Schmidt P J Investment Management Inc. Sells 555 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Schmidt P J Investment Management Inc. lessened its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.4% in the second quarter, HoldingsChannel.com reports. The fund owned 39,480 shares of the financial services provider’s stock after selling 555 shares during the period. Schmidt P J Investment Management Inc.’s holdings in JPMorgan Chase & Co. were worth $3,713,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Tompkins Financial Corp lifted its holdings in shares of JPMorgan Chase & Co. by 3.5% during the 2nd quarter. Tompkins Financial Corp now owns 61,749 shares of the financial services provider’s stock worth $5,808,000 after acquiring an additional 2,080 shares during the period. Perigon Wealth Management LLC lifted its holdings in shares of JPMorgan Chase & Co. by 4.1% during the 2nd quarter. Perigon Wealth Management LLC now owns 51,410 shares of the financial services provider’s stock worth $4,836,000 after acquiring an additional 2,026 shares during the period. Regent Investment Management LLC lifted its holdings in shares of JPMorgan Chase & Co. by 3.9% during the 2nd quarter. Regent Investment Management LLC now owns 98,547 shares of the financial services provider’s stock worth $9,269,000 after acquiring an additional 3,706 shares during the period. Koshinski Asset Management Inc. lifted its holdings in shares of JPMorgan Chase & Co. by 2.4% during the 2nd quarter. Koshinski Asset Management Inc. now owns 45,055 shares of the financial services provider’s stock worth $4,238,000 after acquiring an additional 1,060 shares during the period. Finally, Carl P. Sherr & Co. LLC lifted its holdings in shares of JPMorgan Chase & Co. by 11.4% during the 2nd quarter. Carl P. Sherr & Co. LLC now owns 5,437 shares of the financial services provider’s stock worth $511,000 after acquiring an additional 558 shares during the period. 71.35% of the stock is owned by institutional investors.

In other JPMorgan Chase & Co. news, CEO Mary E. Erdoes sold 24,554 shares of the firm’s stock in a transaction on Wednesday, July 15th. The shares were sold at an average price of $99.52, for a total value of $2,443,614.08. 0.78% of the stock is currently owned by company insiders.

Several brokerages recently commented on JPM. UBS Group increased their price objective on shares of JPMorgan Chase & Co. from $82.00 to $96.00 and gave the company a “neutral” rating in a research note on Monday, May 4th. Berenberg Bank increased their price objective on shares of JPMorgan Chase & Co. from $77.00 to $80.00 and gave the company a “sell” rating in a research note on Monday, July 20th. Goldman Sachs Group raised shares of JPMorgan Chase & Co. from a “neutral” rating to a “buy” rating in a research note on Friday, July 24th. Credit Suisse Group set a $122.00 price objective on shares of JPMorgan Chase & Co. and gave the company a “buy” rating in a research note on Monday, May 18th. Finally, Royal Bank of Canada set a $99.00 price objective on shares of JPMorgan Chase & Co. and gave the company a “buy” rating in a research note on Tuesday, April 14th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and fifteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $110.89.

NYSE:JPM opened at $96.64 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.35. The stock has a market capitalization of $294.46 billion, a price-to-earnings ratio of 13.04, a PEG ratio of 3.24 and a beta of 1.19. The firm has a fifty day simple moving average of $96.77 and a two-hundred day simple moving average of $105.48. JPMorgan Chase & Co. has a 12 month low of $76.91 and a 12 month high of $141.10.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.04. JPMorgan Chase & Co. had a net margin of 18.16% and a return on equity of 10.75%. The firm had revenue of $32.98 billion for the quarter, compared to analyst estimates of $30.23 billion. During the same period last year, the firm earned $2.82 earnings per share. The business’s quarterly revenue was up 14.7% compared to the same quarter last year. Equities analysts predict that JPMorgan Chase & Co. will post 5.96 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Monday, July 6th were paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.73%. The ex-dividend date of this dividend was Thursday, July 2nd. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 34.35%.

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

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