Slocum Gordon & Co LLP Trims Stake in JPMorgan Chase & Co. $JPM

Slocum Gordon & Co LLP reduced its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 31.0% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,373 shares of the financial services provider’s stock after selling 5,121 shares during the quarter. JPMorgan Chase & Co. accounts for about 2.7% of Slocum Gordon & Co LLP’s investment portfolio, making the stock its 14th largest position. Slocum Gordon & Co LLP’s holdings in JPMorgan Chase & Co. were worth $3,297,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Kingstone Capital Partners Texas LLC raised its stake in JPMorgan Chase & Co. by 609,867.5% in the second quarter. Kingstone Capital Partners Texas LLC now owns 72,897,211 shares of the financial services provider’s stock valued at $21,133,630,000 after purchasing an additional 72,885,260 shares in the last quarter. Norges Bank purchased a new position in JPMorgan Chase & Co. in the 2nd quarter worth approximately $10,295,209,000. Laurel Wealth Advisors LLC increased its holdings in shares of JPMorgan Chase & Co. by 28,813.7% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 16,785,584 shares of the financial services provider’s stock worth $4,866,309,000 after buying an additional 16,727,530 shares during the last quarter. Viking Global Investors LP increased its holdings in shares of JPMorgan Chase & Co. by 86.1% in the 2nd quarter. Viking Global Investors LP now owns 4,042,034 shares of the financial services provider’s stock worth $1,171,826,000 after buying an additional 1,870,386 shares during the last quarter. Finally, Montrusco Bolton Investments Inc. purchased a new stake in shares of JPMorgan Chase & Co. during the 2nd quarter valued at $485,802,000. Institutional investors own 71.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on JPM shares. Evercore ISI upped their target price on shares of JPMorgan Chase & Co. from $309.00 to $330.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 30th. UBS Group lifted their price target on JPMorgan Chase & Co. from $339.00 to $350.00 and gave the stock a “buy” rating in a research note on Tuesday, October 7th. Keefe, Bruyette & Woods upped their price objective on JPMorgan Chase & Co. from $330.00 to $354.00 and gave the stock an “outperform” rating in a report on Friday, October 10th. Deutsche Bank Aktiengesellschaft raised their price objective on JPMorgan Chase & Co. from $300.00 to $320.00 and gave the company a “hold” rating in a report on Tuesday, September 30th. Finally, Wells Fargo & Company boosted their target price on JPMorgan Chase & Co. from $345.00 to $350.00 and gave the stock an “overweight” rating in a research report on Monday, November 3rd. Fifteen research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, JPMorgan Chase & Co. has a consensus rating of “Hold” and an average target price of $326.81.

Insider Activity at JPMorgan Chase & Co.

In related news, insider Robin Leopold sold 966 shares of the company’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 completion of the sale, the insider directly owned 58,479 shares in the company, valued at $18,240,769.68. This represents a 1.63% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.47% of the stock is currently owned by insiders.

JPMorgan Chase & Co. Trading Up 0.4%

NYSE JPM opened at $318.74 on Monday. JPMorgan Chase & Co. has a 1-year low of $202.16 and a 1-year high of $322.25. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.26. The stock has a 50-day moving average of $306.77 and a 200-day moving average of $296.86. The firm has a market cap of $867.69 billion, a PE ratio of 15.79, a price-to-earnings-growth ratio of 1.65 and a beta of 1.08.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.83 by $0.24. The business had revenue of $47.12 billion for 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%.JPMorgan Chase & Co.’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period last year, the company earned $4.37 EPS. As a group, sell-side analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, January 31st. Stockholders of record on Tuesday, January 6th will be issued a $1.50 dividend. The ex-dividend date is Tuesday, January 6th. This represents a $6.00 annualized dividend and a dividend yield of 1.9%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 29.72%.

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.