Stony Point Wealth Management Inc. Reduces Position in JPMorgan Chase & Co. (NYSE:JPM)

Stony Point Wealth Management Inc. decreased its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 13.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 26,120 shares of the financial services provider’s stock after selling 4,066 shares during the quarter. JPMorgan Chase & Co. accounts for approximately 2.7% of Stony Point Wealth Management Inc.’s investment portfolio, making the stock its 9th biggest holding. Stony Point Wealth Management Inc.’s holdings in JPMorgan Chase & Co. were worth $2,978,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in JPM. Rhumbline Advisers increased its stake in JPMorgan Chase & Co. by 0.5% in the 4th quarter. Rhumbline Advisers now owns 5,870,204 shares of the financial services provider’s stock valued at $573,049,000 after buying an additional 31,681 shares during the last quarter. Fisher Asset Management LLC increased its stake in JPMorgan Chase & Co. by 4.0% in the 4th quarter. Fisher Asset Management LLC now owns 5,426,978 shares of the financial services provider’s stock valued at $529,782,000 after buying an additional 208,780 shares during the last quarter. Thoroughbred Financial Services LLC increased its stake in JPMorgan Chase & Co. by 11,601.0% in 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 buying an additional 4,931,461 shares during the last quarter. Sanders Capital LLC increased its stake in JPMorgan Chase & Co. by 2.8% in the 2nd quarter. Sanders Capital LLC now owns 4,393,517 shares of the financial services provider’s stock valued at $548,947,000 after buying an additional 119,356 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D increased its stake in JPMorgan Chase & Co. by 2.4% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 4,263,000 shares of the financial services provider’s stock valued at $416,154,000 after buying an additional 100,000 shares during the last quarter. 71.52% of the stock is currently owned by institutional investors and hedge funds.

In related news, insider Lori A. Beer sold 13,341 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $114.28, for a total value of $1,524,609.48. Following the completion of the transaction, the insider now directly owns 10,130 shares in the company, valued at approximately $1,157,656.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Peter Scher sold 10,816 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $115.00, for a total transaction of $1,243,840.00. The disclosure for this sale can be found here. Company insiders own 0.76% of the company’s stock.

JPM has been the subject of several analyst reports. Goldman Sachs Group reiterated a “neutral” rating and issued a $117.00 price objective on shares of JPMorgan Chase & Co. in a research note on Monday, July 22nd. Deutsche Bank reiterated a “neutral” rating on shares of JPMorgan Chase & Co. in a research note on Friday, June 28th. Royal Bank of Canada reiterated a “buy” rating and issued a $120.00 price objective on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 16th. BMO Capital Markets raised 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. Finally, Morgan Stanley raised 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. Eleven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. JPMorgan Chase & Co. presently has an average rating of “Hold” and a consensus price target of $122.94.

Shares of JPM stock traded down $3.58 during trading hours on Wednesday, hitting $106.85. 5,223,596 shares of the company were exchanged, compared to its average volume of 11,051,188. The company’s fifty day moving average price is $113.07. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.97 and a quick ratio of 1.00. JPMorgan Chase & Co. has a 52-week low of $91.11 and a 52-week high of $119.24. The firm has a market cap of $358.23 billion, a PE ratio of 11.87, a price-to-earnings-growth ratio of 1.63 and a beta of 1.16.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $2.82 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.50 by $0.32. JPMorgan Chase & Co. had a net margin of 24.73% and a return on equity of 14.41%. The company had revenue of $28.83 billion during the quarter, compared to analyst estimates of $28.52 billion. During the same quarter last year, the business posted $2.29 EPS. JPMorgan Chase & Co.’s quarterly revenue was up 3.9% compared to the same quarter last year. Research analysts forecast that JPMorgan Chase & Co. will post 9.92 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Friday, July 5th were paid a dividend of $0.80 per share. The ex-dividend date was Wednesday, July 3rd. This represents a $3.20 annualized dividend and a dividend yield of 2.99%. JPMorgan Chase & Co.’s payout ratio is currently 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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