First Fiduciary Investment Counsel Inc. decreased its position in JPMorgan Chase & Co. (NYSE:JPM) by 1.3% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 132,411 shares of the financial services provider’s stock after selling 1,809 shares during the quarter. JPMorgan Chase & Co. makes up 7.6% of First Fiduciary Investment Counsel Inc.’s portfolio, making the stock its 2nd biggest holding. First Fiduciary Investment Counsel Inc.’s holdings in JPMorgan Chase & Co. were worth $38,387,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of JPM. Florida Financial Advisors LLC increased its position in JPMorgan Chase & Co. by 62.5% in the first quarter. Florida Financial Advisors LLC now owns 9,863 shares of the financial services provider’s stock worth $2,416,000 after buying an additional 3,792 shares in the last quarter. Crown Wealth Group LLC increased its position in JPMorgan Chase & Co. by 5.4% in the first quarter. Crown Wealth Group LLC now owns 4,320 shares of the financial services provider’s stock worth $1,060,000 after buying an additional 222 shares in the last quarter. Mosaic Financial Group LLC increased its position in JPMorgan Chase & Co. by 0.8% in the first quarter. Mosaic Financial Group LLC now owns 9,296 shares of the financial services provider’s stock worth $2,280,000 after buying an additional 78 shares in the last quarter. Morse Asset Management Inc increased its position in JPMorgan Chase & Co. by 19.5% in the first quarter. Morse Asset Management Inc now owns 2,569 shares of the financial services provider’s stock worth $630,000 after buying an additional 420 shares in the last quarter. Finally, Hidden Cove Wealth Management LLC increased its position in JPMorgan Chase & Co. by 4.2% in the first quarter. Hidden Cove Wealth Management LLC now owns 2,758 shares of the financial services provider’s stock worth $677,000 after buying an additional 112 shares in the last quarter. Institutional investors own 71.55% of the company’s stock.
Analyst Ratings Changes
JPM has been the subject of a number of analyst reports. Zacks Research cut JPMorgan Chase & Co. from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 8th. Phillip Securities cut JPMorgan Chase & Co. from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, July 16th. Weiss Ratings reiterated a “buy (b+)” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, October 8th. Citigroup increased their target price on JPMorgan Chase & Co. from $275.00 to $325.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 24th. Finally, Cowen reiterated a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, July 16th. Fifteen equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $322.86.
Insiders Place Their Bets
In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the completion of the transaction, the director owned 82,207 shares in the company, 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 available through this link. 0.47% of the stock is owned by corporate insiders.
JPMorgan Chase & Co. Stock Performance
NYSE JPM opened at $297.81 on Monday. The stock has a market capitalization of $818.91 billion, a PE ratio of 14.75, a P/E/G ratio of 1.80 and a beta of 1.13. The business has a 50 day simple moving average of $302.82 and a two-hundred day simple moving average of $279.12. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.86 and a quick ratio of 0.88. JPMorgan Chase & Co. has a 1-year low of $202.16 and a 1-year high of $318.01.
JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last released its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share for the quarter, beating the consensus estimate of $4.83 by $0.24. The business had revenue of $46.43 billion during the quarter, compared to analysts’ expectations of $44.42 billion. JPMorgan Chase & Co. had a return on equity of 17.18% and a net margin of 20.90%.The firm’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter last year, the business posted $4.37 EPS. On average, research analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.
JPMorgan Chase & Co. Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, October 6th will be issued a dividend of $1.50 per share. The ex-dividend date 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 dividend payout ratio (DPR) is 29.72%.
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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