Flippin Bruce & Porter Inc. Cuts Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Flippin Bruce & Porter Inc. lowered its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 2.8% during the 3rd quarter, Holdings Channel reports. The fund owned 177,785 shares of the financial services provider’s stock after selling 5,129 shares during the period. JPMorgan Chase & Co. makes up approximately 3.7% of Flippin Bruce & Porter Inc.’s portfolio, making the stock its largest holding. Flippin Bruce & Porter Inc.’s holdings in JPMorgan Chase & Co. were worth $20,923,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in JPM. Nuveen Asset Management LLC raised its stake in 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 valued at $2,648,497,000 after acquiring an additional 22,754,332 shares in the last quarter. Invesco Ltd. raised its stake in 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 valued at $2,648,509,000 after acquiring an additional 6,745,215 shares in the last quarter. Thoroughbred Financial Services LLC raised its stake in 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 valued at $497,397,000 after acquiring an additional 4,931,461 shares in the last quarter. Renaissance Technologies LLC bought a new stake in JPMorgan Chase & Co. during the 2nd quarter valued at $331,575,000. Finally, Amundi Pioneer Asset Management Inc. raised its stake in shares of JPMorgan Chase & Co. by 43.3% in 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 in the last quarter. 71.90% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE JPM traded up $0.38 during mid-day trading on Friday, reaching $130.38. The company had a trading volume of 9,160,446 shares, compared to its average volume of 12,174,789. The company has a current ratio of 0.93, a quick ratio of 0.97 and a debt-to-equity ratio of 1.26. The stock has a market cap of $404.92 billion, a PE ratio of 14.49, a P/E/G ratio of 1.81 and a beta of 1.21. The company has a 50-day moving average price of $120.77 and a two-hundred day moving average price of $114.02. JPMorgan Chase & Co. has a 1-year low of $91.11 and a 1-year high of $131.29.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Tuesday, October 15th. The financial services provider reported $2.68 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.45 by $0.23. The business had revenue of $29.34 billion for the quarter, compared to analysts’ expectations of $28.36 billion. JPMorgan Chase & Co. had a return on equity of 14.63% and a net margin of 24.70%. The company’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the firm posted $2.34 EPS. On average, research analysts expect that JPMorgan Chase & Co. will post 10.17 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 4th were issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.76%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend was Thursday, October 3rd. JPMorgan Chase & Co.’s payout ratio is presently 40.00%.

A number of analysts have recently commented on the company. Goldman Sachs Group reissued a “neutral” rating and issued a $117.00 price objective on shares of JPMorgan Chase & Co. in a research note on Monday, July 22nd. UBS Group boosted their price objective on JPMorgan Chase & Co. from $131.00 to $132.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Buckingham Research downgraded JPMorgan Chase & Co. from a “buy” rating to a “neutral” rating and set a $122.00 price objective on the stock. in a research note on Monday, September 16th. They noted that the move was a valuation call. Robert W. Baird boosted their price objective on JPMorgan Chase & Co. from $105.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. Finally, BMO Capital Markets boosted their price objective on JPMorgan Chase & Co. to $126.00 in a research note on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $123.02.

In related news, insider Nicole Giles sold 863 shares of JPMorgan Chase & Co. stock in a transaction on Monday, October 28th. The stock was sold at an average price of $126.73, for a total value of $109,367.99. Following the transaction, the insider now directly owns 8,949 shares in the company, valued at approximately $1,134,106.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Gordon Smith sold 83,289 shares of JPMorgan Chase & Co. stock in a transaction 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 completion of the transaction, the chief executive officer now owns 393,197 shares in the company, valued at $47,175,776.06. The disclosure for this sale can be found here. Insiders sold a total of 152,944 shares of company stock worth $19,088,970 over the last 90 days. Insiders own 0.76% of the company’s stock.

JPMorgan Chase & Co. Company Profile

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.

Further Reading: Different Types of Derivatives

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

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