Turn8 Private Wealth Inc. Sells 1,075 Shares of JPMorgan Chase & Co. $JPM

Turn8 Private Wealth Inc. cut its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 7.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 13,543 shares of the financial services provider’s stock after selling 1,075 shares during the period. JPMorgan Chase & Co. comprises approximately 2.9% of Turn8 Private Wealth Inc.’s holdings, making the stock its 14th largest position. Turn8 Private Wealth Inc.’s holdings in JPMorgan Chase & Co. were worth $3,935,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of JPM. Mosaic Financial Group LLC raised its holdings in shares of JPMorgan Chase & Co. by 0.8% in the first quarter. Mosaic Financial Group LLC now owns 9,296 shares of the financial services provider’s stock worth $2,280,000 after buying an additional 78 shares during the period. Morse Asset Management Inc grew its position in JPMorgan Chase & Co. by 19.5% in the 1st quarter. Morse Asset Management Inc now owns 2,569 shares of the financial services provider’s stock valued at $630,000 after acquiring an additional 420 shares during the last quarter. Aviva PLC increased its stake in JPMorgan Chase & Co. by 6.0% in the second quarter. Aviva PLC now owns 2,232,458 shares of the financial services provider’s stock worth $647,212,000 after purchasing an additional 126,742 shares during the period. Kelman Lazarov Inc. lifted its position in shares of JPMorgan Chase & Co. by 16.9% during the second quarter. Kelman Lazarov Inc. now owns 1,257 shares of the financial services provider’s stock worth $364,000 after purchasing an additional 182 shares during the last quarter. Finally, Gladwyn Financial Advisors Inc. bought a new position in shares of JPMorgan Chase & Co. in the second quarter worth about $534,000. 71.55% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on JPM shares. Wolfe Research boosted their price objective on shares of JPMorgan Chase & Co. from $342.00 to $346.00 and gave the company an “outperform” rating in a research report on Thursday, October 16th. Deutsche Bank Aktiengesellschaft increased their price objective on JPMorgan Chase & Co. from $300.00 to $320.00 and gave the stock a “hold” rating in a research note on Tuesday, September 30th. UBS Group lifted their target price on JPMorgan Chase & Co. from $339.00 to $350.00 and gave the company a “buy” rating in a research report on Tuesday, October 7th. Citigroup increased their price target on JPMorgan Chase & Co. from $275.00 to $325.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 24th. Finally, Evercore ISI raised their price target on JPMorgan Chase & Co. from $309.00 to $330.00 and gave the company an “outperform” rating in a research note on Tuesday, September 30th. Fifteen equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. presently has a consensus rating of “Hold” and a consensus price target of $326.38.

JPMorgan Chase & Co. Stock Performance

JPM stock opened at $297.82 on Friday. The firm has a market cap of $810.74 billion, a price-to-earnings ratio of 14.75, a PEG ratio of 1.84 and a beta of 1.14. The firm has a 50-day simple moving average of $307.43 and a two-hundred day simple moving average of $291.20. JPMorgan Chase & Co. has a one year low of $202.16 and a one year high of $322.25. 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 issued its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $47.12 billion for the quarter, compared to the consensus estimate of $44.42 billion. During the same quarter in the previous year, the firm earned $4.37 EPS. The company’s quarterly revenue was up 8.8% compared to the same quarter last year. On average, equities 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 declared a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Monday, October 6th were given a dividend of $1.50 per share. The ex-dividend date of this dividend was Monday, October 6th. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.0%. JPMorgan Chase & Co.’s payout ratio is currently 29.72%.

Insider Buying and Selling at JPMorgan Chase & Co.

In related news, Director Linda Bammann sold 9,500 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following 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 position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Robin Leopold sold 966 shares of the stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $311.92, for a total value of $301,314.72. Following the completion of the sale, the insider owned 58,479 shares of the company’s stock, valued at approximately $18,240,769.68. This trade represents a 1.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.47% of the company’s stock.

JPMorgan Chase & Co. 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.