Portland Investment Counsel Inc. Sells 3,251 Shares of JPMorgan Chase & Co. $JPM

Portland Investment Counsel Inc. lessened its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 52.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,000 shares of the financial services provider’s stock after selling 3,251 shares during the period. Portland Investment Counsel Inc.’s holdings in JPMorgan Chase & Co. were worth $870,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. JFS Wealth Advisors LLC boosted its holdings in shares of JPMorgan Chase & Co. by 0.4% during the 2nd quarter. JFS Wealth Advisors LLC now owns 7,897 shares of the financial services provider’s stock worth $2,290,000 after buying an additional 35 shares during the period. Cottonwood Capital Advisors LLC boosted its holdings in shares of JPMorgan Chase & Co. by 0.9% during the second quarter. Cottonwood Capital Advisors LLC now owns 3,837 shares of the financial services provider’s stock worth $1,112,000 after acquiring an additional 35 shares during the period. Coign Capital Advisors LLC grew its position in shares of JPMorgan Chase & Co. by 1.2% in the second quarter. Coign Capital Advisors LLC now owns 2,854 shares of the financial services provider’s stock valued at $827,000 after purchasing an additional 35 shares during the last quarter. Rialto Wealth Management LLC grew its position in shares of JPMorgan Chase & Co. by 3.9% in the second quarter. Rialto Wealth Management LLC now owns 929 shares of the financial services provider’s stock valued at $269,000 after purchasing an additional 35 shares during the last quarter. Finally, Breed s Hill Capital LLC increased its stake in shares of JPMorgan Chase & Co. by 0.8% during the second quarter. Breed s Hill Capital LLC now owns 4,642 shares of the financial services provider’s stock worth $1,346,000 after purchasing an additional 35 shares during the period. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Trading Up 1.2%

JPM opened at $315.98 on Friday. The stock has a market capitalization of $860.18 billion, a price-to-earnings ratio of 15.65, a P/E/G ratio of 1.62 and a beta of 1.08. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.26. JPMorgan Chase & Co. has a twelve month low of $202.16 and a twelve month high of $322.25. The company has a 50-day simple moving average of $306.75 and a 200 day simple moving average of $294.30.

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

JPMorgan Chase & Co. Increases Dividend

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

Insider Buying and Selling at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, insider Robin Leopold sold 966 shares of the firm’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $311.92, for a total value of $301,314.72. Following the sale, the insider owned 58,479 shares of the company’s stock, valued at approximately $18,240,769.68. This trade represents a 1.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on JPM shares. 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 note on Thursday, October 16th. Barclays boosted their target price on shares of JPMorgan Chase & Co. from $330.00 to $342.00 and gave the company an “overweight” rating in a research report on Wednesday, October 15th. TD Cowen upped their price target on shares of JPMorgan Chase & Co. from $350.00 to $370.00 and gave the company a “buy” rating in a research note on Friday, October 3rd. Evercore ISI lifted their price objective on shares of JPMorgan Chase & Co. from $309.00 to $330.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 30th. Finally, Morgan Stanley boosted their price objective on shares of JPMorgan Chase & Co. from $336.00 to $338.00 and gave the company an “equal weight” rating in a report on Wednesday, October 15th. Fifteen analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, JPMorgan Chase & Co. currently has an average rating of “Hold” and a consensus target price 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.