JPMorgan Chase & Co. $JPM Stock Position Cut by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. decreased its position in JPMorgan Chase & Co. (NYSE:JPM) by 1.2% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 437,680 shares of the financial services provider’s stock after selling 5,344 shares during the period. JPMorgan Chase & Co. comprises 1.8% of Pinnacle Associates Ltd.’s investment portfolio, making the stock its 6th biggest position. Pinnacle Associates Ltd.’s holdings in JPMorgan Chase & Co. were worth $126,888,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. FWG Investments LLC. acquired a new stake in shares of JPMorgan Chase & Co. during the 2nd quarter valued at about $267,000. Mesirow Financial Investment Management Inc. raised its holdings in JPMorgan Chase & Co. by 1.1% in the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 319,311 shares of the financial services provider’s stock worth $92,569,000 after purchasing an additional 3,333 shares during the period. Simon Quick Advisors LLC boosted its position in JPMorgan Chase & Co. by 70.6% during the second quarter. Simon Quick Advisors LLC now owns 52,680 shares of the financial services provider’s stock worth $15,273,000 after purchasing an additional 21,798 shares in the last quarter. REDW Wealth LLC acquired a new stake in JPMorgan Chase & Co. in the second quarter valued at approximately $210,000. Finally, Coign Capital Advisors LLC increased its position in shares of JPMorgan Chase & Co. by 1.2% in the second quarter. Coign Capital Advisors LLC now owns 2,854 shares of the financial services provider’s stock valued at $827,000 after buying an additional 35 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on JPM shares. Zacks Research upgraded JPMorgan Chase & Co. from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 20th. Wall Street Zen raised shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a report on Saturday. Keefe, Bruyette & Woods boosted their target price on shares of JPMorgan Chase & Co. from $330.00 to $354.00 and gave the stock an “outperform” rating in a research note on Friday, October 10th. The Goldman Sachs Group restated a “buy” rating and set a $366.00 price target on shares of JPMorgan Chase & Co. in a research report on Tuesday, October 14th. Finally, Daiwa Capital Markets lifted their price objective on JPMorgan Chase & Co. from $330.00 to $332.00 and gave the stock an “outperform” rating in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $326.38.

JPMorgan Chase & Co. Trading Up 0.3%

JPM opened at $314.30 on Monday. The firm has a market capitalization of $855.62 billion, a price-to-earnings ratio of 15.57, a price-to-earnings-growth ratio of 1.84 and a beta of 1.14. The company’s 50 day simple moving average is $306.18 and its two-hundred day simple moving average is $287.61. JPMorgan Chase & Co. has a 1-year low of $202.16 and a 1-year high of $318.01. 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. (NYSE:JPM) last posted its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $5.07 EPS for the quarter, beating the consensus estimate of $4.83 by $0.24. JPMorgan Chase & Co. had a return on equity of 17.18% and a net margin of 20.90%.The firm had revenue of $46.43 billion during the quarter, compared to analysts’ expectations of $44.42 billion. During the same quarter last year, the firm earned $4.37 earnings per share. The business’s revenue for the quarter was up 8.8% on a year-over-year basis. 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 announced a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Monday, October 6th were paid a $1.50 dividend. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend was Monday, October 6th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.9%. JPMorgan Chase & Co.’s dividend payout ratio is 29.72%.

Insider Buying and Selling at JPMorgan Chase & Co.

In related news, insider Robin Leopold sold 966 shares of the firm’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $311.92, for a total transaction of $301,314.72. Following the completion of the sale, the insider directly owned 58,479 shares in the company, valued at approximately $18,240,769.68. This trade represents a 1.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Linda Bammann sold 9,500 shares of the business’s stock in a transaction dated 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 completion of the transaction, the director owned 82,207 shares in the company, valued at $24,492,753.58. The trade was a 10.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.47% of the stock is owned by insiders.

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.