Profund Advisors LLC lessened its position in JPMorgan Chase & Co. (NYSE:JPM) by 27.8% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 59,378 shares of the financial services provider’s stock after selling 22,855 shares during the quarter. Profund Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $6,687,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Dravo Bay LLC purchased a new position in JPMorgan Chase & Co. during the first quarter worth approximately $26,000. HBC Financial Services PLLC lifted its position in JPMorgan Chase & Co. by 61.2% during the second quarter. HBC Financial Services PLLC now owns 237 shares of the financial services provider’s stock worth $27,000 after buying an additional 90 shares in the last quarter. Financial Connections Group Inc. lifted its position in JPMorgan Chase & Co. by 48.5% during the second quarter. Financial Connections Group Inc. now owns 306 shares of the financial services provider’s stock worth $34,000 after buying an additional 100 shares in the last quarter. Advanced Research Investment Solutions LLC lifted its position in JPMorgan Chase & Co. by 118.2% during the first quarter. Advanced Research Investment Solutions LLC now owns 288 shares of the financial services provider’s stock worth $39,000 after buying an additional 156 shares in the last quarter. Finally, Activest Wealth Management increased its stake in JPMorgan Chase & Co. by 284.0% during the second quarter. Activest Wealth Management now owns 361 shares of the financial services provider’s stock worth $41,000 after acquiring an additional 267 shares during the last quarter. Hedge funds and other institutional investors own 68.57% of the company’s stock.
JPM has been the subject of several recent analyst reports. Royal Bank of Canada set a $130.00 target price on JPMorgan Chase & Co. in a research note on Monday, October 17th. Evercore ISI cut their target price on JPMorgan Chase & Co. from $135.00 to $125.00 in a research note on Friday, July 15th. Berenberg Bank raised JPMorgan Chase & Co. from a “sell” rating to a “hold” rating and set a $120.00 target price for the company in a research note on Monday, July 18th. Jefferies Financial Group set a $117.00 target price on JPMorgan Chase & Co. in a research note on Monday, September 12th. Finally, Citigroup raised JPMorgan Chase & Co. from a “neutral” rating to a “buy” rating and dropped their price objective for the company from $145.00 to $135.00 in a research note on Tuesday, July 12th. One analyst has rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $144.90.
JPM opened at $119.66 on Monday. JPMorgan Chase & Co. has a 12 month low of $101.28 and a 12 month high of $172.96. The stock has a market capitalization of $350.91 billion, a price-to-earnings ratio of 10.11, a PEG ratio of 2.00 and a beta of 1.09. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.84 and a quick ratio of 0.83. The business has a fifty day moving average price of $113.88 and a 200 day moving average price of $117.99.
JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last announced its quarterly earnings results on Friday, October 14th. The financial services provider reported $3.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.95 by $0.17. The company had revenue of $32.72 billion during the quarter, compared to the consensus estimate of $31.88 billion. JPMorgan Chase & Co. had a return on equity of 14.52% and a net margin of 26.85%. JPMorgan Chase & Co.’s revenue for the quarter was up 10.4% on a year-over-year basis. During the same period in the previous year, the business earned $3.74 EPS. Sell-side analysts expect that JPMorgan Chase & Co. will post 11.61 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Thursday, October 6th will be issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date of this dividend is Wednesday, October 5th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 33.78%.
In other JPMorgan Chase & Co. news, CEO Mary E. Erdoes sold 33,515 shares of JPMorgan Chase & Co. stock in a transaction dated Monday, October 17th. The stock was sold at an average price of $115.77, for a total transaction of $3,880,031.55. Following the completion of the sale, the chief executive officer now directly owns 533,795 shares of the company’s stock, valued at approximately $61,797,447.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.79% of the stock is owned by company insiders.