W.G. Shaheen & Associates DBA Whitney & Co Has $26.82 Million Stock Position in JPMorgan Chase & Co. $JPM

W.G. Shaheen & Associates DBA Whitney & Co trimmed its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 92,493 shares of the financial services provider’s stock after selling 1,207 shares during the period. JPMorgan Chase & Co. accounts for 2.6% of W.G. Shaheen & Associates DBA Whitney & Co’s portfolio, making the stock its 9th largest holding. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in JPMorgan Chase & Co. were worth $26,815,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Harbor Asset Planning Inc. purchased a new stake in JPMorgan Chase & Co. during the second quarter valued at approximately $26,000. MJT & Associates Financial Advisory Group Inc. purchased a new position in JPMorgan Chase & Co. during the first quarter worth $28,000. University of Illinois Foundation bought a new position in JPMorgan Chase & Co. during the first quarter valued at $30,000. Ryan Investment Management Inc. purchased a new stake in shares of JPMorgan Chase & Co. in the second quarter valued at $37,000. Finally, Christopher J. Hasenberg Inc lifted its holdings in shares of JPMorgan Chase & Co. by 212.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 106 shares during the last quarter. 71.55% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Loop Capital set a $310.00 price objective on JPMorgan Chase & Co. in a report on Thursday, October 23rd. Morgan Stanley upped their target price on JPMorgan Chase & Co. from $336.00 to $338.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 15th. Phillip Securities downgraded JPMorgan Chase & Co. from a “moderate buy” rating to a “hold” rating in a report on Wednesday, July 16th. Cowen restated a “buy” rating on shares of JPMorgan Chase & Co. in a report on Wednesday, July 16th. Finally, Weiss Ratings downgraded shares of JPMorgan Chase & Co. from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Friday, November 7th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $326.38.

Insider Buying and Selling

In other news, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction on 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 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. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Robin Leopold sold 966 shares of the business’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $311.92, for a total transaction of $301,314.72. Following the transaction, the insider owned 58,479 shares in the company, valued at approximately $18,240,769.68. This trade represents a 1.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.47% of the stock is currently owned by insiders.

JPMorgan Chase & Co. Stock Down 0.5%

Shares of JPM opened at $318.66 on Thursday. The company’s 50-day simple moving average is $307.23 and its 200-day simple moving average is $288.84. 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. has a 1 year low of $202.16 and a 1 year high of $322.25. The stock has a market capitalization of $867.47 billion, a PE ratio of 15.77, a P/E/G ratio of 1.84 and a beta of 1.14.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $5.07 EPS for the quarter, beating the consensus estimate 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 company had revenue of $46.43 billion during the quarter, compared to analysts’ expectations of $44.42 billion. During the same quarter last year, the company posted $4.37 EPS. The firm’s revenue was up 8.8% compared to the same quarter last year. Analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Monday, October 6th were given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 1.9%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend was Monday, October 6th. JPMorgan Chase & Co.’s dividend 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.