959 Shares of JPMorgan Chase & Co. $JPM

Key Points

• Trivium Point Advisory LLC reduced its stake in JPMorgan Chase & Co. by 2.4%, now holding 38,347 shares valued at approximately $11.1 million, making it their 11th largest holding.
• Institutional ownership of JPMorgan Chase & Co. is high, with over 71.55% owned by various institutional investors who have adjusted their stakes significantly in recent quarters.
• JPMorgan Chase & Co. has increased its quarterly dividend from $1.40 to $1.50, reflecting a commitment to returning value to shareholders amid fluctuating revenue and earnings reports.

Trivium Point Advisory LLC cut its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 2.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 38,347 shares of the financial services provider's stock after selling 959 shares during the period. JPMorgan Chase & Co. makes up 1.2% of Trivium Point Advisory LLC's holdings, making the stock its 11th biggest holding. Trivium Point Advisory LLC's holdings in JPMorgan Chase & Co. were worth $11,117,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Kingstone Capital Partners Texas LLC increased its position in shares of 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 worth $21,133,630,000 after acquiring an additional 72,885,260 shares in the last quarter. Bank of New York Mellon Corp grew its position in JPMorgan Chase & Co. by 1.9% in the 1st quarter. Bank of New York Mellon Corp now owns 24,801,153 shares of the financial services provider's stock worth $6,083,723,000 after purchasing an additional 454,226 shares in the last quarter. Goldman Sachs Group Inc. grew its position in JPMorgan Chase & Co. by 2.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 20,548,182 shares of the financial services provider's stock worth $5,040,469,000 after purchasing an additional 548,853 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in JPMorgan Chase & Co. by 5.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 18,441,044 shares of the financial services provider's stock worth $4,523,588,000 after purchasing an additional 890,553 shares in the last quarter. Finally, Nuveen LLC bought a new stake in JPMorgan Chase & Co. in the 1st quarter worth about $3,972,807,000. 71.55% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. 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. Weiss Ratings reaffirmed a "buy (b+)" rating on shares of JPMorgan Chase & Co. in a research report on Saturday, September 27th. Baird R W downgraded shares of JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a research report on Friday, June 27th. HSBC reaffirmed a "reduce" rating and issued a $259.00 price objective on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 8th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of JPMorgan Chase & Co. from $300.00 to $320.00 and gave the stock a "hold" rating in a research report on Tuesday, September 30th. Fifteen research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $307.70.

Insider Buying and Selling

In related 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 value of $2,830,430.00. Following the completion of the transaction, the director directly owned 82,207 shares of the company's stock, valued at approximately $24,492,753.58. This trade represents a 10.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Stock Up 0.8%

JPMorgan Chase & Co. stock opened at $309.89 on Monday. JPMorgan Chase & Co. has a twelve month low of $202.16 and a twelve month high of $318.01. The firm has a 50 day moving average price of $300.67 and a 200-day moving average price of $274.97. The company has a market capitalization of $852.11 billion, a P/E ratio of 15.90, a P/E/G ratio of 2.04 and a beta of 1.13. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.25.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its quarterly earnings data 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 company had revenue of $44.91 billion during 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%. JPMorgan Chase & Co.'s revenue for the quarter was down 10.5% on a year-over-year basis. During the same period last year, the firm earned $6.12 EPS. As a group, equities analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current 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 issued a $1.50 dividend. This is a boost from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Monday, October 6th. This represents a $6.00 annualized dividend and a yield of 1.9%. JPMorgan Chase & Co.'s payout ratio is 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.

Want to see what other hedge funds are holding JPM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for JPMorgan Chase & Co. (NYSE:JPM - Free Report).

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.