JPMorgan Chase & Co. (JPM) Shares Sold by Acadian Asset Management LLC

Acadian Asset Management LLC reduced its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 64.2% in the second quarter, Holdings Channel reports. The fund owned 1,087,998 shares of the financial services provider’s stock after selling 1,953,812 shares during the quarter. Acadian Asset Management LLC’s holdings in JPMorgan Chase & Co. were worth $113,372,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Norris Perne & French LLP MI lifted its stake in shares of JPMorgan Chase & Co. by 2.8% during the 2nd quarter. Norris Perne & French LLP MI now owns 81,254 shares of the financial services provider’s stock worth $8,467,000 after acquiring an additional 2,244 shares during the last quarter. WoodTrust Financial Corp lifted its stake in shares of JPMorgan Chase & Co. by 33.0% during the 2nd quarter. WoodTrust Financial Corp now owns 52,646 shares of the financial services provider’s stock worth $5,486,000 after acquiring an additional 13,062 shares during the last quarter. Skylands Capital LLC lifted its stake in shares of JPMorgan Chase & Co. by 1.9% during the 2nd quarter. Skylands Capital LLC now owns 108,350 shares of the financial services provider’s stock worth $11,290,000 after acquiring an additional 2,050 shares during the last quarter. Bank Hapoalim BM lifted its stake in shares of JPMorgan Chase & Co. by 8.2% during the 2nd quarter. Bank Hapoalim BM now owns 35,021 shares of the financial services provider’s stock worth $3,650,000 after acquiring an additional 2,642 shares during the last quarter. Finally, Focused Investors LLC lifted its stake in shares of JPMorgan Chase & Co. by 0.8% during the 2nd quarter. Focused Investors LLC now owns 1,011,900 shares of the financial services provider’s stock worth $105,440,000 after acquiring an additional 7,900 shares during the last quarter. 70.56% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages have weighed in on JPM. Royal Bank of Canada reaffirmed a “buy” rating and set a $120.00 target price on shares of JPMorgan Chase & Co. in a research report on Monday, July 16th. Citigroup lifted their target price on JPMorgan Chase & Co. from $115.00 to $125.00 and gave the company a “neutral” rating in a research report on Wednesday, September 26th. Goldman Sachs Group set a $128.00 target price on JPMorgan Chase & Co. and gave the company a “neutral” rating in a research report on Monday, July 23rd. Zacks Investment Research lowered JPMorgan Chase & Co. from a “hold” rating to a “sell” rating in a research report on Monday, July 2nd. Finally, Societe Generale reaffirmed a “neutral” rating and set a $119.50 target price on shares of JPMorgan Chase & Co. in a research report on Monday, July 16th. Eleven equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. JPMorgan Chase & Co. presently has a consensus rating of “Buy” and a consensus price target of $122.13.

JPM opened at $115.32 on Tuesday. The firm has a market capitalization of $387.26 billion, a PE ratio of 16.51, a P/E/G ratio of 1.85 and a beta of 1.17. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.01 and a quick ratio of 1.01. JPMorgan Chase & Co. has a 12 month low of $94.96 and a 12 month high of $119.33.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Friday, July 13th. The financial services provider reported $2.29 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.22 by $0.07. The firm had revenue of $27.75 billion during the quarter, compared to analyst estimates of $27.62 billion. JPMorgan Chase & Co. had a return on equity of 13.18% and a net margin of 22.80%. Research analysts expect that JPMorgan Chase & Co. will post 9.17 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 31st. Stockholders of record on Friday, October 5th will be given a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 2.77%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $0.56. The ex-dividend date of this dividend is Thursday, October 4th. JPMorgan Chase & Co.’s payout ratio is presently 46.58%.

In other news, CEO Gordon Smith sold 30,725 shares of the business’s stock in a transaction on Monday, July 23rd. The stock was sold at an average price of $114.01, for a total value of $3,502,957.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.73% of the company’s stock.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking, and Asset & Wealth Management. The Consumer & Community Banking segment offers deposit and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; residential mortgages and home equity loans; and credit cards, payment processing services, auto loans and leases.

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Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

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