JPMorgan Chase & Co. $JPM Shares Sold by Guardian Investment Management

Guardian Investment Management lowered its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 36.2% in the second quarter, HoldingsChannel reports. The firm owned 8,449 shares of the financial services provider’s stock after selling 4,800 shares during the quarter. JPMorgan Chase & Co. makes up approximately 2.4% of Guardian Investment Management’s holdings, making the stock its 11th largest holding. Guardian Investment Management’s holdings in JPMorgan Chase & Co. were worth $2,449,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in JPM. Kingstone Capital Partners Texas LLC boosted its position in JPMorgan Chase & Co. by 609,867.5% during the 2nd 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 purchasing an additional 72,885,260 shares during the period. Nuveen LLC bought a new stake in JPMorgan Chase & Co. during the 1st quarter valued at $3,972,807,000. National Bank of Canada FI raised its stake in JPMorgan Chase & Co. by 44.4% during the 1st quarter. National Bank of Canada FI now owns 4,518,740 shares of the financial services provider’s stock valued at $1,108,415,000 after acquiring an additional 1,388,992 shares in the last quarter. Strs Ohio bought a new stake in JPMorgan Chase & Co. during the 1st quarter valued at $279,389,000. Finally, Alecta Tjanstepension Omsesidigt bought a new stake in JPMorgan Chase & Co. during the 1st quarter valued at $278,493,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on JPM. Hsbc Global Res downgraded JPMorgan Chase & Co. from a “hold” rating to a “moderate sell” rating in a research note on Tuesday, July 8th. The Goldman Sachs Group set a $330.00 target price on JPMorgan Chase & Co. in a research note on Tuesday. Deutsche Bank Aktiengesellschaft lifted their target price on JPMorgan Chase & Co. from $300.00 to $320.00 and gave the company a “hold” rating in a research note on Tuesday. Zacks Research downgraded JPMorgan Chase & Co. from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 8th. Finally, Bank of America lifted their target price on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the company a “buy” rating in a research note on Wednesday, July 16th. Thirteen equities research 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.com, the stock presently has an average rating of “Hold” and an average target price of $303.45.

JPMorgan Chase & Co. Stock Down 1.0%

JPM opened at $307.65 on Friday. JPMorgan Chase & Co. has a one year low of $202.16 and a one year high of $318.01. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.88 and a current ratio of 0.88. The stock’s fifty day moving average is $300.44 and its 200-day moving average is $273.96. The company has a market capitalization of $845.96 billion, a PE ratio of 15.79, a P/E/G ratio of 2.05 and a beta of 1.13.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, topping analysts’ consensus estimates of $4.48 by $0.48. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.The company had revenue of $44.91 billion for the quarter, compared to the consensus estimate of $43.76 billion. During the same quarter in the previous year, the business earned $6.12 EPS. The company’s quarterly revenue was down 10.5% compared to the same quarter last year. On average, equities analysts predict 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 will be paid on Friday, October 31st. Stockholders 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 dividend yield of 2.0%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Monday, October 6th. JPMorgan Chase & Co.’s payout ratio is presently 28.73%.

Insider Activity

In other news, Director Linda Bammann sold 9,500 shares of the business’s stock in a transaction 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 sale, the director directly owned 82,207 shares of the company’s stock, valued at $24,492,753.58. The trade was 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 this link. 0.47% of the stock is owned by company insiders.

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.