Exchange Capital Management Inc. Trims Stake in JPMorgan Chase & Co. $JPM

Exchange Capital Management Inc. lowered its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 32,762 shares of the financial services provider’s stock after selling 563 shares during the quarter. JPMorgan Chase & Co. comprises 1.4% of Exchange Capital Management Inc.’s portfolio, making the stock its 19th largest position. Exchange Capital Management Inc.’s holdings in JPMorgan Chase & Co. were worth $9,498,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Brighton Jones LLC grew its holdings in JPMorgan Chase & Co. by 11.0% in the fourth quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider’s stock worth $11,682,000 after purchasing an additional 4,841 shares during the period. GAMMA Investing LLC grew its holdings in JPMorgan Chase & Co. by 5.8% in the first quarter. GAMMA Investing LLC now owns 96,029 shares of the financial services provider’s stock worth $23,556,000 after purchasing an additional 5,296 shares during the period. Gibson Capital LLC grew its holdings in JPMorgan Chase & Co. by 6.2% in the first quarter. Gibson Capital LLC now owns 1,446 shares of the financial services provider’s stock worth $355,000 after purchasing an additional 84 shares during the period. Moseley Investment Management Inc. grew its holdings in JPMorgan Chase & Co. by 0.7% in the first quarter. Moseley Investment Management Inc. now owns 18,712 shares of the financial services provider’s stock worth $4,590,000 after purchasing an additional 122 shares during the period. Finally, Atwood & Palmer Inc. grew its holdings in JPMorgan Chase & Co. by 24.3% in the first quarter. Atwood & Palmer Inc. now owns 8,949 shares of the financial services provider’s stock worth $2,195,000 after purchasing an additional 1,748 shares during the period. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Up 0.4%

Shares of JPMorgan Chase & Co. stock opened at $305.35 on Friday. The company has a market cap of $839.64 billion, a price-to-earnings ratio of 15.67, a price-to-earnings-growth ratio of 1.96 and a beta of 1.13. The company’s 50 day moving average is $301.37 and its 200 day moving average is $276.26. JPMorgan Chase & Co. has a twelve month low of $202.16 and a twelve month high of $318.01. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.25.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share for the quarter, beating analysts’ consensus estimates of $4.48 by $0.48. The company had revenue of $44.91 billion for the quarter, compared to the consensus estimate of $43.76 billion. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The firm’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $6.12 earnings per share. Research analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors 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 yield of 2.0%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. The ex-dividend date is Monday, October 6th. JPMorgan Chase & Co.’s payout ratio is currently 30.79%.

Insiders Place Their Bets

In related news, Director Linda Bammann sold 9,500 shares of the stock in a transaction that occurred 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 $24,492,753.58. This represents 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 the SEC website. 0.47% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on JPM shares. Weiss Ratings restated a “buy (b+)” rating on shares of JPMorgan Chase & Co. in a report on Wednesday. Robert W. Baird cut shares of JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $235.00 price target on the stock. in a report on Friday, June 27th. Bank of America increased their price target on shares of JPMorgan Chase & Co. from $330.00 to $340.00 and gave the company a “buy” rating in a report on Wednesday, July 16th. UBS Group increased their price target on shares of JPMorgan Chase & Co. from $339.00 to $350.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Citigroup increased their price target on shares of JPMorgan Chase & Co. from $275.00 to $325.00 and gave the company a “neutral” rating in a report on Wednesday, September 24th. Fourteen investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $313.89.

About JPMorgan Chase & Co.

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.