Mitsubishi UFJ Trust & Banking Corp Reduces Position in JPMorgan Chase & Co. (NYSE:JPM)

Mitsubishi UFJ Trust & Banking Corp decreased its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 8.3% in the second quarter, HoldingsChannel reports. The fund owned 2,894,677 shares of the financial services provider’s stock after selling 262,357 shares during the quarter. JPMorgan Chase & Co. makes up about 0.7% of Mitsubishi UFJ Trust & Banking Corp’s portfolio, making the stock its 24th largest holding. Mitsubishi UFJ Trust & Banking Corp’s holdings in JPMorgan Chase & Co. were worth $272,274,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Hayek Kallen Investment Management increased its position in JPMorgan Chase & Co. by 17.9% in the second quarter. Hayek Kallen Investment Management now owns 22,774 shares of the financial services provider’s stock worth $2,142,000 after buying an additional 3,460 shares in the last quarter. Capital Advisors Inc. OK grew its stake in shares of JPMorgan Chase & Co. by 25.1% during the 2nd quarter. Capital Advisors Inc. OK now owns 253,940 shares of the financial services provider’s stock valued at $24,693,000 after acquiring an additional 50,968 shares during the period. Garde Capital Inc. bought a new position in shares of JPMorgan Chase & Co. during the 2nd quarter valued at approximately $200,000. Bridgeway Capital Management Inc. increased its holdings in JPMorgan Chase & Co. by 189.7% in the 2nd quarter. Bridgeway Capital Management Inc. now owns 456,195 shares of the financial services provider’s stock worth $42,910,000 after acquiring an additional 298,700 shares in the last quarter. Finally, Advisor OS LLC bought a new stake in JPMorgan Chase & Co. during the 2nd quarter worth approximately $314,000. Hedge funds and other institutional investors own 69.35% of the company’s stock.

A number of analysts have recently issued reports on JPM shares. Seaport Global Securities initiated coverage on shares of JPMorgan Chase & Co. in a research note on Wednesday, July 8th. They issued a “buy” rating and a $119.00 price objective for the company. Odeon Capital Group raised JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and set a $105.75 price target on the stock in a report on Wednesday, May 20th. Goldman Sachs Group upgraded JPMorgan Chase & Co. from a “neutral” rating to a “buy” rating in a research report on Friday, July 24th. BMO Capital Markets increased their target price on JPMorgan Chase & Co. from $108.00 to $119.00 in a research report on Wednesday, July 15th. Finally, Wells Fargo & Company boosted their price target on JPMorgan Chase & Co. from $115.00 to $130.00 in a report on Friday, June 5th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $111.37.

In related news, CEO Mary E. Erdoes sold 24,554 shares of the stock in a transaction on Wednesday, July 15th. The stock was sold at an average price of $99.52, for a total transaction of $2,443,614.08. Insiders own 0.78% of the company’s stock.

Shares of JPMorgan Chase & Co. stock traded up $0.42 during trading hours on Wednesday, reaching $99.70. The company’s stock had a trading volume of 19,263,820 shares, compared to its average volume of 20,919,412. The firm has a 50 day moving average price of $100.06 and a 200-day moving average price of $97.29. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.88 and a quick ratio of 0.88. The stock has a market cap of $302.57 billion, a P/E ratio of 13.57, a P/E/G ratio of 3.39 and a beta of 1.16. JPMorgan Chase & Co. has a one year low of $76.91 and a one year high of $141.10.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $1.38 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.34 by $0.04. JPMorgan Chase & Co. had a return on equity of 10.75% and a net margin of 18.16%. The company had revenue of $32.98 billion during the quarter, compared to analyst estimates of $30.23 billion. During the same quarter last year, the business posted $2.82 earnings per share. The firm’s revenue was up 14.7% on a year-over-year basis. As a group, sell-side analysts forecast that JPMorgan Chase & Co. will post 5.96 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Saturday, October 31st. Stockholders of record on Tuesday, October 6th will be given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 3.61%. JPMorgan Chase & Co.’s dividend payout ratio is currently 34.35%.

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.

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

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