Single Point Partners LLC Trims Stake in JPMorgan Chase & Co. $JPM

Single Point Partners LLC reduced its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 2.8% in the second quarter, Holdings Channel reports. The institutional investor owned 4,803 shares of the financial services provider’s stock after selling 136 shares during the period. Single Point Partners LLC’s holdings in JPMorgan Chase & Co. were worth $1,392,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. LCM Capital Management Inc increased its stake in shares of JPMorgan Chase & Co. by 0.9% in the second quarter. LCM Capital Management Inc now owns 3,847 shares of the financial services provider’s stock worth $1,115,000 after purchasing an additional 36 shares in the last quarter. jvl associates llc increased its stake in shares of JPMorgan Chase & Co. by 1.7% in the second quarter. jvl associates llc now owns 2,094 shares of the financial services provider’s stock worth $607,000 after purchasing an additional 36 shares in the last quarter. Lakeshore Financial Planning Inc. increased its stake in shares of JPMorgan Chase & Co. by 0.4% in the second quarter. Lakeshore Financial Planning Inc. now owns 8,417 shares of the financial services provider’s stock worth $2,441,000 after purchasing an additional 37 shares in the last quarter. Western Financial Corp CA increased its stake in shares of JPMorgan Chase & Co. by 1.5% in the second quarter. Western Financial Corp CA now owns 2,642 shares of the financial services provider’s stock worth $766,000 after purchasing an additional 38 shares in the last quarter. Finally, First Command Advisory Services Inc. increased its stake in shares of JPMorgan Chase & Co. by 0.4% in the first quarter. First Command Advisory Services Inc. now owns 9,306 shares of the financial services provider’s stock worth $2,283,000 after purchasing an additional 40 shares in the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on JPM. Robert W. Baird cut shares of JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $235.00 price objective for the company. in a research note on Friday, June 27th. Citigroup increased their price objective on shares of JPMorgan Chase & Co. from $275.00 to $325.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 24th. Deutsche Bank Aktiengesellschaft increased 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 note on Tuesday, September 30th. UBS Group upped their target price on shares of JPMorgan Chase & Co. from $339.00 to $350.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Hsbc Global Res lowered shares of JPMorgan Chase & Co. from a “hold” rating to a “moderate sell” rating in a research report on Tuesday, July 8th. Fourteen 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’s stock. Based on data from MarketBeat, JPMorgan Chase & Co. has a consensus rating of “Hold” and a consensus target price of $313.89.

Insider Buying and Selling

In related news, Director Linda Bammann sold 9,500 shares of the firm’s stock in a transaction dated 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 transaction, the director owned 82,207 shares of the company’s stock, valued at $24,492,753.58. This trade represents a 10.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.47% of the stock is owned by corporate insiders.

JPMorgan Chase & Co. Trading Down 1.4%

JPM stock opened at $301.12 on Friday. The company has a market capitalization of $828.00 billion, a PE ratio of 15.45, a P/E/G ratio of 1.97 and a beta of 1.13. JPMorgan Chase & Co. has a 12 month low of $202.16 and a 12 month high of $318.01. The firm’s 50-day moving average is $301.61 and its 200 day moving average is $276.60. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.88.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results 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 for 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%. The firm’s revenue was down 10.5% compared to the same quarter last year. During the same quarter last year, the firm posted $6.12 EPS. On average, research analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS 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 paid a $1.50 dividend. The ex-dividend date of this dividend is Monday, October 6th. This represents a $6.00 annualized dividend and a yield of 2.0%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. JPMorgan Chase & Co.’s payout ratio is 30.79%.

JPMorgan Chase & Co. 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.