JPMorgan Chase & Co. $JPM Position Reduced by Gilliland Jeter Wealth Management LLC

Gilliland Jeter Wealth Management LLC lessened its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 0.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 24,586 shares of the financial services provider’s stock after selling 207 shares during the quarter. JPMorgan Chase & Co. accounts for 2.3% of Gilliland Jeter Wealth Management LLC’s investment portfolio, making the stock its 10th biggest position. Gilliland Jeter Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $7,128,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the company. Kingstone Capital Partners Texas LLC increased its position in shares of JPMorgan Chase & Co. by 609,867.5% in the second quarter. Kingstone Capital Partners Texas LLC now owns 72,897,211 shares of the financial services provider’s stock valued at $21,133,630,000 after acquiring an additional 72,885,260 shares during the period. Bank of New York Mellon Corp increased its position in shares of JPMorgan Chase & Co. by 1.9% in the first quarter. Bank of New York Mellon Corp now owns 24,801,153 shares of the financial services provider’s stock valued at $6,083,723,000 after acquiring an additional 454,226 shares during the period. Goldman Sachs Group Inc. increased its position in shares of JPMorgan Chase & Co. by 2.7% during the first quarter. Goldman Sachs Group Inc. now owns 20,548,182 shares of the financial services provider’s stock valued at $5,040,469,000 after buying an additional 548,853 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of JPMorgan Chase & Co. by 5.1% during the first 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 valued at $4,523,588,000 after buying an additional 890,553 shares during the period. Finally, Nuveen LLC purchased a new position in shares of JPMorgan Chase & Co. during the first quarter valued at about $3,972,807,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Trading Down 0.2%

Shares of NYSE JPM opened at $297.81 on Friday. The firm’s 50 day moving average price is $302.82 and its 200-day moving average price is $278.77. The company has a market cap of $818.91 billion, a PE ratio of 14.75, a P/E/G ratio of 1.80 and a beta of 1.13. JPMorgan Chase & Co. has a 52-week low of $202.16 and a 52-week high of $318.01. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.86.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share for the quarter, beating analysts’ consensus estimates of $4.83 by $0.24. The company had revenue of $46.43 billion for the quarter, compared to the consensus estimate of $44.42 billion. JPMorgan Chase & Co. had a net margin of 20.90% and a return on equity of 17.18%. The firm’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.37 earnings per share. On average, equities research analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, October 6th will be given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 2.0%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. The ex-dividend date is Monday, October 6th. JPMorgan Chase & Co.’s payout ratio is currently 29.72%.

Insiders Place Their Bets

In related news, Director Linda Bammann sold 9,500 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the transaction, the director owned 82,207 shares in the company, valued at $24,492,753.58. This represents a 10.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.47% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on JPM. Keefe, Bruyette & Woods boosted their price target on shares of JPMorgan Chase & Co. from $330.00 to $354.00 and gave the company an “outperform” rating in a research report on Friday, October 10th. Royal Bank Of Canada reiterated a “buy” rating and set a $343.00 price target on shares of JPMorgan Chase & Co. in a research report on Tuesday, October 14th. Hsbc Global Res cut shares of JPMorgan Chase & Co. from a “hold” rating to a “moderate sell” rating in a research report on Tuesday, July 8th. Weiss Ratings reiterated a “buy (b+)” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, October 8th. Finally, Zacks Research lowered shares of JPMorgan Chase & Co. from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 8th. Fifteen research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, JPMorgan Chase & Co. presently has an average rating of “Hold” and an average price target of $319.40.

About JPMorgan Chase & Co.

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.