Boltwood Capital Management Has $2.47 Million Position in JPMorgan Chase & Co. (NYSE:JPM)

Boltwood Capital Management trimmed its position in JPMorgan Chase & Co. (NYSE:JPM) by 3.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,685 shares of the financial services provider’s stock after selling 765 shares during the period. JPMorgan Chase & Co. makes up approximately 1.6% of Boltwood Capital Management’s portfolio, making the stock its 14th biggest position. Boltwood Capital Management’s holdings in JPMorgan Chase & Co. were worth $2,467,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of JPM. First American Trust FSB lifted its stake in JPMorgan Chase & Co. by 1.9% in the second quarter. First American Trust FSB now owns 93,769 shares of the financial services provider’s stock valued at $9,771,000 after purchasing an additional 1,713 shares during the last quarter. Clinton Group Inc. bought a new stake in JPMorgan Chase & Co. during the 2nd quarter valued at $938,000. Abner Herrman & Brock LLC raised its holdings in JPMorgan Chase & Co. by 1.7% during the 2nd quarter. Abner Herrman & Brock LLC now owns 222,043 shares of the financial services provider’s stock valued at $23,137,000 after acquiring an additional 3,622 shares during the period. DnB Asset Management AS raised its holdings in JPMorgan Chase & Co. by 3.5% during the 2nd quarter. DnB Asset Management AS now owns 496,003 shares of the financial services provider’s stock valued at $51,684,000 after acquiring an additional 16,600 shares during the period. Finally, Gulf International Bank UK Ltd raised its holdings in JPMorgan Chase & Co. by 1.0% during the 2nd quarter. Gulf International Bank UK Ltd now owns 1,104,201 shares of the financial services provider’s stock valued at $115,057,000 after acquiring an additional 11,226 shares during the period. 70.56% of the stock is owned by institutional investors and hedge funds.

In related news, CEO Gordon Smith sold 30,725 shares of the stock in a transaction dated Monday, July 23rd. The shares were sold at an average price of $114.01, for a total value of $3,502,957.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.73% of the stock is owned by corporate insiders.

Several research firms have recently weighed in on JPM. DZ Bank raised shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating in a report on Thursday, July 19th. Citigroup upped their price target on shares of JPMorgan Chase & Co. from $115.00 to $125.00 and gave the stock a “neutral” rating in a report on Wednesday, September 26th. Keefe, Bruyette & Woods reaffirmed a “$111.53” rating and issued a $127.00 price target on shares of JPMorgan Chase & Co. in a report on Wednesday, July 18th. UBS Group raised shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating in a report on Thursday, July 19th. Finally, Credit Suisse Group set a $130.00 price target on shares of JPMorgan Chase & Co. and gave the stock a “buy” rating in a report on Thursday, July 12th. Eleven equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $122.13.

Shares of JPMorgan Chase & Co. stock traded down $0.65 during trading on Friday, reaching $114.62. 13,775,104 shares of the stock were exchanged, compared to its average volume of 14,194,561. JPMorgan Chase & Co. has a 1 year low of $94.96 and a 1 year high of $119.33. The firm has a market cap of $387.26 billion, a P/E ratio of 16.68, a P/E/G ratio of 1.85 and a beta of 1.17. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.18.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Friday, July 13th. The financial services provider reported $2.29 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.22 by $0.07. JPMorgan Chase & Co. had a net margin of 22.80% and a return on equity of 13.18%. The company had revenue of $27.75 billion during the quarter, compared to the consensus estimate of $27.62 billion. Research analysts forecast that JPMorgan Chase & Co. will post 9.17 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 31st. Investors of record on Friday, October 5th will be paid a $0.80 dividend. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $0.56. This represents a $3.20 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date of this dividend is Thursday, October 4th. JPMorgan Chase & Co.’s dividend payout ratio is presently 32.61%.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking, and Asset & Wealth Management. The Consumer & Community Banking segment offers deposit and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; residential mortgages and home equity loans; and credit cards, payment processing services, auto loans and leases.

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

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