Shoker Investment Counsel Inc. trimmed its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 2.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 24,718 shares of the financial services provider’s stock after selling 547 shares during the period. JPMorgan Chase & Co. accounts for about 1.9% of Shoker Investment Counsel Inc.’s holdings, making the stock its 10th biggest holding. Shoker Investment Counsel Inc.’s holdings in JPMorgan Chase & Co. were worth $2,575,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also made changes to their positions in JPM. Manchester Capital Management LLC boosted its position in JPMorgan Chase & Co. by 69.1% during the 4th quarter. Manchester Capital Management LLC now owns 13,628 shares of the financial services provider’s stock worth $1,457,000 after purchasing an additional 5,570 shares during the period. Capital Planning Advisors LLC boosted its position in JPMorgan Chase & Co. by 18.9% during the 4th quarter. Capital Planning Advisors LLC now owns 11,803 shares of the financial services provider’s stock worth $1,262,000 after purchasing an additional 1,879 shares during the period. Independence Bank of Kentucky acquired a new position in JPMorgan Chase & Co. in the 4th quarter worth $3,499,000. Baugh & Associates LLC acquired a new position in JPMorgan Chase & Co. in the 4th quarter worth $4,139,000. Finally, Ausdal Financial Partners Inc. lifted its holdings in JPMorgan Chase & Co. by 5.8% in the 4th quarter. Ausdal Financial Partners Inc. now owns 12,442 shares of the financial services provider’s stock worth $1,331,000 after buying an additional 687 shares in the last quarter. 70.51% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have commented on the stock. Wolfe Research assumed coverage on shares of JPMorgan Chase & Co. in a report on Tuesday. They issued an “outperform” rating on the stock. Citigroup boosted their price objective on shares of JPMorgan Chase & Co. from $115.00 to $125.00 and gave the stock a “neutral” rating in a report on Wednesday. Zacks Investment Research upgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and set a $127.00 price objective on the stock in a report on Friday, September 14th. Bank of America boosted their price objective on shares of JPMorgan Chase & Co. from $126.00 to $132.00 and gave the stock a “buy” rating in a report on Monday, September 17th. Finally, DZ Bank upgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating in a report on Thursday, July 19th. Eleven analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $122.13.
Shares of JPMorgan Chase & Co. stock opened at $114.52 on Friday. The stock has a market capitalization of $399.45 billion, a PE ratio of 16.67, a P/E/G ratio of 1.90 and a beta of 1.16. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.18. JPMorgan Chase & Co. has a 1 year low of $94.91 and a 1 year high of $119.33.
JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Friday, July 13th. The financial services provider reported $2.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.22 by $0.07. The business had revenue of $27.75 billion for the quarter, compared to analyst estimates of $27.62 billion. JPMorgan Chase & Co. had a net margin of 22.80% and a return on equity of 13.18%. sell-side analysts forecast that JPMorgan Chase & Co. will post 9.17 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 31st. Stockholders of record on Friday, October 5th will be paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date is Thursday, October 4th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $0.56. JPMorgan Chase & Co.’s dividend payout ratio is 32.61%.
In other news, CEO Gordon Smith sold 30,725 shares of the company’s stock in a transaction dated Monday, July 23rd. The shares were sold at an average price of $114.01, for a total value of $3,502,957.25. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.73% of the company’s stock.
About JPMorgan Chase & Co.
JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking, and Asset & Wealth Management. The Consumer & Community Banking segment offers deposit and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; residential mortgages and home equity loans; and credit cards, payment processing services, auto loans and leases.
Further Reading: Why is the ex-dividend date different from the record date?
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