Cim Investment Management Inc. Reduces Position in JPMorgan Chase & Co. (NYSE:JPM)

Cim Investment Management Inc. lessened its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,651 shares of the financial services provider’s stock after selling 73 shares during the quarter. JPMorgan Chase & Co. makes up 0.7% of Cim Investment Management Inc.’s portfolio, making the stock its 18th largest holding. Cim Investment Management Inc.’s holdings in JPMorgan Chase & Co. were worth $2,123,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of JPM. Turim 21 Investimentos Ltda. bought a new stake in shares of JPMorgan Chase & Co. during the 2nd quarter valued at $36,000. Capital Directions Investment Advisors LLC raised its position in shares of JPMorgan Chase & Co. by 27.7% during the 2nd quarter. Capital Directions Investment Advisors LLC now owns 392 shares of the financial services provider’s stock valued at $61,000 after purchasing an additional 85 shares during the period. Ten Capital Wealth Advisors LLC raised its position in shares of JPMorgan Chase & Co. by 19.2% during the 2nd quarter. Ten Capital Wealth Advisors LLC now owns 460 shares of the financial services provider’s stock valued at $72,000 after purchasing an additional 74 shares during the period. Financial Avengers Inc. raised its position in shares of JPMorgan Chase & Co. by 21.6% during the 1st quarter. Financial Avengers Inc. now owns 552 shares of the financial services provider’s stock valued at $84,000 after purchasing an additional 98 shares during the period. Finally, Lake Point Wealth Management bought a new stake in shares of JPMorgan Chase & Co. during the 2nd quarter valued at $109,000. Institutional investors and hedge funds own 69.67% of the company’s stock.

A number of brokerages have issued reports on JPM. Keefe, Bruyette & Woods began coverage on shares of JPMorgan Chase & Co. in a report on Wednesday, July 7th. They issued a “market perform” rating and a $167.00 price target on the stock. Credit Suisse Group set a $177.00 price target on shares of JPMorgan Chase & Co. in a report on Thursday. Barclays set a $187.00 price target on shares of JPMorgan Chase & Co. in a report on Wednesday, July 14th. Royal Bank of Canada lifted their price target on shares of JPMorgan Chase & Co. from $160.00 to $175.00 and gave the company an “outperform” rating in a report on Thursday. Finally, Morgan Stanley lifted their price target on shares of JPMorgan Chase & Co. from $150.00 to $166.00 and gave the company an “underweight” rating in a report on Thursday, July 29th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, JPMorgan Chase & Co. currently has an average rating of “Buy” and an average target price of $170.18.

JPMorgan Chase & Co. stock traded up $1.85 during trading hours on Thursday, hitting $162.85. The company had a trading volume of 552,749 shares, compared to its average volume of 13,593,163. The firm has a market cap of $486.62 billion, a P/E ratio of 10.87, a P/E/G 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. JPMorgan Chase & Co. has a 1 year low of $95.24 and a 1 year high of $171.51. The company has a 50-day moving average price of $160.59 and a two-hundred day moving average price of $157.52.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data on Tuesday, October 12th. The financial services provider reported $3.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.00 by $0.74. The company had revenue of $29.60 billion during the quarter, compared to analysts’ expectations of $29.63 billion. JPMorgan Chase & Co. had a net margin of 37.71% and a return on equity of 19.26%. The firm’s quarterly revenue was down 1.0% on a year-over-year basis. During the same period in the previous year, the company earned $2.92 EPS. As a group, equities research analysts anticipate that JPMorgan Chase & Co. will post 14.05 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Sunday, October 31st. Stockholders of record on Wednesday, October 6th will be given a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.46%. The ex-dividend date is Tuesday, October 5th. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $0.90. JPMorgan Chase & Co.’s dividend payout ratio is presently 45.05%.

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.

Featured Story: Trade War

Want to see what other hedge funds are holding JPM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for JPMorgan Chase & Co. (NYSE:JPM).

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

Receive News & Ratings for JPMorgan Chase & Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for JPMorgan Chase & Co. and related companies with MarketBeat.com's FREE daily email newsletter.