JPMorgan Chase & Co. $JPM Shares Sold by Bristlecone Advisors LLC

Bristlecone Advisors LLC trimmed its position in JPMorgan Chase & Co. (NYSE:JPM) by 8.9% during the second quarter, Holdings Channel.com reports. The firm owned 35,152 shares of the financial services provider’s stock after selling 3,446 shares during the period. JPMorgan Chase & Co. accounts for about 0.9% of Bristlecone Advisors LLC’s holdings, making the stock its 29th largest holding. Bristlecone Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $10,191,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of JPM. JFS Wealth Advisors LLC grew its stake in 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 worth $2,290,000 after acquiring an additional 35 shares during the period. Cottonwood Capital Advisors LLC lifted its stake in shares of JPMorgan Chase & Co. by 0.9% during the 2nd quarter. Cottonwood Capital Advisors LLC now owns 3,837 shares of the financial services provider’s stock worth $1,112,000 after purchasing an additional 35 shares during the period. LCM Capital Management Inc boosted its holdings in shares of JPMorgan Chase & Co. by 0.9% during the second quarter. LCM Capital Management Inc now owns 3,847 shares of the financial services provider’s stock worth $1,115,000 after purchasing an additional 36 shares during the last quarter. jvl associates llc grew its position 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 valued at $607,000 after purchasing an additional 36 shares during the period. Finally, Aspen Capital Management LLC grew its position in shares of JPMorgan Chase & Co. by 0.8% in the second quarter. Aspen Capital Management LLC now owns 4,316 shares of the financial services provider’s stock valued at $1,251,000 after purchasing an additional 36 shares during the period. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on JPM. Weiss Ratings upgraded JPMorgan Chase & Co. from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Saturday, October 25th. Bank of America upped their price objective on shares of JPMorgan Chase & Co. from $330.00 to $340.00 and gave the company a “buy” rating in a research note on Wednesday, July 16th. Deutsche Bank Aktiengesellschaft raised their target price on shares of JPMorgan Chase & Co. from $300.00 to $320.00 and gave the stock a “hold” rating in a research report on Tuesday, September 30th. Cowen reaffirmed a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, July 16th. Finally, Barclays increased their price target on shares of JPMorgan Chase & Co. from $330.00 to $342.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 15th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, JPMorgan Chase & Co. has a consensus rating of “Moderate Buy” and an average price target of $326.38.

Insiders Place Their Bets

In related news, Director Linda Bammann sold 9,500 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $297.94, for a total value of $2,830,430.00. Following the completion of the sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robin Leopold sold 966 shares of the firm’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $311.92, for a total value of $301,314.72. Following the completion of the transaction, the insider directly owned 58,479 shares in the company, valued at $18,240,769.68. This trade represents a 1.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.47% of the stock is currently owned by corporate insiders.

JPMorgan Chase & Co. Stock Up 0.3%

JPM opened at $314.30 on Friday. JPMorgan Chase & Co. has a 1 year low of $202.16 and a 1 year high of $318.01. The firm has a 50 day moving average price of $306.18 and a 200 day moving average price of $286.92. 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 company has a market cap of $864.26 billion, a PE ratio of 15.57, a price-to-earnings-growth ratio of 1.84 and a beta of 1.14.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $46.43 billion for the quarter, compared to analysts’ expectations of $44.42 billion. During the same period in the previous year, the company posted $4.37 earnings per share. JPMorgan Chase & Co.’s revenue was up 8.8% compared to the same quarter last year. Sell-side analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

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