Sigma Planning Corp Reduces Holdings in JPMorgan Chase & Co. $JPM

Sigma Planning Corp cut its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 8.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 66,359 shares of the financial services provider’s stock after selling 6,273 shares during the period. JPMorgan Chase & Co. accounts for 0.6% of Sigma Planning Corp’s investment portfolio, making the stock its 23rd biggest position. Sigma Planning Corp’s holdings in JPMorgan Chase & Co. were worth $19,238,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. JFS Wealth Advisors LLC raised its holdings in shares of JPMorgan Chase & Co. by 0.4% in the 2nd quarter. JFS Wealth Advisors LLC now owns 7,897 shares of the financial services provider’s stock valued at $2,290,000 after acquiring an additional 35 shares in the last quarter. Cottonwood Capital Advisors LLC boosted its stake in shares of JPMorgan Chase & Co. by 0.9% in the 2nd quarter. Cottonwood Capital Advisors LLC now owns 3,837 shares of the financial services provider’s stock valued at $1,112,000 after purchasing an additional 35 shares in the last quarter. Coign Capital Advisors LLC boosted its position in JPMorgan Chase & Co. by 1.2% during the second quarter. Coign Capital Advisors LLC now owns 2,854 shares of the financial services provider’s stock valued at $827,000 after buying an additional 35 shares during the period. LCM Capital Management Inc grew its position in JPMorgan Chase & Co. by 0.9% during the 2nd quarter. LCM Capital Management Inc now owns 3,847 shares of the financial services provider’s stock worth $1,115,000 after acquiring an additional 36 shares during the last quarter. Finally, jvl associates llc grew its holdings in shares of JPMorgan Chase & Co. by 1.7% in the second quarter. jvl associates llc now owns 2,094 shares of the financial services provider’s stock worth $607,000 after purchasing an additional 36 shares during the last quarter. 71.55% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Robin Leopold sold 966 shares of JPMorgan Chase & Co. stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $311.92, for a total value of $301,314.72. Following the completion of the transaction, the insider owned 58,479 shares in the company, valued at $18,240,769.68. The trade was a 1.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Linda Bammann sold 9,500 shares of the company’s stock in a transaction on Tuesday, September 2nd. The stock was 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 of the company’s stock, valued at $24,492,753.58. This represents a 10.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.47% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

JPM has been the subject of a number of recent analyst reports. Cowen restated a “buy” rating on shares of JPMorgan Chase & Co. in a report on Wednesday, July 16th. Weiss Ratings cut JPMorgan Chase & Co. from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Friday, November 7th. Daiwa Capital Markets boosted their target price on JPMorgan Chase & Co. from $330.00 to $332.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 8th. Citigroup raised their price objective on shares of JPMorgan Chase & Co. from $275.00 to $325.00 and gave the stock a “neutral” rating in a report on Wednesday, September 24th. Finally, KGI Securities boosted their price objective on JPMorgan Chase & Co. from $300.00 to $315.00 and gave the company a “hold” rating in a research report on Wednesday, October 15th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $326.38.

JPMorgan Chase & Co. Price Performance

Shares of JPM opened at $320.11 on Thursday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.86. The stock has a market capitalization of $871.42 billion, a PE ratio of 15.85, a PEG ratio of 1.84 and a beta of 1.14. The company has a 50 day moving average price of $307.23 and a 200-day moving average price of $288.84. JPMorgan Chase & Co. has a fifty-two week low of $202.16 and a fifty-two week high of $322.25.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Tuesday, October 14th. The financial services provider reported $5.07 EPS for the quarter, beating analysts’ consensus estimates of $4.83 by $0.24. The company had revenue of $46.43 billion during 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%. JPMorgan Chase & Co.’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.37 earnings per share. Equities analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Monday, October 6th were issued a $1.50 dividend. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend was Monday, October 6th. This represents a $6.00 annualized dividend and a dividend yield of 1.9%. JPMorgan Chase & Co.’s payout ratio is currently 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.