JPMorgan Chase & Co. $JPM Stake Reduced by Sigma Planning Corp

Sigma Planning Corp cut its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 8.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 66,359 shares of the financial services provider’s stock after selling 6,273 shares during the quarter. JPMorgan Chase & Co. accounts for 0.6% of Sigma Planning Corp’s portfolio, making the stock its 23rd largest holding. Sigma Planning Corp’s holdings in JPMorgan Chase & Co. were worth $19,238,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Kingstone Capital Partners Texas LLC increased its stake in shares of 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 worth $21,133,630,000 after acquiring an additional 72,885,260 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of JPMorgan Chase & Co. by 2.7% in the first quarter. Goldman Sachs Group Inc. now owns 20,548,182 shares of the financial services provider’s stock worth $5,040,469,000 after acquiring an additional 548,853 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of JPMorgan Chase & Co. by 5.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 18,441,044 shares of the financial services provider’s stock worth $4,523,588,000 after purchasing an additional 890,553 shares during the period. Nuveen LLC acquired a new position in JPMorgan Chase & Co. in the 1st quarter valued at approximately $3,972,807,000. Finally, Invesco Ltd. lifted its position in JPMorgan Chase & Co. by 4.1% in the first quarter. Invesco Ltd. now owns 13,754,558 shares of the financial services provider’s stock worth $3,373,993,000 after purchasing an additional 547,110 shares during the period. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Trading Up 1.4%

Shares of NYSE:JPM opened at $320.11 on Thursday. JPMorgan Chase & Co. has a 1 year low of $202.16 and a 1 year high of $322.25. The business’s 50 day simple moving average is $307.23 and its 200 day simple moving average is $288.84. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.86 and a quick ratio of 0.88. The company has a market capitalization of $871.42 billion, a P/E ratio of 15.85, a P/E/G ratio of 1.84 and a beta of 1.14.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share for the quarter, topping the consensus estimate of $4.83 by $0.24. JPMorgan Chase & Co. had a return on equity of 17.18% and a net margin of 20.90%.The firm had revenue of $46.43 billion during the quarter, compared to analysts’ expectations of $44.42 billion. During the same period in the prior year, the company earned $4.37 earnings per share. The company’s quarterly revenue was up 8.8% on a year-over-year basis. On average, research analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

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

Insiders Place Their Bets

In other news, insider Robin Leopold sold 966 shares of the stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $311.92, for a total transaction of $301,314.72. Following the transaction, the insider owned 58,479 shares of the company’s stock, valued at $18,240,769.68. This represents a 1.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Linda Bammann sold 9,500 shares of the stock in a transaction that occurred 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 transaction, the director owned 82,207 shares in the company, valued at approximately $24,492,753.58. The trade was a 10.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.47% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

JPM has been the topic of a number of analyst reports. Wall Street Zen upgraded JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. 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. The Goldman Sachs Group restated a “buy” rating and issued a $366.00 price objective on shares of JPMorgan Chase & Co. in a report on Tuesday, October 14th. Keefe, Bruyette & Woods raised their target price on JPMorgan Chase & Co. from $330.00 to $354.00 and gave the stock an “outperform” rating in a report on Friday, October 10th. Finally, Phillip Securities lowered shares of JPMorgan Chase & Co. from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $326.38.

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.