North American Management Corp Reduces Stake in JPMorgan Chase & Co. (JPM)

North American Management Corp reduced its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 3.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 273,642 shares of the financial services provider’s stock after selling 10,714 shares during the period. JPMorgan Chase & Co. accounts for approximately 4.6% of North American Management Corp’s portfolio, making the stock its largest position. North American Management Corp’s holdings in JPMorgan Chase & Co. were worth $28,513,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. Financial Gravity Wealth Inc. bought a new position in JPMorgan Chase & Co. in the first quarter worth about $150,000. Stelac Advisory Services LLC bought a new position in JPMorgan Chase & Co. in the first quarter worth about $162,000. Private Ocean LLC raised its stake in JPMorgan Chase & Co. by 94.7% in the first quarter. Private Ocean LLC now owns 1,694 shares of the financial services provider’s stock worth $186,000 after buying an additional 824 shares in the last quarter. Avenir Corp bought a new position in JPMorgan Chase & Co. in the first quarter worth about $201,000. Finally, Reilly Herbert Faulkner III bought a new position in JPMorgan Chase & Co. in the first quarter worth about $202,000. Institutional investors own 70.56% of the company’s stock.

JPM has been the subject of a number of research reports. Bank of America increased their price target on shares of JPMorgan Chase & Co. from $126.00 to $132.00 and gave the stock a “buy” rating in a research note on Monday, September 17th. Zacks Investment Research raised shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and set a $127.00 price target for the company in a research note on Friday, September 14th. UBS Group raised shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating in a research note on Thursday, July 19th. BMO Capital Markets increased their price target on shares of JPMorgan Chase & Co. from $110.00 to $118.00 and gave the stock a “market perform” rating in a research note on Monday, July 16th. Finally, DZ Bank raised shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating in a research note on Thursday, July 19th. Ten analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $121.99.

Shares of NYSE JPM opened at $106.95 on Friday. JPMorgan Chase & Co. has a fifty-two week low of $94.96 and a fifty-two week high of $119.33. The company has a market cap of $387.26 billion, a price-to-earnings ratio of 15.57, a price-to-earnings-growth ratio of 1.85 and a beta of 1.17. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.18.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Friday, October 12th. The financial services provider reported $2.34 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.28 by $0.06. JPMorgan Chase & Co. had a net margin of 22.80% and a return on equity of 13.18%. During the same quarter in the prior year, the business earned $1.76 earnings per share. On average, sell-side analysts anticipate that JPMorgan Chase & Co. will post 9.17 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 31st. Shareholders of record on Friday, October 5th will be paid a dividend of $0.80 per share. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $0.56. The ex-dividend date of this dividend is Thursday, October 4th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.99%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 46.58%.

In other JPMorgan Chase & Co. news, CEO Gordon Smith sold 30,725 shares of the firm’s stock in a transaction that occurred on Monday, July 23rd. The shares were sold at an average price of $114.01, for a total transaction of $3,502,957.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.73% of the stock is currently owned by company insiders.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking, and Asset & Wealth Management. The Consumer & Community Banking segment offers deposit and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; residential mortgages and home equity loans; and credit cards, payment processing services, auto loans and leases.

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Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

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