Costello Asset Management INC Sells 1,141 Shares of JPMorgan Chase & Co. $JPM

Costello Asset Management INC lessened its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 17.6% during the 2nd quarter, Holdings Channel.com reports. The firm owned 5,335 shares of the financial services provider’s stock after selling 1,141 shares during the period. Costello Asset Management INC’s holdings in JPMorgan Chase & Co. were worth $1,547,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. LCM Capital Management Inc lifted its stake in shares of JPMorgan Chase & Co. by 0.9% in the 2nd 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 during the period. jvl associates llc raised its stake in JPMorgan Chase & Co. by 1.7% during the 2nd quarter. jvl associates llc now owns 2,094 shares of the financial services provider’s stock worth $607,000 after acquiring an additional 36 shares during the period. Lakeshore Financial Planning Inc. raised its stake in JPMorgan Chase & Co. by 0.4% during the 2nd quarter. Lakeshore Financial Planning Inc. now owns 8,417 shares of the financial services provider’s stock worth $2,441,000 after acquiring an additional 37 shares during the period. Western Financial Corp CA raised its stake in JPMorgan Chase & Co. by 1.5% during the 2nd quarter. Western Financial Corp CA now owns 2,642 shares of the financial services provider’s stock worth $766,000 after acquiring an additional 38 shares during the period. Finally, Morey & Quinn Wealth Partners LLC raised its stake in JPMorgan Chase & Co. by 2.3% during the 2nd quarter. Morey & Quinn Wealth Partners LLC now owns 1,664 shares of the financial services provider’s stock worth $482,000 after acquiring an additional 38 shares during the period. Institutional investors own 71.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. DZ Bank restated a “neutral” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, October 15th. Zacks Research cut shares of JPMorgan Chase & Co. from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 8th. KGI Securities raised their target price on shares of JPMorgan Chase & Co. from $300.00 to $315.00 and gave the stock a “hold” rating in a research note on Wednesday, October 15th. Weiss Ratings restated a “buy (b+)” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, October 8th. Finally, Morgan Stanley raised their target price on shares of JPMorgan Chase & Co. from $336.00 to $338.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 15th. Fifteen analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, JPMorgan Chase & Co. has an average rating of “Hold” and a consensus price target of $322.86.

Insider Buying and Selling at JPMorgan Chase & Co.

In related news, Director Linda Bammann sold 9,500 shares of the firm’s stock in a transaction on 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 completion of the transaction, the director directly owned 82,207 shares of the company’s stock, valued at approximately $24,492,753.58. This trade represents a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.47% of the company’s stock.

JPMorgan Chase & Co. Stock Down 0.2%

Shares of JPM stock opened at $297.81 on Monday. The stock has a market cap of $818.91 billion, a P/E ratio of 14.75, a PEG 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 quick ratio of 0.88, a current ratio of 0.86 and a debt-to-equity ratio of 1.26. The company’s fifty day simple moving average is $302.82 and its two-hundred day simple moving average is $279.12.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $5.07 EPS for the quarter, topping the consensus estimate of $4.83 by $0.24. The business had revenue of $46.43 billion for the quarter, compared to analysts’ expectations of $44.42 billion. JPMorgan Chase & Co. had a net margin of 20.90% and a return on equity of 17.18%. The business’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.37 EPS. Analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, October 6th will be issued a $1.50 dividend. 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 29.72%.

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.