Optimum Investment Advisors Reduces Stake in JPMorgan Chase & Co. (NYSE:JPM)

Optimum Investment Advisors lowered its stake in JPMorgan Chase & Co. (NYSE:JPM) by 0.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,537 shares of the financial services provider’s stock after selling 218 shares during the period. JPMorgan Chase & Co. makes up approximately 1.1% of Optimum Investment Advisors’ investment portfolio, making the stock its 15th biggest position. Optimum Investment Advisors’ holdings in JPMorgan Chase & Co. were worth $3,526,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in JPM. Harvey Investment Co. LLC boosted its position in shares of JPMorgan Chase & Co. by 0.4% during the second quarter. Harvey Investment Co. LLC now owns 21,596 shares of the financial services provider’s stock valued at $2,414,000 after buying an additional 90 shares during the period. CMH Wealth Management LLC boosted its position in shares of JPMorgan Chase & Co. by 0.4% during the second quarter. CMH Wealth Management LLC now owns 25,978 shares of the financial services provider’s stock valued at $2,904,000 after buying an additional 95 shares during the period. Adirondack Trust Co. boosted its position in shares of JPMorgan Chase & Co. by 0.5% during the fourth quarter. Adirondack Trust Co. now owns 20,026 shares of the financial services provider’s stock valued at $1,955,000 after buying an additional 99 shares during the period. Comprehensive Portfolio Management LLC boosted its position in shares of JPMorgan Chase & Co. by 1.3% during the second quarter. Comprehensive Portfolio Management LLC now owns 8,005 shares of the financial services provider’s stock valued at $895,000 after buying an additional 99 shares during the period. Finally, Navellier & Associates Inc boosted its position in shares of JPMorgan Chase & Co. by 4.8% during the second quarter. Navellier & Associates Inc now owns 2,181 shares of the financial services provider’s stock valued at $244,000 after buying an additional 100 shares during the period. Institutional investors own 71.59% of the company’s stock.

Several research analysts have issued reports on the company. Zacks Investment Research lowered JPMorgan Chase & Co. from a “buy” rating to a “hold” rating in a research report on Tuesday, May 14th. Royal Bank of Canada restated a “buy” rating and set a $120.00 target price on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 16th. ValuEngine lowered JPMorgan Chase & Co. from a “hold” rating to a “sell” rating in a research report on Thursday, August 8th. Morgan Stanley set a $122.00 price target on shares of JPMorgan Chase & Co. and gave the company a “buy” rating in a research note on Friday, August 9th. Finally, Goldman Sachs Group reaffirmed a “neutral” rating and set a $117.00 price target on shares of JPMorgan Chase & Co. in a research note on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $122.32.

In related news, EVP Peter Scher sold 10,816 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $115.00, for a total value of $1,243,840.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Lori A. Beer sold 13,341 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $114.28, for a total transaction of $1,524,609.48. Following the completion of the transaction, the insider now directly owns 10,130 shares of the company’s stock, valued at approximately $1,157,656.40. The disclosure for this sale can be found here. Insiders own 0.76% of the company’s stock.

JPMorgan Chase & Co. stock opened at $106.49 on Wednesday. The company’s 50 day moving average is $112.92. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.22. JPMorgan Chase & Co. has a fifty-two week low of $91.11 and a fifty-two week high of $119.24. The company has a market capitalization of $344.31 billion, a P/E ratio of 11.83, a PEG ratio of 1.58 and a beta of 1.16.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $2.82 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.50 by $0.32. JPMorgan Chase & Co. had a net margin of 24.73% and a return on equity of 14.40%. The firm had revenue of $28.83 billion during the quarter, compared to the consensus estimate of $28.52 billion. During the same quarter in the previous year, the firm posted $2.29 earnings per share. The company’s revenue was up 3.9% on a year-over-year basis. As a group, research analysts expect that JPMorgan Chase & Co. will post 9.92 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Friday, July 5th were paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 3.01%. The ex-dividend date of this dividend was Wednesday, July 3rd. JPMorgan Chase & Co.’s dividend payout ratio is presently 35.56%.

JPMorgan Chase & Co. Profile

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit card, payment processing, auto loan, and leasing services.

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Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

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