Russell Investments Group Ltd. Sells 140,331 Shares of JPMorgan Chase & Co. $JPM

by · The Cerbat Gem

Russell Investments Group Ltd. lessened its position in JPMorgan Chase & Co. (NYSE:JPM) by 7.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,685,265 shares of the financial services provider’s stock after selling 140,331 shares during the quarter. JPMorgan Chase & Co. accounts for approximately 0.6% of Russell Investments Group Ltd.’s portfolio, making the stock its 15th largest holding. Russell Investments Group Ltd.’s holdings in JPMorgan Chase & Co. were worth $488,173,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Harbor Asset Planning Inc. bought a new position in shares of JPMorgan Chase & Co. during the 2nd quarter valued at about $26,000. University of Illinois Foundation bought a new position in JPMorgan Chase & Co. during the first quarter valued at approximately $30,000. Mizuho Securities Co. Ltd. raised its stake in shares of JPMorgan Chase & Co. by 450.0% during the second quarter. Mizuho Securities Co. Ltd. now owns 110 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 90 shares in the last quarter. Ryan Investment Management Inc. bought a new stake in shares of JPMorgan Chase & Co. in the 2nd quarter worth approximately $37,000. Finally, Christopher J. Hasenberg Inc lifted its holdings in shares of JPMorgan Chase & Co. by 212.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 106 shares during the last quarter. Institutional investors own 71.55% of the company’s stock.

Insider Buying and Selling

In other news, insider Robin Leopold sold 966 shares of the firm’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $311.92, for a total value of $301,314.72. Following the completion of the sale, the insider directly owned 58,479 shares of the company’s stock, valued at approximately $18,240,769.68. This trade represents a 1.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.47% of the company’s stock.

Analyst Upgrades and Downgrades

JPM has been the subject of several recent research reports. Morgan Stanley boosted their price target on shares of JPMorgan Chase & Co. from $336.00 to $338.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 15th. Royal Bank Of Canada reiterated a “buy” rating and issued a $343.00 price objective on shares of JPMorgan Chase & Co. in a report on Tuesday, October 14th. Evercore ISI increased their target price on JPMorgan Chase & Co. from $309.00 to $330.00 and gave the company an “outperform” rating in a report on Tuesday, September 30th. UBS Group lifted their price target on JPMorgan Chase & Co. from $339.00 to $350.00 and gave the stock a “buy” rating in a research note on Tuesday, October 7th. Finally, Wall Street Zen raised JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Fifteen investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $326.38.

Get Our Latest Research Report on JPMorgan Chase & Co.

JPMorgan Chase & Co. Trading Down 0.3%

JPM opened at $307.84 on Wednesday. JPMorgan Chase & Co. has a one year low of $202.16 and a one year high of $322.25. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.86 and a quick ratio of 0.88. The business has a 50 day simple moving average of $306.73 and a two-hundred day simple moving average of $294.02. The firm has a market capitalization of $838.02 billion, a price-to-earnings ratio of 15.25, a PEG ratio of 1.84 and a beta of 1.14.

JPMorgan Chase & Co. (NYSE:JPMGet Free Report) last posted its earnings results on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.83 by $0.24. The firm had revenue of $47.12 billion for the quarter, compared to analysts’ expectations of $44.42 billion. JPMorgan Chase & Co. had a return on equity of 17.18% and a net margin of 20.90%.The business’s revenue was up 8.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.37 earnings per share. Analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Monday, October 6th were issued a $1.50 dividend. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. The ex-dividend date was Monday, October 6th. This represents a $6.00 annualized dividend and a yield of 1.9%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 29.72%.

JPMorgan Chase & Co. Profile

(Free Report)

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.

See Also

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