JPMorgan Chase & Co. $JPM Stock Sold by W.G. Shaheen & Associates DBA Whitney & Co

W.G. Shaheen & Associates DBA Whitney & Co reduced its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 97,536 shares of the financial services provider’s stock after selling 1,745 shares during the period. JPMorgan Chase & Co. comprises about 2.4% of W.G. Shaheen & Associates DBA Whitney & Co’s investment portfolio, making the stock its 10th biggest position. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in JPMorgan Chase & Co. were worth $32,268,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Concorde Asset Management LLC grew its holdings in JPMorgan Chase & Co. by 1.1% during the 2nd quarter. Concorde Asset Management LLC now owns 2,660 shares of the financial services provider’s stock worth $871,000 after acquiring an additional 29 shares during the last quarter. Elevation Wealth Management LLC raised its stake in shares of JPMorgan Chase & Co. by 1.0% in the second quarter. Elevation Wealth Management LLC now owns 3,074 shares of the financial services provider’s stock worth $1,006,000 after acquiring an additional 29 shares during the last quarter. Henrickson Nauta Wealth Advisors Inc. lifted its position in shares of JPMorgan Chase & Co. by 0.8% during the second quarter. Henrickson Nauta Wealth Advisors Inc. now owns 3,531 shares of the financial services provider’s stock worth $1,156,000 after purchasing an additional 29 shares in the last quarter. Arkansas Financial Group Inc. lifted its position in shares of JPMorgan Chase & Co. by 1.1% during the second quarter. Arkansas Financial Group Inc. now owns 2,667 shares of the financial services provider’s stock worth $873,000 after purchasing an additional 30 shares in the last quarter. Finally, Flynn Zito Capital Management LLC lifted its position in shares of JPMorgan Chase & Co. by 1.1% during the second quarter. Flynn Zito Capital Management LLC now owns 2,830 shares of the financial services provider’s stock worth $926,000 after purchasing an additional 30 shares in the last quarter. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Trading Up 0.4%

JPM opened at $343.35 on Thursday. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.85 and a quick ratio of 0.85. The company has a market cap of $911.80 billion, a price-to-earnings ratio of 14.40, a price-to-earnings-growth ratio of 1.35 and a beta of 1.03. The firm has a 50 day simple moving average of $341.06 and a 200 day simple moving average of $324.40. JPMorgan Chase & Co. has a fifty-two week low of $279.10 and a fifty-two week high of $366.50.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Tuesday, October 13th. The financial services provider reported $5.75 earnings per share for the quarter, missing the consensus estimate of $5.94 by ($0.19). JPMorgan Chase & Co. had a net margin of 21.85% and a return on equity of 18.48%. The business had revenue of $50.17 billion during the quarter, compared to analyst estimates of $51.23 billion. During the same quarter in the prior year, the company earned $5.07 earnings per share. The company’s quarterly revenue was up 8.1% on a year-over-year basis. On average, sell-side analysts anticipate that JPMorgan Chase & Co. will post 23.95 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, October 31st. Shareholders of record on Tuesday, October 6th were given a dividend of $1.65 per share. This represents a $6.60 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Tuesday, October 6th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.50. JPMorgan Chase & Co.’s dividend payout ratio is presently 27.68%.

Insider Activity at JPMorgan Chase & Co.

In other news, insider Robin Leopold sold 2,500 shares of the stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $352.81, for a total value of $882,025.00. Following the transaction, the insider owned 71,047 shares of the company’s stock, valued at $25,066,092.07. This represents a 3.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.41% of the company’s stock.

Trending Headlines about JPMorgan Chase & Co.

Investors following JPM have been watching these headlines:

• Positive Sentiment: JPMorgan is taking a lead role in Anthropic’s planned IPO, including domestic retail marketing and share allocations. The offering could be a major transaction, giving JPMorgan a chance to earn fees and showcase its investment-banking franchise; CEO Jamie Dimon’s participation also raises the bank’s profile. JPMorgan takes lead role in Anthropic IPO
• Neutral Sentiment: JPMorgan is lead arranger for a $2.85 billion financing package supporting CCC Intelligent Solutions’ buyout. The deal indicates continued lending activity, but the article provides no estimate of fees or likely effect on earnings. CCC Intelligent Solutions financing
• Negative Sentiment: A report says JPMorgan may sell about $2 billion of Qualtrics-related debt at roughly 85 cents on the dollar. If the bank holds the debt and sells at that discount, it could crystallize a loss; the article does not clarify the potential impact on JPMorgan’s results. JPMorgan may sell Qualtrics debt at a discount

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Morgan Stanley increased their price target on shares of JPMorgan Chase & Co. from $370.00 to $377.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 14th. Royal Bank Of Canada restated an “outperform” rating and issued a $370.00 price objective on shares of JPMorgan Chase & Co. in a research report on Wednesday, October 14th. HSBC boosted their price objective on shares of JPMorgan Chase & Co. from $369.00 to $377.00 and gave the stock a “hold” rating in a research report on Monday, September 28th. Barclays upped their price objective on JPMorgan Chase & Co. from $420.00 to $425.00 and gave the stock an “overweight” rating in a report on Wednesday, October 14th. Finally, Wells Fargo & Company increased their price objective on JPMorgan Chase & Co. from $375.00 to $390.00 and gave the company an “overweight” rating in a research report on Friday, August 14th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and thirteen have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $368.33.

About JPMorgan Chase & Co.

JPMorgan Chase & Co. is a global financial services company serving consumers, businesses, institutional clients and governments. Its operations include consumer and community banking, corporate and investment banking, commercial banking, and asset and wealth management. The company offers services such as deposit accounts, credit cards, mortgages, auto financing, lending, payment processing and investment advice. It also provides institutional clients with investment banking, markets, treasury and securities services, and commercial lending.