SVB Wealth LLC Decreases Stock Position in JPMorgan Chase & Co. $JPM

SVB Wealth LLC cut its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 34.9% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 117,632 shares of the financial services provider’s stock after selling 62,924 shares during the period. JPMorgan Chase & Co. makes up 1.8% of SVB Wealth LLC’s investment portfolio, making the stock its 11th largest position. SVB Wealth LLC’s holdings in JPMorgan Chase & Co. were worth $34,103,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Kingstone Capital Partners Texas LLC grew 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 period. Norges Bank bought a new position in JPMorgan Chase & Co. in the second quarter worth approximately $10,295,209,000. Laurel Wealth Advisors LLC raised its position in JPMorgan Chase & Co. by 28,813.7% in the second quarter. Laurel Wealth Advisors LLC now owns 16,785,584 shares of the financial services provider’s stock worth $4,866,309,000 after acquiring an additional 16,727,530 shares during the period. Nuveen LLC purchased a new position in shares of JPMorgan Chase & Co. during the 1st quarter worth $3,972,807,000. Finally, Montrusco Bolton Investments Inc. bought a new stake in shares of JPMorgan Chase & Co. during the 2nd quarter valued at $485,802,000. Institutional investors own 71.55% of the company’s stock.

Insider Activity at JPMorgan Chase & Co.

In other news, insider Robin Leopold sold 966 shares of the company’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 transaction of $301,314.72. Following the transaction, the insider owned 58,479 shares of the company’s stock, valued at approximately $18,240,769.68. This represents a 1.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.47% of the company’s stock.

JPMorgan Chase & Co. Stock Down 4.8%

NYSE JPM opened at $300.23 on Wednesday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.26. JPMorgan Chase & Co. has a 52 week low of $202.16 and a 52 week high of $322.25. The firm has a market capitalization of $817.29 billion, a price-to-earnings ratio of 14.87, a PEG ratio of 1.63 and a beta of 1.08. The company has a fifty day moving average of $306.41 and a two-hundred day moving average of $295.75.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.83 by $0.24. JPMorgan Chase & Co. had a net margin of 20.90% and a return on equity of 17.18%. The firm had revenue of $47.12 billion during the quarter, compared to analyst estimates of $44.42 billion. During the same quarter last year, the business earned $4.37 EPS. The business’s revenue was up 8.8% on a year-over-year basis. On average, analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, January 31st. Shareholders of record on Tuesday, January 6th will be given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Tuesday, January 6th. JPMorgan Chase & Co.’s payout ratio is 29.72%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on JPM. Wolfe Research increased their target price on shares of JPMorgan Chase & Co. from $342.00 to $346.00 and gave the stock an “outperform” rating in a report on Thursday, October 16th. Citigroup raised their target price on shares of JPMorgan Chase & Co. from $275.00 to $325.00 and gave the company a “neutral” rating in a research note on Wednesday, September 24th. Cowen reiterated a “buy” rating on shares of JPMorgan Chase & Co. in a report on Tuesday. Weiss Ratings reissued a “buy (b+)” rating on shares of JPMorgan Chase & Co. in a report on Monday. Finally, UBS Group lifted their price objective on JPMorgan Chase & Co. from $339.00 to $350.00 and gave the stock a “buy” rating in a research note on Tuesday, October 7th. Fifteen equities research 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’s stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. has a consensus rating of “Hold” and a consensus price target of $325.48.

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.