Cim Investment Management Inc. Cuts Position in JPMorgan Chase & Co. (NYSE:JPM)

Cim Investment Management Inc. cut its stake in JPMorgan Chase & Co. (NYSE:JPM) by 0.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,651 shares of the financial services provider’s stock after selling 73 shares during the period. JPMorgan Chase & Co. comprises approximately 0.7% of Cim Investment Management Inc.’s portfolio, making the stock its 18th largest position. Cim Investment Management Inc.’s holdings in JPMorgan Chase & Co. were worth $2,123,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Cable Hill Partners LLC boosted its position in JPMorgan Chase & Co. by 175.5% during the second quarter. Cable Hill Partners LLC now owns 6,293 shares of the financial services provider’s stock valued at $979,000 after buying an additional 4,009 shares during the period. Capital Directions Investment Advisors LLC boosted its position in JPMorgan Chase & Co. by 27.7% during the second quarter. Capital Directions Investment Advisors LLC now owns 392 shares of the financial services provider’s stock valued at $61,000 after buying an additional 85 shares during the period. GQG Partners LLC purchased a new stake in JPMorgan Chase & Co. during the second quarter valued at about $1,044,000. Colonial River Wealth Management LLC boosted its position in JPMorgan Chase & Co. by 5.7% during the second quarter. Colonial River Wealth Management LLC now owns 6,249 shares of the financial services provider’s stock valued at $972,000 after buying an additional 336 shares during the period. Finally, Cherry Creek Investment Advisors Inc. purchased a new stake in JPMorgan Chase & Co. during the second quarter valued at about $431,000. Institutional investors own 69.67% of the company’s stock.

Shares of NYSE:JPM traded up $1.85 during trading on Thursday, reaching $162.85. 552,749 shares of the stock traded hands, compared to its average volume of 13,593,163. The stock has a 50-day moving average of $160.59 and a two-hundred day moving average of $157.52. JPMorgan Chase & Co. has a 52-week low of $95.24 and a 52-week high of $171.51. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a market cap of $486.62 billion, a P/E ratio of 10.87, a price-to-earnings-growth ratio of 2.24 and a beta of 1.20.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Tuesday, October 12th. The financial services provider reported $3.74 EPS for the quarter, beating the Zacks’ consensus estimate of $3.00 by $0.74. JPMorgan Chase & Co. had a net margin of 37.71% and a return on equity of 19.26%. The firm had revenue of $29.60 billion for the quarter, compared to analysts’ expectations of $29.63 billion. During the same quarter in the prior year, the company posted $2.92 earnings per share. The business’s revenue for the quarter was down 1.0% on a year-over-year basis. Sell-side analysts expect that JPMorgan Chase & Co. will post 14.05 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Sunday, October 31st. Shareholders of record on Wednesday, October 6th will be given a $1.00 dividend. The ex-dividend date is Tuesday, October 5th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $0.90. This represents a $4.00 annualized dividend and a yield of 2.46%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 45.05%.

Several brokerages have recently commented on JPM. Zacks Investment Research raised shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and set a $175.00 price objective for the company in a research note on Tuesday, September 28th. Jefferies Financial Group increased their price target on shares of JPMorgan Chase & Co. from $177.00 to $198.00 and gave the stock a “buy” rating in a research note on Monday. Royal Bank of Canada increased their price target on shares of JPMorgan Chase & Co. from $160.00 to $175.00 and gave the stock an “outperform” rating in a research note on Thursday. BMO Capital Markets increased their price target on shares of JPMorgan Chase & Co. from $139.00 to $140.00 and gave the stock a “market perform” rating in a research note on Thursday. Finally, Credit Suisse Group set a $177.00 price target on shares of JPMorgan Chase & Co. in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $170.18.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co is a financial holding company. It provides financial and investment banking services. The firm offers a range of investment banking products and services in all capital markets, including advising on corporate strategy and structure, capital raising in equity and debt markets, risk management, market making in cash securities and derivative instruments, and brokerage and research.

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

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