Citizens Financial Group Inc. RI Has $88.48 Million Stock Position in JPMorgan Chase & Co. $JPM

Citizens Financial Group Inc. RI cut its stake in JPMorgan Chase & Co. (NYSE:JPM) by 0.5% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 305,191 shares of the financial services provider’s stock after selling 1,597 shares during the period. JPMorgan Chase & Co. accounts for 1.4% of Citizens Financial Group Inc. RI’s portfolio, making the stock its 15th biggest position. Citizens Financial Group Inc. RI’s holdings in JPMorgan Chase & Co. were worth $88,478,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Cercano Management LLC bought a new stake in shares of JPMorgan Chase & Co. in the 2nd quarter valued at $27,273,000. Ontario Teachers Pension Plan Board lifted its holdings in JPMorgan Chase & Co. by 10.6% in the second quarter. Ontario Teachers Pension Plan Board now owns 3,265 shares of the financial services provider’s stock valued at $947,000 after buying an additional 312 shares during the period. Avantax Advisory Services Inc. boosted its position in JPMorgan Chase & Co. by 1.6% during the second quarter. Avantax Advisory Services Inc. now owns 328,596 shares of the financial services provider’s stock valued at $95,263,000 after acquiring an additional 5,246 shares during the last quarter. Paragon Capital Management LLC boosted its position in JPMorgan Chase & Co. by 6.5% during the second quarter. Paragon Capital Management LLC now owns 1,225 shares of the financial services provider’s stock valued at $355,000 after acquiring an additional 75 shares during the last quarter. Finally, MJP Associates Inc. ADV grew its holdings in JPMorgan Chase & Co. by 2.4% during the 2nd quarter. MJP Associates Inc. ADV now owns 15,376 shares of the financial services provider’s stock worth $4,458,000 after acquiring an additional 361 shares during the period. Institutional investors own 71.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on JPM shares. Daiwa Capital Markets boosted their price objective on JPMorgan Chase & Co. from $330.00 to $332.00 and gave the company an “outperform” rating in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods increased their price target on JPMorgan Chase & Co. from $330.00 to $354.00 and gave the stock an “outperform” rating in a report on Friday, October 10th. DZ Bank restated a “neutral” rating on shares of JPMorgan Chase & Co. in a report on Wednesday, October 15th. Wells Fargo & Company upped 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. Finally, TD Cowen lifted their price target on shares of JPMorgan Chase & Co. from $350.00 to $370.00 and gave the company a “buy” rating in a research report on Friday, October 3rd. Fifteen investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $326.38.

Insider Transactions at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. 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 transaction, the director owned 82,207 shares of the company’s stock, valued at $24,492,753.58. This trade represents a 10.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Robin Leopold sold 966 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $311.92, for a total value of $301,314.72. Following the completion of the transaction, the insider owned 58,479 shares in the company, valued at $18,240,769.68. The trade was a 1.63% 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.

JPMorgan Chase & Co. Stock Down 0.0%

JPM stock opened at $297.93 on Tuesday. The firm has a market capitalization of $811.04 billion, a PE ratio of 14.76, a P/E/G ratio of 1.84 and a beta of 1.14. The company has a quick ratio of 0.88, a current ratio of 0.86 and a debt-to-equity ratio of 1.26. JPMorgan Chase & Co. has a twelve month low of $202.16 and a twelve month high of $322.25. The stock’s 50 day moving average is $307.20 and its 200-day moving average is $292.10.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $5.07 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $47.12 billion during the quarter, compared to analyst estimates of $44.42 billion. During the same period in the prior year, the firm posted $4.37 EPS. JPMorgan Chase & Co.’s quarterly revenue was up 8.8% compared to the same quarter last year. Sell-side analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Monday, October 6th were issued a $1.50 dividend. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. This represents a $6.00 annualized dividend and a dividend yield of 2.0%. The ex-dividend date was Monday, October 6th. JPMorgan Chase & Co.’s dividend payout ratio is currently 29.72%.

JPMorgan Chase & Co. Company 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.