NFP Retirement Inc. Lowers Stock Holdings in JPMorgan Chase & Co. $JPM

NFP Retirement Inc. lessened its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 6.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,962 shares of the financial services provider’s stock after selling 282 shares during the quarter. NFP Retirement Inc.’s holdings in JPMorgan Chase & Co. were worth $1,149,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in JPM. Kingstone Capital Partners Texas LLC boosted its stake in JPMorgan Chase & Co. by 609,867.5% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 72,897,211 shares of the financial services provider’s stock worth $21,133,630,000 after buying an additional 72,885,260 shares during the last quarter. Nuveen LLC purchased a new position in shares of JPMorgan Chase & Co. during the 1st quarter worth about $3,972,807,000. Montrusco Bolton Investments Inc. purchased a new position in shares of JPMorgan Chase & Co. during the 2nd quarter worth about $485,802,000. International Assets Investment Management LLC acquired a new stake in shares of JPMorgan Chase & Co. in the second quarter worth approximately $458,104,000. Finally, National Bank of Canada FI grew its holdings in JPMorgan Chase & Co. by 44.4% in the first quarter. National Bank of Canada FI now owns 4,518,740 shares of the financial services provider’s stock valued at $1,108,415,000 after purchasing an additional 1,388,992 shares during the period. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Trading Up 1.7%

Shares of JPM opened at $308.09 on Friday. JPMorgan Chase & Co. has a 12 month low of $202.16 and a 12 month high of $322.25. The stock’s 50-day moving average is $306.91 and its two-hundred day moving average is $292.67. 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 has a market cap of $838.71 billion, a PE ratio of 15.26, a P/E/G ratio of 1.84 and a beta of 1.14.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.83 by $0.24. The business had revenue of $47.12 billion during the quarter, compared to analyst estimates of $44.42 billion. JPMorgan Chase & Co. had a return on equity of 17.18% and a net margin of 20.90%.The company’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter last year, the firm earned $4.37 earnings per share. Equities analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Monday, October 6th were paid a dividend of $1.50 per share. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Monday, October 6th. JPMorgan Chase & Co.’s payout ratio is 29.72%.

Insiders Place Their Bets

In other news, Director Linda Bammann sold 9,500 shares of the company’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total value of $2,830,430.00. Following the completion of the transaction, the director directly owned 82,207 shares in the company, valued at approximately $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 can be accessed through this link. Also, insider Robin Leopold sold 966 shares of the firm’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $311.92, for a total transaction of $301,314.72. Following the sale, the insider directly owned 58,479 shares of the company’s stock, valued at approximately $18,240,769.68. The trade was a 1.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on JPM. Evercore ISI lifted their price target on shares of JPMorgan Chase & Co. from $309.00 to $330.00 and gave the company an “outperform” rating in a report on Tuesday, September 30th. The Goldman Sachs Group reiterated a “buy” rating and issued a $366.00 target price on shares of JPMorgan Chase & Co. in a report on Tuesday, October 14th. Wolfe Research boosted their price target on JPMorgan Chase & Co. from $342.00 to $346.00 and gave the company an “outperform” rating in a research report on Thursday, October 16th. Daiwa Capital Markets raised their price objective on JPMorgan Chase & Co. from $330.00 to $332.00 and gave the stock an “outperform” rating in a report on Wednesday, October 8th. Finally, DZ Bank reaffirmed a “neutral” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, October 15th. Fifteen research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $326.38.

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.