Peregrine Asset Advisers Inc. Cuts Position in JPMorgan Chase & Co. $JPM

Peregrine Asset Advisers Inc. cut its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 3.4% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 4,891 shares of the financial services provider’s stock after selling 172 shares during the period. Peregrine Asset Advisers Inc.’s holdings in JPMorgan Chase & Co. were worth $1,418,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of JPM. Access Investment Management LLC bought a new stake in shares of JPMorgan Chase & Co. in the 2nd quarter worth about $14,609,000. Astra Wealth Partners LLC raised its position in JPMorgan Chase & Co. by 15.9% during the 2nd quarter. Astra Wealth Partners LLC now owns 1,106 shares of the financial services provider’s stock valued at $321,000 after purchasing an additional 152 shares in the last quarter. Tsfg LLC lifted its stake in JPMorgan Chase & Co. by 1.8% in the second quarter. Tsfg LLC now owns 3,964 shares of the financial services provider’s stock worth $1,149,000 after acquiring an additional 69 shares during the period. Westside Investment Management Inc. increased its holdings in JPMorgan Chase & Co. by 6.9% during the second quarter. Westside Investment Management Inc. now owns 6,402 shares of the financial services provider’s stock valued at $1,857,000 after buying an additional 416 shares during the period. Finally, Texas Bank & Trust Co lifted its stake in shares of JPMorgan Chase & Co. by 0.5% during the 2nd quarter. Texas Bank & Trust Co now owns 29,125 shares of the financial services provider’s stock worth $8,444,000 after purchasing an additional 153 shares during the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Insider Activity

In related news, Director Linda Bammann sold 9,500 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the completion of the transaction, the director directly owned 82,207 shares of the company’s stock, valued at $24,492,753.58. This represents a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Robin Leopold sold 966 shares of the business’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $311.92, for a total transaction of $301,314.72. Following the sale, the insider owned 58,479 shares in the company, valued at $18,240,769.68. The trade was a 1.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.47% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on JPM shares. Zacks Research upgraded JPMorgan Chase & Co. from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 20th. TD Cowen lifted their price target on JPMorgan Chase & Co. from $350.00 to $370.00 and gave the company a “buy” rating in a research report on Friday, October 3rd. Barclays upped their price objective on shares of JPMorgan Chase & Co. from $330.00 to $342.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 15th. Dbs Bank upgraded JPMorgan Chase & Co. to a “hold” rating in a research report on Tuesday, October 21st. Finally, Wall Street Zen upgraded JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $326.38.

JPMorgan Chase & Co. Stock Up 1.4%

JPM stock opened at $320.11 on Thursday. JPMorgan Chase & Co. has a fifty-two week low of $202.16 and a fifty-two week high of $322.25. The company’s 50 day moving average price is $307.23 and its 200 day moving average price is $288.84. The firm has a market capitalization of $871.42 billion, a price-to-earnings ratio of 15.85, a PEG ratio of 1.84 and a beta of 1.14. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.86.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.83 by $0.24. The firm had revenue of $46.43 billion during the quarter, compared to the consensus estimate of $44.42 billion. JPMorgan Chase & Co. had a return on equity of 17.18% and a net margin of 20.90%.The firm’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same period in the prior year, the company posted $4.37 earnings per share. On average, equities research analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Monday, October 6th were issued a dividend of $1.50 per share. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. This represents a $6.00 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Monday, October 6th. JPMorgan Chase & Co.’s dividend payout ratio is 29.72%.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.