SOA Wealth Advisors LLC. Reduces Stock Holdings in JPMorgan Chase & Co. $JPM

SOA Wealth Advisors LLC. decreased its position in JPMorgan Chase & Co. (NYSE:JPM) by 1.6% during the 2nd quarter, Holdings Channel.com reports. The firm owned 43,706 shares of the financial services provider’s stock after selling 725 shares during the period. JPMorgan Chase & Co. comprises about 1.4% of SOA Wealth Advisors LLC.’s portfolio, making the stock its 15th biggest holding. SOA Wealth Advisors LLC.’s holdings in JPMorgan Chase & Co. were worth $12,671,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the company. Kingstone Capital Partners Texas LLC raised its holdings in JPMorgan Chase & Co. by 609,867.5% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 72,897,211 shares of the financial services provider’s stock valued at $21,133,630,000 after acquiring an additional 72,885,260 shares during the period. Bank of New York Mellon Corp raised its holdings in JPMorgan Chase & Co. by 1.9% during the 1st quarter. Bank of New York Mellon Corp now owns 24,801,153 shares of the financial services provider’s stock valued at $6,083,723,000 after acquiring an additional 454,226 shares during the period. Goldman Sachs Group Inc. raised its holdings in JPMorgan Chase & Co. by 2.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 20,548,182 shares of the financial services provider’s stock valued at $5,040,469,000 after acquiring an additional 548,853 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in JPMorgan Chase & Co. by 5.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 18,441,044 shares of the financial services provider’s stock valued at $4,523,588,000 after acquiring an additional 890,553 shares during the period. Finally, Nuveen LLC bought a new stake in JPMorgan Chase & Co. during the 1st quarter valued at $3,972,807,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Insider Transactions at JPMorgan Chase & Co.

In related news, Director Linda Bammann sold 9,500 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total value of $2,830,430.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.47% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Wells Fargo & Company boosted their target price on shares of JPMorgan Chase & Co. from $325.00 to $345.00 and gave the company an “overweight” rating in a report on Tuesday, September 16th. Baird R W cut shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a report on Friday, June 27th. Hsbc Global Res cut shares of JPMorgan Chase & Co. from a “hold” rating to a “moderate sell” rating in a report on Tuesday, July 8th. Bank of America upped their price target on shares of JPMorgan Chase & Co. from $330.00 to $340.00 and gave the stock a “buy” rating in a report on Wednesday, July 16th. Finally, Morgan Stanley upped their price target on shares of JPMorgan Chase & Co. from $298.00 to $336.00 and gave the stock an “equal weight” rating in a report on Monday, September 29th. Fifteen analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $309.95.

JPMorgan Chase & Co. Stock Down 0.5%

Shares of NYSE:JPM opened at $307.61 on Wednesday. JPMorgan Chase & Co. has a 52-week low of $202.16 and a 52-week high of $318.01. The firm has a fifty day moving average of $301.10 and a 200 day moving average of $275.67. The firm has a market capitalization of $845.85 billion, a PE ratio of 15.78, a price-to-earnings-growth ratio of 2.03 and a beta of 1.13. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.88 and a current ratio of 0.88.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.48 by $0.48. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The business had revenue of $44.91 billion during the quarter, compared to analyst estimates of $43.76 billion. During the same period in the prior year, the business posted $6.12 earnings per share. The company’s revenue was down 10.5% on a year-over-year basis. As a group, research analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, October 6th will be paid a $1.50 dividend. The ex-dividend date of this dividend is Monday, October 6th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. This represents a $6.00 dividend on an annualized basis and a yield of 2.0%. JPMorgan Chase & Co.’s payout ratio is currently 30.79%.

JPMorgan Chase & Co. Company 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.