JPMorgan Chase & Co. $JPM is Pinnacle Associates Ltd.’s 6th Largest Position

Pinnacle Associates Ltd. trimmed its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.2% in the second quarter, Holdings Channel reports. The firm owned 437,680 shares of the financial services provider’s stock after selling 5,344 shares during the period. JPMorgan Chase & Co. comprises 1.8% of Pinnacle Associates Ltd.’s investment portfolio, making the stock its 6th largest holding. Pinnacle Associates Ltd.’s holdings in JPMorgan Chase & Co. were worth $126,888,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. JFS Wealth Advisors LLC raised its stake in shares of 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 valued at $2,290,000 after acquiring an additional 35 shares during the period. Cottonwood Capital Advisors LLC increased its holdings in JPMorgan Chase & Co. by 0.9% in the 2nd quarter. Cottonwood Capital Advisors LLC now owns 3,837 shares of the financial services provider’s stock valued at $1,112,000 after purchasing an additional 35 shares during the last quarter. Coign Capital Advisors LLC increased its holdings in JPMorgan Chase & Co. by 1.2% in the 2nd 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. LCM Capital Management Inc raised its position in JPMorgan Chase & Co. by 0.9% in the second quarter. LCM Capital Management Inc now owns 3,847 shares of the financial services provider’s stock valued at $1,115,000 after purchasing an additional 36 shares during the period. Finally, jvl associates llc lifted its stake in JPMorgan Chase & Co. by 1.7% during the second quarter. jvl associates llc now owns 2,094 shares of the financial services provider’s stock worth $607,000 after purchasing an additional 36 shares in the last quarter. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock opened at $314.30 on Monday. The company has a market cap of $855.62 billion, a P/E ratio of 15.57, a PEG ratio of 1.84 and a beta of 1.14. The firm has a fifty day moving average price of $306.18 and a 200 day moving average price of $287.61. The company has a current ratio of 0.86, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. JPMorgan Chase & Co. has a 12 month low of $202.16 and a 12 month high of $318.01.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $4.83 by $0.24. The company had revenue of $46.43 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the business earned $4.37 EPS. Sell-side analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Monday, October 6th were issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 1.9%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend was Monday, October 6th. JPMorgan Chase & Co.’s dividend payout ratio is currently 29.72%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Wolfe Research lifted their price objective 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. Deutsche Bank Aktiengesellschaft lifted their target price on JPMorgan Chase & Co. from $300.00 to $320.00 and gave the company a “hold” rating in a research report on Tuesday, September 30th. TD Cowen increased their price target on shares of JPMorgan Chase & Co. from $350.00 to $370.00 and gave the stock a “buy” rating in a research report on Friday, October 3rd. Wall Street Zen raised shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, KGI Securities upped their target price on shares of JPMorgan Chase & Co. from $300.00 to $315.00 and gave the stock a “hold” rating in a research note on Wednesday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $326.38.

Insider Activity at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the sale, the director owned 82,207 shares of the company’s stock, valued at approximately $24,492,753.58. This trade represents a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction, the insider owned 58,479 shares of the company’s stock, valued at approximately $18,240,769.68. The trade was a 1.63% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.47% of the company’s stock.

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.