Spirit of America Management Corp NY Trims Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Spirit of America Management Corp NY decreased its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 1.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,042 shares of the financial services provider’s stock after selling 200 shares during the quarter. Spirit of America Management Corp NY’s holdings in JPMorgan Chase & Co. were worth $1,794,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. MinichMacGregor Wealth Management LLC raised its position in JPMorgan Chase & Co. by 2,115.6% during the 4th quarter. MinichMacGregor Wealth Management LLC now owns 35,471 shares of the financial services provider’s stock worth $3,388,000 after buying an additional 33,870 shares during the last quarter. Meridian Financial Partners LLC purchased a new position in JPMorgan Chase & Co. during the 4th quarter worth $237,000. CMH Wealth Management LLC raised its position in JPMorgan Chase & Co. by 1,066.8% during the 4th quarter. CMH Wealth Management LLC now owns 25,063 shares of the financial services provider’s stock worth $2,447,000 after buying an additional 22,915 shares during the last quarter. Sanders Morris Harris LLC raised its position in JPMorgan Chase & Co. by 746.9% during the 2nd quarter. Sanders Morris Harris LLC now owns 105,264 shares of the financial services provider’s stock worth $11,908,000 after buying an additional 92,834 shares during the last quarter. Finally, Davis Rea LTD. raised its position in JPMorgan Chase & Co. by 3.1% during the 2nd quarter. Davis Rea LTD. now owns 64,434 shares of the financial services provider’s stock worth $7,204,000 after buying an additional 1,930 shares during the last quarter. Hedge funds and other institutional investors own 71.57% of the company’s stock.

In other JPMorgan Chase & Co. news, EVP Peter Scher sold 10,816 shares of the firm’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $115.00, for a total transaction of $1,243,840.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Lori A. Beer sold 13,341 shares of the firm’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $114.28, for a total transaction of $1,524,609.48. Following the sale, the insider now directly owns 10,130 shares in the company, valued at $1,157,656.40. The disclosure for this sale can be found here. 0.76% of the stock is currently owned by corporate insiders.

A number of research firms have recently weighed in on JPM. Goldman Sachs Group reaffirmed a “neutral” rating and set a $117.00 price target on shares of JPMorgan Chase & Co. in a research note on Monday, July 22nd. BMO Capital Markets upped their price target on shares of JPMorgan Chase & Co. from $116.00 to $118.00 and gave the stock a “market perform” rating in a research note on Monday, April 15th. Morgan Stanley upped their price target on shares of JPMorgan Chase & Co. from $124.00 to $130.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Credit Suisse Group upped their price target on shares of JPMorgan Chase & Co. from $128.00 to $132.00 and gave the stock an “outperform” rating in a research note on Monday, April 15th. Finally, Zacks Investment Research cut shares of JPMorgan Chase & Co. from a “buy” rating to a “hold” rating in a research note on Tuesday, May 14th. Eleven analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $122.94.

NYSE JPM traded up $0.07 during trading hours on Thursday, reaching $116.07. The company’s stock had a trading volume of 779,219 shares, compared to its average volume of 9,926,310. The company has a market cap of $375.81 billion, a PE ratio of 12.88, a PEG ratio of 1.67 and a beta of 1.15. JPMorgan Chase & Co. has a fifty-two week low of $91.11 and a fifty-two week high of $119.24. The business’s 50-day moving average price is $112.79. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.00 and a current ratio of 0.97.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $2.82 EPS for the quarter, beating the Zacks’ consensus estimate of $2.50 by $0.32. The firm had revenue of $28.83 billion for the quarter, compared to analysts’ expectations of $28.52 billion. JPMorgan Chase & Co. had a net margin of 24.73% and a return on equity of 14.41%. The firm’s revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the company earned $2.29 EPS. As a group, equities research analysts forecast that JPMorgan Chase & Co. will post 9.92 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Friday, July 5th were paid a $0.80 dividend. The ex-dividend date was Wednesday, July 3rd. This represents a $3.20 dividend on an annualized basis and a yield of 2.76%. JPMorgan Chase & Co.’s payout ratio is 35.56%.

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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