Abbot Financial Management Inc. Lowers Stake in JPMorgan Chase & Co. (JPM)

Abbot Financial Management Inc. cut its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 2.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 43,987 shares of the financial services provider’s stock after selling 1,134 shares during the quarter. JPMorgan Chase & Co. makes up 3.7% of Abbot Financial Management Inc.’s portfolio, making the stock its largest holding. Abbot Financial Management Inc.’s holdings in JPMorgan Chase & Co. were worth $4,439,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of JPM. Janus Henderson Group PLC grew its holdings in JPMorgan Chase & Co. by 517.3% in the 2nd quarter. Janus Henderson Group PLC now owns 5,553,819 shares of the financial services provider’s stock worth $507,632,000 after buying an additional 4,654,113 shares in the last quarter. Alliancebernstein L.P. lifted its position in JPMorgan Chase & Co. by 29.2% in the second quarter. Alliancebernstein L.P. now owns 17,456,699 shares of the financial services provider’s stock worth $1,595,542,000 after purchasing an additional 3,945,948 shares during the period. Vanguard Group Inc. lifted its position in JPMorgan Chase & Co. by 1.5% in the second quarter. Vanguard Group Inc. now owns 249,887,622 shares of the financial services provider’s stock worth $22,839,729,000 after purchasing an additional 3,717,683 shares during the period. Parametric Portfolio Associates LLC lifted its position in JPMorgan Chase & Co. by 40.8% in the second quarter. Parametric Portfolio Associates LLC now owns 9,769,017 shares of the financial services provider’s stock worth $892,886,000 after purchasing an additional 2,828,726 shares during the period. Finally, Harbour Capital Advisors LLC lifted its position in JPMorgan Chase & Co. by 8,767.4% in the second quarter. Harbour Capital Advisors LLC now owns 2,794,464 shares of the financial services provider’s stock worth $30,574,000 after purchasing an additional 2,762,950 shares during the period. 73.75% of the stock is owned by institutional investors and hedge funds.

A number of equities research analysts have weighed in on JPM shares. Vetr upgraded JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and set a $93.14 target price for the company in a research report on Wednesday, September 6th. Jefferies Group restated a “buy” rating and issued a $102.00 target price on shares of JPMorgan Chase & Co. in a research report on Friday, September 15th. Robert W. Baird restated a “hold” rating and issued a $88.00 target price on shares of JPMorgan Chase & Co. in a research report on Thursday, September 21st. Deutsche Bank downgraded JPMorgan Chase & Co. from a “buy” rating to a “hold” rating and upped their target price for the stock from $90.00 to $96.00 in a research report on Tuesday, September 26th. Finally, Citigroup upped their target price on JPMorgan Chase & Co. from $90.00 to $96.00 and gave the stock a “neutral” rating in a research report on Friday, October 6th. Three investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and seventeen have issued a buy rating to the company’s stock. JPMorgan Chase & Co. presently has a consensus rating of “Hold” and a consensus price target of $92.35.

In other news, General Counsel Stacey Friedman sold 2,099 shares of the stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $101.96, for a total value of $214,014.04. Following the completion of the sale, the general counsel now owns 15,279 shares in the company, valued at $1,557,846.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.88% of the stock is owned by corporate insiders.

Shares of JPMorgan Chase & Co. (NYSE JPM) opened at $106.94 on Monday. The stock has a market capitalization of $371,052.50, a price-to-earnings ratio of 15.41, a PEG ratio of 2.32 and a beta of 1.22. JPMorgan Chase & Co. has a 1-year low of $81.64 and a 1-year high of $108.46. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.37.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Thursday, October 12th. The financial services provider reported $1.76 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.67 by $0.09. The company had revenue of $25.33 billion during the quarter, compared to analyst estimates of $24.91 billion. JPMorgan Chase & Co. had a return on equity of 11.68% and a net margin of 24.08%. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.58 earnings per share. sell-side analysts expect that JPMorgan Chase & Co. will post 6.92 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Friday, January 5th will be issued a $0.56 dividend. The ex-dividend date of this dividend is Thursday, January 4th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.09%. JPMorgan Chase & Co.’s payout ratio is currently 32.28%.

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JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co is a financial holding company. The Company is engaged in investment banking, financial services. It operates in four segments, as well as a Corporate segment. Its segments are Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking and Asset Management. The Consumer & Community Banking segment offers services to consumers and businesses through bank branches, automatic teller machines (ATMs), online, mobile and telephone banking.

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

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