Owen LaRue LLC Reduces Position in JPMorgan Chase & Co. (NYSE:JPM)

Owen LaRue LLC cut its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 13.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,753 shares of the financial services provider’s stock after selling 2,290 shares during the period. JPMorgan Chase & Co. comprises approximately 2.3% of Owen LaRue LLC’s investment portfolio, making the stock its 13th biggest holding. Owen LaRue LLC’s holdings in JPMorgan Chase & Co. were worth $2,163,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Ledyard National Bank lifted its position in JPMorgan Chase & Co. by 0.3% during the second quarter. Ledyard National Bank now owns 93,940 shares of the financial services provider’s stock valued at $13,663,000 after purchasing an additional 323 shares during the period. Nicholas Investment Partners LP lifted its position in JPMorgan Chase & Co. by 24.0% during the second quarter. Nicholas Investment Partners LP now owns 31,897 shares of the financial services provider’s stock valued at $4,639,000 after purchasing an additional 6,174 shares during the period. Private Advisor Group LLC lifted its position in JPMorgan Chase & Co. by 3.4% during the second quarter. Private Advisor Group LLC now owns 333,765 shares of the financial services provider’s stock valued at $49,351,000 after purchasing an additional 10,829 shares during the period. EagleClaw Capital Managment LLC lifted its position in JPMorgan Chase & Co. by 0.9% during the second quarter. EagleClaw Capital Managment LLC now owns 55,735 shares of the financial services provider’s stock valued at $8,106,000 after purchasing an additional 508 shares during the period. Finally, Nwam LLC lifted its position in JPMorgan Chase & Co. by 14.9% during the second quarter. Nwam LLC now owns 21,527 shares of the financial services provider’s stock valued at $3,131,000 after purchasing an additional 2,789 shares during the period. 68.94% of the stock is currently owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Stock Performance

JPMorgan Chase & Co. stock opened at $152.82 on Monday. The firm has a 50 day simple moving average of $145.05 and a 200-day simple moving average of $145.20. JPMorgan Chase & Co. has a 1-year low of $123.11 and a 1-year high of $159.38. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.90 and a quick ratio of 0.90. The stock has a market cap of $441.80 billion, a price-to-earnings ratio of 9.12, a price-to-earnings-growth ratio of 1.80 and a beta of 1.12.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Friday, October 13th. The financial services provider reported $4.33 earnings per share for the quarter, beating the consensus estimate of $3.95 by $0.38. JPMorgan Chase & Co. had a net margin of 22.79% and a return on equity of 17.97%. The business had revenue of $40.69 billion during the quarter, compared to analysts’ expectations of $39.63 billion. During the same quarter in the prior year, the company posted $3.12 EPS. The business’s revenue for the quarter was up 24.4% on a year-over-year basis. On average, analysts expect that JPMorgan Chase & Co. will post 16.67 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 31st. Stockholders of record on Friday, October 6th were paid a $1.05 dividend. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.00. The ex-dividend date was Thursday, October 5th. This represents a $4.20 annualized dividend and a dividend yield of 2.75%. JPMorgan Chase & Co.’s dividend payout ratio is 25.07%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on JPM. Evercore ISI upped their price objective on shares of JPMorgan Chase & Co. from $158.00 to $167.00 in a research report on Thursday, October 5th. StockNews.com began coverage on shares of JPMorgan Chase & Co. in a research report on Thursday, October 5th. They issued a “hold” rating for the company. BMO Capital Markets upped their price objective on shares of JPMorgan Chase & Co. from $167.00 to $171.00 and gave the stock a “market perform” rating in a research report on Monday, October 16th. Oppenheimer upped their price target on shares of JPMorgan Chase & Co. from $233.00 to $243.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Jefferies Financial Group reduced their price target on shares of JPMorgan Chase & Co. from $176.00 to $169.00 in a research report on Tuesday, October 10th. Nine equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $168.80.

Insider Activity

In related news, General Counsel Stacey Friedman sold 4,310 shares of the stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $144.86, for a total transaction of $624,346.60. Following the completion of the transaction, the general counsel now owns 53,425 shares of the company’s stock, valued at approximately $7,739,145.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.79% 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 (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services to consumers and small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services.