Holocene Advisors LP Cuts Position in JPMorgan Chase & Co. (NYSE:JPM)

Holocene Advisors LP lessened its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 83.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,662 shares of the financial services provider’s stock after selling 65,080 shares during the period. Holocene Advisors LP’s holdings in JPMorgan Chase & Co. were worth $1,416,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Charles Schwab Investment Management Inc. increased its stake in JPMorgan Chase & Co. by 1.9% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 15,021,076 shares of the financial services provider’s stock worth $1,679,357,000 after buying an additional 275,854 shares in the last quarter. Parametric Portfolio Associates LLC grew its position in shares of JPMorgan Chase & Co. by 2.5% in the second quarter. Parametric Portfolio Associates LLC now owns 11,155,325 shares of the financial services provider’s stock valued at $1,247,165,000 after purchasing an additional 272,685 shares in the last quarter. APG Asset Management N.V. grew its position in shares of JPMorgan Chase & Co. by 5.0% in the second quarter. APG Asset Management N.V. now owns 8,002,662 shares of the financial services provider’s stock valued at $785,649,000 after purchasing an additional 384,282 shares in the last quarter. Rhumbline Advisers grew its position in shares of JPMorgan Chase & Co. by 0.5% in the fourth quarter. Rhumbline Advisers now owns 5,870,204 shares of the financial services provider’s stock valued at $573,049,000 after purchasing an additional 31,681 shares in the last quarter. Finally, Fisher Asset Management LLC grew its position in shares of JPMorgan Chase & Co. by 4.0% in the second quarter. Fisher Asset Management LLC now owns 5,811,331 shares of the financial services provider’s stock valued at $649,707,000 after purchasing an additional 223,850 shares in the last quarter. Hedge funds and other institutional investors own 71.89% of the company’s stock.

A number of equities research analysts have recently issued reports on JPM shares. Goldman Sachs Group restated a “neutral” rating and issued a $117.00 price target on shares of JPMorgan Chase & Co. in a research report on Monday, July 22nd. Morgan Stanley set a $122.00 price target on JPMorgan Chase & Co. and gave the company a “buy” rating in a research report on Friday, August 9th. Royal Bank of Canada restated a “buy” rating and issued a $120.00 price target on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 16th. Buckingham Research lowered JPMorgan Chase & Co. from a “buy” rating to a “neutral” rating and set a $122.00 price target for the company. in a research report on Monday. They noted that the move was a valuation call. Finally, Wells Fargo & Co set a $125.00 price target on JPMorgan Chase & Co. and gave the company a “buy” rating in a research report on Friday, August 16th. Thirteen investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. JPMorgan Chase & Co. has a consensus rating of “Hold” and an average target price of $121.94.

NYSE:JPM opened at $118.57 on Wednesday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.22. The stock’s fifty day moving average is $111.03 and its two-hundred day moving average is $109.98. JPMorgan Chase & Co. has a 52 week low of $91.11 and a 52 week high of $120.40. The stock has a market capitalization of $384.43 billion, a price-to-earnings ratio of 13.17, a price-to-earnings-growth ratio of 1.74 and a beta of 1.19.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $2.82 EPS for the quarter, topping analysts’ consensus estimates of $2.50 by $0.32. JPMorgan Chase & Co. had a return on equity of 14.40% and a net margin of 24.73%. The company had revenue of $28.83 billion for the quarter, compared to analysts’ expectations of $28.52 billion. During the same period in the prior year, the firm earned $2.29 earnings per share. The firm’s revenue was up 3.9% compared to the same quarter last year. On average, sell-side analysts expect that JPMorgan Chase & Co. will post 9.88 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 4th will be paid a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 3.04%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $0.80. JPMorgan Chase & Co.’s dividend payout ratio is 35.56%.

In other news, EVP Peter Scher sold 10,816 shares of the stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $115.00, for a total value of $1,243,840.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Mellody L. Hobson acquired 18,200 shares of JPMorgan Chase & Co. stock in a transaction dated Thursday, August 8th. The stock was bought at an average price of $109.91 per share, for a total transaction of $2,000,362.00. Following the completion of the purchase, the director now owns 7,804 shares of the company’s stock, valued at approximately $857,737.64. The disclosure for this purchase can be found here. 0.76% of the stock is owned by corporate insiders.

About JPMorgan Chase & Co.

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit card, payment processing, auto loan, and leasing services.

Further Reading: What does a neutral rating on stocks mean?

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

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