Wealthfront Advisers LLC Cuts Stake in JPMorgan Chase & Co. (NYSE:JPM)

Wealthfront Advisers LLC reduced its position in JPMorgan Chase & Co. (NYSE:JPM) by 0.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 148,856 shares of the financial services provider’s stock after selling 463 shares during the quarter. JPMorgan Chase & Co. comprises approximately 0.1% of Wealthfront Advisers LLC’s investment portfolio, making the stock its 27th biggest holding. Wealthfront Advisers LLC’s holdings in JPMorgan Chase & Co. were worth $17,519,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in JPM. Personal Wealth Partners acquired a new stake in shares of JPMorgan Chase & Co. during the second quarter worth $28,000. MRA Associates USA LLC acquired a new stake in shares of JPMorgan Chase & Co. during the second quarter worth $30,000. Global Trust Asset Management LLC lifted its stake in shares of JPMorgan Chase & Co. by 2,027.2% during the second quarter. Global Trust Asset Management LLC now owns 5,318 shares of the financial services provider’s stock worth $33,000 after buying an additional 5,068 shares during the period. Titan Capital Management LLC CA acquired a new stake in shares of JPMorgan Chase & Co. during the second quarter worth $35,000. Finally, Redhawk Wealth Advisors Inc. acquired a new stake in shares of JPMorgan Chase & Co. during the second quarter worth $56,000. 71.94% of the stock is currently owned by institutional investors and hedge funds.

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

NYSE JPM traded up $0.18 on Wednesday, reaching $120.14. 7,285,252 shares of the company’s stock traded hands, compared to its average volume of 11,265,596. The firm has a market cap of $371.36 billion, a price-to-earnings ratio of 13.35, a P/E/G ratio of 1.67 and a beta of 1.20. The stock has a 50 day moving average price of $114.98 and a 200-day moving average price of $111.82. JPMorgan Chase & Co. has a fifty-two week low of $91.11 and a fifty-two week high of $121.59. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.97 and a current ratio of 0.97.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Tuesday, October 15th. The financial services provider reported $2.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.45 by $0.23. The company had revenue of $29.34 billion during the quarter, compared to the consensus estimate of $28.36 billion. JPMorgan Chase & Co. had a net margin of 24.73% and a return on equity of 14.40%. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the firm posted $2.34 earnings per share. As a group, equities research analysts anticipate that JPMorgan Chase & Co. will post 9.91 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 4th will be issued a $0.90 dividend. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Thursday, October 3rd. This represents a $3.60 dividend on an annualized basis and a yield of 3.00%. JPMorgan Chase & Co.’s payout ratio is presently 40.00%.

Several research firms have recently commented on JPM. Morgan Stanley lifted their price objective on shares of JPMorgan Chase & Co. from $122.00 to $124.00 and gave the stock an “overweight” rating in a research note on Wednesday. Buckingham Research downgraded shares of JPMorgan Chase & Co. from a “buy” rating to a “neutral” rating and set a $122.00 price objective for the company. in a research note on Monday, September 16th. They noted that the move was a valuation call. Goldman Sachs Group reiterated a “neutral” rating and set a $117.00 price objective on shares of JPMorgan Chase & Co. in a research note on Monday, July 22nd. ValuEngine upgraded shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research note on Wednesday, September 4th. Finally, UBS Group lifted their price objective on shares of JPMorgan Chase & Co. from $131.00 to $132.00 and gave the stock a “buy” rating in a research note on Wednesday. Thirteen analysts have rated the stock with a hold rating and six have issued a buy rating to the company. JPMorgan Chase & Co. has a consensus rating of “Hold” and a consensus target price of $120.94.

JPMorgan Chase & Co. Profile

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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