Capital Wealth Planning LLC trimmed its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 27.9% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 649,739 shares of the financial services provider’s stock after selling 251,495 shares during the period. JPMorgan Chase & Co. makes up approximately 3.1% of Capital Wealth Planning LLC’s investment portfolio, making the stock its 15th largest position. Capital Wealth Planning LLC’s holdings in JPMorgan Chase & Co. were worth $62,550,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of JPM. Laidlaw Wealth Management LLC raised its position in JPMorgan Chase & Co. by 20,306.8% during the second quarter. Laidlaw Wealth Management LLC now owns 2,810,830 shares of the financial services provider’s stock valued at $30,000 after buying an additional 2,797,056 shares during the period. Provident Wealth Management LLC acquired a new position in JPMorgan Chase & Co. in the 3rd quarter worth about $34,000. FAI Wealth Management increased its position in JPMorgan Chase & Co. by 317.0% in the 2nd quarter. FAI Wealth Management now owns 417 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 317 shares during the last quarter. Marshall & Sullivan Inc. WA acquired a new position in JPMorgan Chase & Co. in the 3rd quarter worth about $43,000. Finally, Eukles Asset Management increased its position in JPMorgan Chase & Co. by 28.7% in the 3rd quarter. Eukles Asset Management now owns 533 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 119 shares during the last quarter. 69.35% of the stock is currently owned by hedge funds and other institutional investors.
In other JPMorgan Chase & Co. news, insider Nicole Giles sold 2,281 shares of the firm’s stock in a transaction that occurred on Monday, October 26th. The stock was sold at an average price of $100.98, for a total value of $230,335.38. Also, CFO Jennifer Piepszak sold 3,297 shares of the stock in a transaction that occurred on Monday, October 26th. The stock was sold at an average price of $101.11, for a total value of $333,359.67. 0.78% of the stock is currently owned by company insiders.
JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Monday, October 19th. The financial services provider reported $2.92 EPS for the quarter, topping the Zacks’ consensus estimate of $2.23 by $0.69. JPMorgan Chase & Co. had a return on equity of 10.85% and a net margin of 19.16%. The company had revenue of $29.90 billion during the quarter, compared to the consensus estimate of $28.20 billion. During the same quarter last year, the company earned $2.68 EPS. The company’s quarterly revenue was up 4.0% on a year-over-year basis. Analysts anticipate that JPMorgan Chase & Co. will post 7.47 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Saturday, October 31st. Shareholders of record on Tuesday, October 6th were given a $0.90 dividend. The ex-dividend date of this dividend was Monday, October 5th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.14%. JPMorgan Chase & Co.’s dividend payout ratio is currently 34.35%.
Several research analysts have weighed in on JPM shares. The Goldman Sachs Group raised JPMorgan Chase & Co. from a “neutral” rating to a “buy” rating in a research report on Friday, July 24th. Morgan Stanley reaffirmed a “buy” rating and issued a $106.00 target price on shares of JPMorgan Chase & Co. in a research report on Monday, July 27th. Independent Research raised JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and upped their target price for the stock from $100.00 to $110.00 in a research report on Tuesday, September 29th. Keefe, Bruyette & Woods downgraded JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating and upped their price target for the stock from $125.00 to $130.00 in a research note on Wednesday. Finally, TheStreet upgraded JPMorgan Chase & Co. from a “c” rating to a “b-” rating in a research note on Tuesday, August 4th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $111.34.
About JPMorgan Chase & Co.
JPMorgan Chase & Co operates as a financial services company worldwide. It operates in 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.
Further Reading: What is a good rate of return for a mutual fund?
Want to see what other hedge funds are holding JPM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for JPMorgan Chase & Co. (NYSE:JPM).
Receive News & Ratings for JPMorgan Chase & Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for JPMorgan Chase & Co. and related companies with MarketBeat.com's FREE daily email newsletter.