Russell Investments Group Ltd. Decreases Holdings in JPMorgan Chase & Co. $JPM

Russell Investments Group Ltd. reduced its stake in JPMorgan Chase & Co. (NYSE:JPM) by 7.7% during the second quarter, according to its most recent filing with the SEC. The fund owned 1,685,265 shares of the financial services provider’s stock after selling 140,331 shares during the quarter. JPMorgan Chase & Co. accounts for approximately 0.6% of Russell Investments Group Ltd.’s portfolio, making the stock its 15th largest holding. Russell Investments Group Ltd. owned 0.06% of JPMorgan Chase & Co. worth $488,173,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in JPM. Maia Wealth LLC boosted its stake in JPMorgan Chase & Co. by 39.0% in the second quarter. Maia Wealth LLC now owns 7,075 shares of the financial services provider’s stock valued at $2,051,000 after acquiring an additional 1,986 shares during the last quarter. Teramo Advisors LLC bought a new stake in shares of JPMorgan Chase & Co. in the 2nd quarter worth approximately $224,000. Correct Capital Wealth Management lifted its stake in JPMorgan Chase & Co. by 4.3% in the second quarter. Correct Capital Wealth Management now owns 11,772 shares of the financial services provider’s stock valued at $3,413,000 after purchasing an additional 490 shares during the last quarter. Inceptionr LLC bought a new position in JPMorgan Chase & Co. during the second quarter valued at $1,069,000. Finally, Viawealth LLC increased its position in JPMorgan Chase & Co. by 2.2% in the second quarter. Viawealth LLC now owns 5,090 shares of the financial services provider’s stock worth $1,476,000 after buying an additional 108 shares during the last quarter. Institutional investors own 71.55% of the company’s stock.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, insider Robin Leopold sold 966 shares of the company’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $311.92, for a total value of $301,314.72. Following the transaction, the insider directly owned 58,479 shares in the company, valued at $18,240,769.68. This represents a 1.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.47% of the stock is currently owned by insiders.

JPMorgan Chase & Co. Price Performance

Shares of NYSE:JPM opened at $307.84 on Wednesday. The company has a 50 day moving average of $306.73 and a 200 day moving average of $294.02. The stock has a market cap of $838.02 billion, a P/E ratio of 15.25, a P/E/G ratio of 1.84 and a beta of 1.14. JPMorgan Chase & Co. has a 12 month low of $202.16 and a 12 month high of $322.25. The company has a current ratio of 0.86, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.83 by $0.24. JPMorgan Chase & Co. had a net margin of 20.90% and a return on equity of 17.18%. The business had revenue of $47.12 billion for the quarter, compared to analysts’ expectations of $44.42 billion. During the same period in the prior year, the company posted $4.37 EPS. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. As a group, sell-side analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Monday, October 6th were paid a dividend of $1.50 per share. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. This represents a $6.00 annualized dividend and a 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%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on JPM. Deutsche Bank Aktiengesellschaft upped their price target on JPMorgan Chase & Co. from $300.00 to $320.00 and gave the company a “hold” rating in a research report on Tuesday, September 30th. Zacks Research lowered shares of JPMorgan Chase & Co. from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 18th. Morgan Stanley lifted their target price on shares of JPMorgan Chase & Co. from $336.00 to $338.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 15th. Daiwa Capital Markets upped their price target on shares of JPMorgan Chase & Co. from $330.00 to $332.00 and gave the company an “outperform” rating in a research note on Wednesday, October 8th. Finally, Wolfe Research raised their price objective on shares of JPMorgan Chase & Co. from $342.00 to $346.00 and gave the stock an “outperform” rating in a report on Thursday, October 16th. Fifteen equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, JPMorgan Chase & Co. presently has a consensus rating of “Hold” and a consensus price target of $326.38.

About JPMorgan Chase & Co.

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.