Ironwood Investment Management LLC Sells 5,800 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Ironwood Investment Management LLC cut its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 59.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,954 shares of the financial services provider’s stock after selling 5,800 shares during the quarter. Ironwood Investment Management LLC’s holdings in JPMorgan Chase & Co. were worth $800,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Gilbert & Cook Inc. grew its position in JPMorgan Chase & Co. by 1.5% in the 4th quarter. Gilbert & Cook Inc. now owns 11,360 shares of the financial services provider’s stock worth $1,932,000 after purchasing an additional 164 shares in the last quarter. Aveo Capital Partners LLC increased its holdings in shares of JPMorgan Chase & Co. by 13.0% in the fourth quarter. Aveo Capital Partners LLC now owns 5,151 shares of the financial services provider’s stock worth $876,000 after purchasing an additional 591 shares during the period. Prudent Man Advisors LLC grew its stake in JPMorgan Chase & Co. by 3.4% in the 4th quarter. Prudent Man Advisors LLC now owns 20,752 shares of the financial services provider’s stock worth $3,530,000 after buying an additional 677 shares in the last quarter. Poehling Capital Management INC. raised its holdings in shares of JPMorgan Chase & Co. by 1.4% during the 4th quarter. Poehling Capital Management INC. now owns 20,991 shares of the financial services provider’s stock valued at $3,571,000 after buying an additional 295 shares in the last quarter. Finally, Jones Financial Companies Lllp raised its position in JPMorgan Chase & Co. by 4.0% in the 4th quarter. Jones Financial Companies Lllp now owns 134,463 shares of the financial services provider’s stock worth $22,872,000 after purchasing an additional 5,182 shares during the period. 71.55% of the stock is owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Stock Up 0.3 %

Shares of JPM stock opened at $210.50 on Monday. The company’s fifty day simple moving average is $211.47 and its two-hundred day simple moving average is $202.57. JPMorgan Chase & Co. has a 52 week low of $135.19 and a 52 week high of $225.48. The stock has a market cap of $604.49 billion, a P/E ratio of 11.74, a PEG ratio of 2.39 and a beta of 1.12. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.24.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Friday, July 12th. The financial services provider reported $6.12 EPS for the quarter, beating the consensus estimate of $4.19 by $1.93. The company had revenue of $50.80 billion for the quarter, compared to the consensus estimate of $42.23 billion. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. During the same period in the prior year, the firm posted $4.37 EPS. Analysts predict that JPMorgan Chase & Co. will post 16.72 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 4th will be given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.38%. The ex-dividend date is Friday, October 4th. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 27.89%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on JPM shares. Barclays lifted their target price on shares of JPMorgan Chase & Co. from $212.00 to $217.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $235.00 target price on shares of JPMorgan Chase & Co. in a report on Tuesday, September 3rd. Jefferies Financial Group upped their price target on JPMorgan Chase & Co. from $230.00 to $239.00 and gave the stock a “buy” rating in a research note on Wednesday, July 3rd. BMO Capital Markets raised their price target on JPMorgan Chase & Co. from $195.00 to $205.00 and gave the company a “market perform” rating in a report on Thursday, July 11th. Finally, Citigroup boosted their price target on JPMorgan Chase & Co. from $205.00 to $215.00 and gave the stock a “neutral” rating in a research note on Monday, July 15th. Eight investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, JPMorgan Chase & Co. has a consensus rating of “Moderate Buy” and an average price target of $211.06.

JPMorgan Chase & Co. Company Profile

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, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.