Gordon Smith Sells 83,289 Shares of JPMorgan Chase & Co. (NYSE:JPM) Stock

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JPMorgan Chase & Co. (NYSE:JPM) CEO Gordon Smith sold 83,289 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $119.98, for a total value of $9,993,014.22. Following the sale, the chief executive officer now directly owns 393,197 shares in the company, valued at approximately $47,175,776.06. The sale was disclosed in a document filed with the SEC, which is available at this link.

JPMorgan Chase & Co. stock opened at $120.56 on Friday. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.93 and a quick ratio of 0.97. The company has a market capitalization of $384.82 billion, a PE ratio of 13.40, a price-to-earnings-growth ratio of 1.70 and a beta of 1.20. JPMorgan Chase & Co. has a one year low of $91.11 and a one year high of $121.59. The business has a 50 day simple moving average of $115.81 and a 200 day simple moving average of $112.10.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Tuesday, October 15th. The financial services provider reported $2.68 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.45 by $0.23. The business had revenue of $29.34 billion during the quarter, compared to the consensus estimate of $28.36 billion. JPMorgan Chase & Co. had a return on equity of 14.63% and a net margin of 24.70%. JPMorgan Chase & Co.’s revenue was up 7.6% on a year-over-year basis. During the same quarter last year, the company earned $2.34 EPS. Equities analysts anticipate that JPMorgan Chase & Co. will post 10.1 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 4th will be given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 2.99%. The ex-dividend date is Thursday, October 3rd. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $0.80. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 40.00%.

JPM has been the topic of several recent research reports. Royal Bank of Canada lifted their price objective on JPMorgan Chase & Co. to $125.00 and gave the stock an “outperform” rating in a report on Wednesday. Buckingham Research lowered JPMorgan Chase & Co. from a “buy” rating to a “neutral” rating and set a $122.00 price objective on the stock. in a report on Monday, September 16th. They noted that the move was a valuation call. BMO Capital Markets lifted their price objective on JPMorgan Chase & Co. to $126.00 in a report on Wednesday. Morgan Stanley lifted their price objective on JPMorgan Chase & Co. from $122.00 to $124.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Robert W. Baird lifted their price objective on JPMorgan Chase & Co. from $105.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday. Thirteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $121.94.

Several institutional investors have recently bought and sold shares of JPM. Nuveen Asset Management LLC lifted its position in shares of JPMorgan Chase & Co. by 2,432.9% during the 2nd quarter. Nuveen Asset Management LLC now owns 23,689,599 shares of the financial services provider’s stock worth $2,648,497,000 after buying an additional 22,754,332 shares during the period. Invesco Ltd. lifted its position in shares of JPMorgan Chase & Co. by 39.8% during the 2nd quarter. Invesco Ltd. now owns 23,689,706 shares of the financial services provider’s stock worth $2,648,509,000 after buying an additional 6,745,215 shares during the period. Thoroughbred Financial Services LLC lifted its position in shares of JPMorgan Chase & Co. by 11,601.0% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 4,973,970 shares of the financial services provider’s stock worth $497,397,000 after buying an additional 4,931,461 shares during the period. Renaissance Technologies LLC bought a new position in shares of JPMorgan Chase & Co. during the 2nd quarter worth approximately $331,575,000. Finally, Amundi Pioneer Asset Management Inc. lifted its position in shares of JPMorgan Chase & Co. by 43.3% during the 2nd quarter. Amundi Pioneer Asset Management Inc. now owns 7,563,083 shares of the financial services provider’s stock worth $845,552,000 after buying an additional 2,283,575 shares during the period. Institutional investors and hedge funds own 71.94% of the company’s stock.

About JPMorgan Chase & Co.

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit card, payment processing, auto loan, and leasing services.

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