Woodstock Corp Reduces Holdings in JPMorgan Chase & Co. $JPM

Key Points

• Woodstock Corp reduced its stake in JPMorgan Chase & Co. by 2.6%, owning approximately 68,926 shares worth $19,982,000 as of the latest filing.
• JPMorgan recently declared an increased quarterly dividend of $1.50, up from $1.40, representing a 1.9% yield for investors.
• The stock has a current consensus rating of "Moderate Buy" with a target price average of $292.78, despite recent downgrades from some analysts.

Woodstock Corp trimmed its stake in JPMorgan Chase & Co. (NYSE:JPM) by 2.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 68,926 shares of the financial services provider's stock after selling 1,872 shares during the period. JPMorgan Chase & Co. makes up 1.8% of Woodstock Corp's investment portfolio, making the stock its 12th largest holding. Woodstock Corp's holdings in JPMorgan Chase & Co. were worth $19,982,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. MJT & Associates Financial Advisory Group Inc. purchased a new position in JPMorgan Chase & Co. during the 1st quarter worth $28,000. University of Illinois Foundation purchased a new position in JPMorgan Chase & Co. during the 1st quarter worth $30,000. Curat Global LLC purchased a new position in JPMorgan Chase & Co. during the 1st quarter worth $33,000. Capital A Wealth Management LLC purchased a new position in JPMorgan Chase & Co. during the 4th quarter worth $64,000. Finally, Mpwm Advisory Solutions LLC purchased a new position in JPMorgan Chase & Co. during the 4th quarter worth $72,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Phillip Securities downgraded shares of JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, July 16th. Morgan Stanley lifted their target price on shares of JPMorgan Chase & Co. from $296.00 to $298.00 and gave the company an "equal weight" rating in a report on Wednesday, July 16th. HSBC reaffirmed a "reduce" rating and issued a $259.00 target price on shares of JPMorgan Chase & Co. in a report on Tuesday, July 8th. Bank of America lifted their target price on shares of JPMorgan Chase & Co. from $330.00 to $340.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. Finally, Citigroup set a $275.00 target price on shares of JPMorgan Chase & Co. and gave the company a "buy" rating in a report on Monday, July 7th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $292.78.

Insider Transactions at JPMorgan Chase & Co.

In related news, Director Linda Bammann sold 9,500 shares of the company's stock in a transaction 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 sale, the director directly owned 82,207 shares of the company's stock, valued at $24,492,753.58. This represents a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.47% of the stock is owned by corporate insiders.

JPMorgan Chase & Co. Price Performance

JPM opened at $309.19 on Wednesday. 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. has a 52-week low of $202.16 and a 52-week high of $310.90. The company has a 50 day moving average of $294.81 and a two-hundred day moving average of $268.04. The company has a market cap of $850.20 billion, a P/E ratio of 15.86, a P/E/G ratio of 2.05 and a beta of 1.13.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, topping analysts' consensus estimates of $4.48 by $0.48. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The business 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 company posted $6.12 earnings per share. The business's revenue for the quarter was down 10.5% compared to the same quarter last year. On average, analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared 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. This represents a $6.00 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Monday, October 6th. JPMorgan Chase & Co.'s dividend payout ratio is currently 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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