LSV Asset Management Sells 266,965 Shares of JPMorgan Chase & Co. (JPM)

LSV Asset Management decreased its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 2.3% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 11,434,275 shares of the financial services provider’s stock after selling 266,965 shares during the period. JPMorgan Chase & Co. accounts for about 1.9% of LSV Asset Management’s holdings, making the stock its 3rd largest position. LSV Asset Management owned about 0.33% of JPMorgan Chase & Co. worth $1,191,451,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of JPM. Quad Cities Investment Group LLC acquired a new stake in JPMorgan Chase & Co. in the 2nd quarter valued at approximately $124,000. Ballew Advisors Inc grew its holdings in JPMorgan Chase & Co. by 104.2% in the 2nd quarter. Ballew Advisors Inc now owns 1,213 shares of the financial services provider’s stock valued at $126,000 after buying an additional 619 shares during the last quarter. Financial Gravity Wealth Inc. acquired a new stake in JPMorgan Chase & Co. in the 1st quarter valued at approximately $150,000. Stelac Advisory Services LLC acquired a new stake in JPMorgan Chase & Co. in the 1st quarter valued at approximately $162,000. Finally, Private Ocean LLC grew its holdings in JPMorgan Chase & Co. by 94.7% in the 1st quarter. Private Ocean LLC now owns 1,694 shares of the financial services provider’s stock valued at $186,000 after buying an additional 824 shares during the last quarter. 69.14% of the stock is currently owned by institutional investors and hedge funds.

Shares of JPM stock opened at $106.65 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.17. JPMorgan Chase & Co. has a 12 month low of $97.93 and a 12 month high of $119.33. The company has a market capitalization of $366.02 billion, a price-to-earnings ratio of 15.52, a PEG ratio of 1.73 and a beta of 1.13.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Friday, October 12th. The financial services provider reported $2.34 EPS for the quarter, topping the Zacks’ consensus estimate of $2.24 by $0.10. JPMorgan Chase & Co. had a return on equity of 13.90% and a net margin of 23.39%. The company had revenue of $27.26 billion during the quarter, compared to the consensus estimate of $27.20 billion. During the same quarter last year, the company earned $1.76 EPS. On average, equities research analysts forecast that JPMorgan Chase & Co. will post 9.26 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 31st. Shareholders of record on Friday, October 5th were given a $0.80 dividend. The ex-dividend date of this dividend was Thursday, October 4th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.00%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $0.56. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 46.58%.

JPM has been the topic of a number of research analyst reports. Vining Sparks reaffirmed a “buy” rating and issued a $125.00 target price on shares of JPMorgan Chase & Co. in a report on Friday, October 12th. Zacks Investment Research lowered JPMorgan Chase & Co. from a “buy” rating to a “hold” rating in a report on Thursday, November 15th. Wells Fargo & Co set a $130.00 target price on JPMorgan Chase & Co. and gave the company a “buy” rating in a report on Thursday, November 15th. Goldman Sachs Group set a $130.00 target price on JPMorgan Chase & Co. and gave the company a “neutral” rating in a report on Friday, October 12th. Finally, Bank of America raised their target price on JPMorgan Chase & Co. from $126.00 to $132.00 and gave the company a “buy” rating in a report on Monday, September 17th. Eight research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $123.49.

In other news, Director Mellody L. Hobson acquired 1,150 shares of JPMorgan Chase & Co. stock in a transaction on Friday, October 19th. The stock was bought at an average price of $108.94 per share, for a total transaction of $125,281.00. Following the transaction, the director now owns 2,632 shares of the company’s stock, valued at $286,730.08. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 0.73% of the stock is currently owned by company insiders.

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About JPMorgan Chase & Co.

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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