JPMorgan Chase & Co. $JPM Stake Cut by RBO & Co. LLC

RBO & Co. LLC decreased its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 29.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 76,377 shares of the financial services provider’s stock after selling 31,942 shares during the period. JPMorgan Chase & Co. accounts for 3.5% of RBO & Co. LLC’s investment portfolio, making the stock its 10th biggest position. RBO & Co. LLC’s holdings in JPMorgan Chase & Co. were worth $22,142,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in the stock. Harbor Asset Planning Inc. acquired a new position in JPMorgan Chase & Co. in the 2nd quarter valued at about $26,000. Mizuho Securities Co. Ltd. boosted its stake in shares of JPMorgan Chase & Co. by 450.0% during the 2nd quarter. Mizuho Securities Co. Ltd. now owns 110 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 90 shares during the last quarter. MJT & Associates Financial Advisory Group Inc. purchased a new stake in shares of JPMorgan Chase & Co. during the first quarter worth about $28,000. University of Illinois Foundation acquired a new position in shares of JPMorgan Chase & Co. in the first quarter valued at approximately $30,000. Finally, Ryan Investment Management Inc. acquired a new position in shares of JPMorgan Chase & Co. in the second quarter valued at approximately $37,000. 71.55% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Daiwa Capital Markets lifted their target price on shares of JPMorgan Chase & Co. from $330.00 to $332.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 8th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $366.00 price objective on shares of JPMorgan Chase & Co. in a research report on Tuesday, October 14th. 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. Royal Bank Of Canada restated a “buy” rating and issued a $343.00 price target on shares of JPMorgan Chase & Co. in a report on Tuesday, October 14th. Finally, Wall Street Zen upgraded shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Fifteen investment 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, the company has a consensus rating of “Hold” and an average target price of $326.38.

JPMorgan Chase & Co. Stock Performance

JPMorgan Chase & Co. stock opened at $313.26 on Monday. The company has a market cap of $852.78 billion, a price-to-earnings ratio of 15.52, a price-to-earnings-growth ratio of 1.84 and a beta of 1.14. JPMorgan Chase & Co. has a 12 month low of $202.16 and a 12 month high of $322.25. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.86 and a quick ratio of 0.88. The stock’s 50-day moving average is $306.89 and its 200-day moving average is $293.45.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $47.12 billion during the quarter, compared to analysts’ expectations of $44.42 billion. During the same quarter in the previous year, the business earned $4.37 EPS. The company’s revenue for the quarter was up 8.8% on a year-over-year basis. Equities analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Monday, October 6th were paid a $1.50 dividend. 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%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. JPMorgan Chase & Co.’s payout ratio is 29.72%.

Insiders Place Their Bets

In related news, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction 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 approximately $24,492,753.58. The trade was a 10.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Robin Leopold sold 966 shares of the stock in a transaction on Friday, November 7th. The shares were sold at an average price of $311.92, for a total value of $301,314.72. Following the completion of the sale, the insider owned 58,479 shares of the company’s stock, valued at approximately $18,240,769.68. This represents a 1.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.47% of the company’s stock.

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.