King Luther Capital Management Corp Sells 48,872 Shares of JPMorgan Chase & Co. $JPM

King Luther Capital Management Corp reduced its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 2.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,795,437 shares of the financial services provider’s stock after selling 48,872 shares during the quarter. JPMorgan Chase & Co. accounts for approximately 2.3% of King Luther Capital Management Corp’s investment portfolio, making the stock its 7th biggest holding. King Luther Capital Management Corp owned approximately 0.06% of JPMorgan Chase & Co. worth $520,515,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. PFG Advisors increased its stake in shares of JPMorgan Chase & Co. by 19.4% during the 2nd quarter. PFG Advisors now owns 49,727 shares of the financial services provider’s stock worth $14,416,000 after purchasing an additional 8,097 shares during the last quarter. SFE Investment Counsel increased its position in JPMorgan Chase & Co. by 4.9% during the second quarter. SFE Investment Counsel now owns 64,092 shares of the financial services provider’s stock worth $18,581,000 after buying an additional 3,015 shares during the last quarter. Zions Bancorporation National Association UT increased its position in JPMorgan Chase & Co. by 1.8% during the second quarter. Zions Bancorporation National Association UT now owns 16,222 shares of the financial services provider’s stock worth $4,703,000 after buying an additional 280 shares during the last quarter. Reik & CO. LLC raised its stake in JPMorgan Chase & Co. by 237.1% in the second quarter. Reik & CO. LLC now owns 9,210 shares of the financial services provider’s stock valued at $2,670,000 after buying an additional 6,478 shares during the period. Finally, Future Fund LLC lifted its position in shares of JPMorgan Chase & Co. by 10.2% in the second quarter. Future Fund LLC now owns 4,336 shares of the financial services provider’s stock valued at $1,257,000 after buying an additional 403 shares during the last quarter. Institutional investors own 71.55% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on JPM. Deutsche Bank Aktiengesellschaft raised their price target on JPMorgan Chase & Co. from $300.00 to $320.00 and gave the company a “hold” rating in a report on Tuesday, September 30th. UBS Group raised their target price on shares of JPMorgan Chase & Co. from $339.00 to $350.00 and gave the stock a “buy” rating in a research note on Tuesday, October 7th. Evercore ISI lifted their target price on shares of JPMorgan Chase & Co. from $309.00 to $330.00 and gave the stock an “outperform” rating in a report on Tuesday, September 30th. Dbs Bank raised shares of JPMorgan Chase & Co. to a “hold” rating in a report on Tuesday, October 21st. Finally, TD Cowen raised their price objective on shares of JPMorgan Chase & Co. from $350.00 to $370.00 and gave the stock a “buy” rating in a research report on Friday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $326.38.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, insider Robin Leopold sold 966 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider directly owned 58,479 shares in the company, valued at approximately $18,240,769.68. This represents a 1.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Linda Bammann sold 9,500 shares of the firm’s stock in a transaction on 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 transaction, the director directly owned 82,207 shares of the company’s stock, valued at $24,492,753.58. The trade was a 10.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.47% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

NYSE:JPM opened at $303.46 on Thursday. JPMorgan Chase & Co. has a twelve month low of $202.16 and a twelve month high of $322.25. The company has a quick ratio of 0.88, a current ratio of 0.86 and a debt-to-equity ratio of 1.26. The stock’s 50-day simple moving average is $307.75 and its 200 day simple moving average is $290.83. The firm has a market capitalization of $826.09 billion, a PE ratio of 15.03, a price-to-earnings-growth ratio of 1.84 and a beta of 1.14.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share for the quarter, beating 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 analyst estimates of $44.42 billion. During the same quarter last year, the business posted $4.37 earnings per share. The company’s quarterly revenue was up 8.8% on a year-over-year basis. On average, analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Monday, October 6th were issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend was Monday, October 6th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. JPMorgan Chase & Co.’s payout ratio is presently 29.72%.

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.