Mark Sheptoff Financial Planning LLC Reduces Position in JPMorgan Chase & Co. (NYSE:JPM)

Mark Sheptoff Financial Planning LLC trimmed its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 27.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,442 shares of the financial services provider’s stock after selling 550 shares during the quarter. Mark Sheptoff Financial Planning LLC’s holdings in JPMorgan Chase & Co. were worth $224,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Adams Chetwood Wealth Management LLC boosted its stake in JPMorgan Chase & Co. by 1.7% in the first quarter. Adams Chetwood Wealth Management LLC now owns 3,803 shares of the financial services provider’s stock valued at $579,000 after acquiring an additional 65 shares during the last quarter. First PREMIER Bank boosted its position in shares of JPMorgan Chase & Co. by 0.3% during the second quarter. First PREMIER Bank now owns 20,301 shares of the financial services provider’s stock worth $3,157,000 after purchasing an additional 68 shares in the last quarter. Breiter Capital Management Inc. boosted its position in shares of JPMorgan Chase & Co. by 0.6% during the second quarter. Breiter Capital Management Inc. now owns 11,649 shares of the financial services provider’s stock worth $1,812,000 after purchasing an additional 69 shares in the last quarter. Verity Asset Management Inc. boosted its position in shares of JPMorgan Chase & Co. by 4.6% during the second quarter. Verity Asset Management Inc. now owns 1,562 shares of the financial services provider’s stock worth $243,000 after purchasing an additional 69 shares in the last quarter. Finally, Element Wealth LLC boosted its position in shares of JPMorgan Chase & Co. by 1.4% during the second quarter. Element Wealth LLC now owns 5,195 shares of the financial services provider’s stock worth $808,000 after purchasing an additional 70 shares in the last quarter. 69.67% of the stock is currently owned by institutional investors and hedge funds.

Shares of JPM stock traded down $0.75 during midday trading on Tuesday, hitting $166.23. 518,025 shares of the company were exchanged, compared to its average volume of 13,680,089. The firm has a market capitalization of $496.72 billion, a P/E ratio of 11.25, a PEG ratio of 2.24 and a beta of 1.20. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.85 and a current ratio of 0.85. The firm’s 50 day moving average price is $156.95 and its two-hundred day moving average price is $156.46. JPMorgan Chase & Co. has a 52 week low of $94.33 and a 52 week high of $167.44.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Monday, July 12th. The financial services provider reported $3.78 EPS for the quarter, topping the consensus estimate of $3.09 by $0.69. The business had revenue of $30.50 billion during the quarter, compared to the consensus estimate of $29.71 billion. JPMorgan Chase & Co. had a net margin of 37.71% and a return on equity of 19.26%. JPMorgan Chase & Co.’s revenue was down 7.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.38 EPS. Analysts expect that JPMorgan Chase & Co. will post 14.05 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, October 31st. Shareholders of record on Wednesday, October 6th will be issued a $1.00 dividend. The ex-dividend date of this dividend is Tuesday, October 5th. This represents a $4.00 dividend on an annualized basis and a yield of 2.41%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $0.90. JPMorgan Chase & Co.’s payout ratio is currently 40.54%.

JPM has been the topic of a number of recent analyst reports. BMO Capital Markets lifted their price target on shares of JPMorgan Chase & Co. from $136.00 to $141.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 14th. Credit Suisse Group set a $177.00 price objective on shares of JPMorgan Chase & Co. in a report on Monday, August 23rd. Wells Fargo & Company raised their price objective on shares of JPMorgan Chase & Co. from $195.00 to $200.00 and gave the stock an “overweight” rating in a report on Tuesday, June 8th. Zacks Investment Research upgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and set a $175.00 price objective on the stock in a report on Tuesday. Finally, The Goldman Sachs Group set a $182.00 price objective on shares of JPMorgan Chase & Co. and gave the stock a “buy” rating in a report on Friday, June 25th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $167.18.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co is a financial holding company. It provides financial and investment banking services. The firm offers a range of investment banking products and services in all capital markets, including advising on corporate strategy and structure, capital raising in equity and debt markets, risk management, market making in cash securities and derivative instruments, and brokerage and research.

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

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