JPMorgan Chase & Co. (JPM) Holdings Reduced by Garland Capital Management Inc.

Garland Capital Management Inc. lessened its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 3.1% during the third quarter, Holdings Channel reports. The institutional investor owned 62,255 shares of the financial services provider’s stock after selling 2,000 shares during the period. JPMorgan Chase & Co. accounts for about 3.8% of Garland Capital Management Inc.’s portfolio, making the stock its 4th largest position. Garland Capital Management Inc.’s holdings in JPMorgan Chase & Co. were worth $5,946,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in JPM. Lee Financial Co grew its holdings in JPMorgan Chase & Co. by 7.4% during the 2nd quarter. Lee Financial Co now owns 14,364 shares of the financial services provider’s stock valued at $1,313,000 after buying an additional 986 shares during the last quarter. Lyell Wealth Management LP grew its holdings in JPMorgan Chase & Co. by 13.8% during the 2nd quarter. Lyell Wealth Management LP now owns 55,187 shares of the financial services provider’s stock valued at $5,044,000 after buying an additional 6,695 shares during the last quarter. David R. Rahn & Associates Inc. acquired a new stake in shares of JPMorgan Chase & Co. during the second quarter worth $1,458,000. Lee Danner & Bass Inc. boosted its holdings in shares of JPMorgan Chase & Co. by 0.4% during the second quarter. Lee Danner & Bass Inc. now owns 17,494 shares of the financial services provider’s stock worth $1,599,000 after purchasing an additional 69 shares during the last quarter. Finally, Bessemer Group Inc. boosted its holdings in shares of JPMorgan Chase & Co. by 0.9% during the second quarter. Bessemer Group Inc. now owns 2,737,260 shares of the financial services provider’s stock worth $250,185,000 after purchasing an additional 25,285 shares during the last quarter. Hedge funds and other institutional investors own 73.02% of the company’s stock.

JPMorgan Chase & Co. (JPM) opened at $114.68 on Tuesday. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.01 and a quick ratio of 1.03. The firm has a market capitalization of $397,910.00, a price-to-earnings ratio of 17.97, a P/E/G ratio of 1.96 and a beta of 1.22. JPMorgan Chase & Co. has a 52-week low of $81.64 and a 52-week high of $117.35.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Friday, January 12th. The financial services provider reported $1.76 earnings per share for the quarter, topping the consensus estimate of $1.69 by $0.07. The business had revenue of $24.15 billion for the quarter, compared to analyst estimates of $24.87 billion. JPMorgan Chase & Co. had a return on equity of 11.63% and a net margin of 21.46%. The business’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period last year, the company posted $1.71 EPS. analysts predict that JPMorgan Chase & Co. will post 8.78 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 31st. Investors of record on Friday, January 5th were given a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 1.95%. The ex-dividend date of this dividend was Thursday, January 4th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 35.11%.

In related news, Director James S. Crown acquired 7,280 shares of the business’s stock in a transaction on Thursday, January 18th. The shares were bought at an average cost of $113.37 per share, with a total value of $825,333.60. Following the completion of the transaction, the director now directly owns 305,875 shares of the company’s stock, valued at approximately $34,677,048.75. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Peter Scher sold 17,057 shares of the firm’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $112.20, for a total value of $1,913,795.40. Following the completion of the transaction, the executive vice president now directly owns 15,310 shares in the company, valued at $1,717,782. The disclosure for this sale can be found here. Insiders sold a total of 152,047 shares of company stock worth $17,098,115 over the last ninety days. Corporate insiders own 0.88% of the company’s stock.

JPM has been the topic of several analyst reports. Vining Sparks restated a “buy” rating and set a $120.00 price objective on shares of JPMorgan Chase & Co. in a report on Friday, January 12th. Argus raised their price objective on JPMorgan Chase & Co. from $109.00 to $125.00 and gave the stock a “buy” rating in a report on Friday, January 12th. Credit Suisse Group upgraded JPMorgan Chase & Co. to a “buy” rating and set a $120.00 price objective on the stock in a report on Friday, January 5th. Buckingham Research upgraded JPMorgan Chase & Co. from a “neutral” rating to a “buy” rating in a report on Thursday, December 21st. Finally, Wells Fargo & Co set a $120.00 price objective on JPMorgan Chase & Co. and gave the stock a “buy” rating in a report on Wednesday, December 20th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and sixteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $108.71.

TRADEMARK VIOLATION NOTICE: This report was published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this report on another publication, it was stolen and reposted in violation of U.S. and international trademark and copyright legislation. The legal version of this report can be read at https://ledgergazette.com/2018/02/20/jpmorgan-chase-co-jpm-holdings-reduced-by-garland-capital-management-inc.html.

JPMorgan Chase & Co. Profile

JPMorgan Chase & Co is a financial holding company. The Company is engaged in investment banking, financial services. It operates in four segments, as well as a Corporate segment. Its segments are Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking and Asset Management. The Consumer & Community Banking segment offers services to consumers and businesses through bank branches, automatic teller machines (ATMs), online, mobile and telephone banking.

Want to see what other hedge funds are holding JPM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for JPMorgan Chase & Co. (NYSE:JPM).

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

Receive News & Ratings for JPMorgan Chase & Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for JPMorgan Chase & Co. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply