JPMorgan Chase & Co. (NYSE:JPM) Stake Cut by Summerhill Capital Management lnc.

Summerhill Capital Management lnc. cut its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 2.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 38,935 shares of the financial services provider’s stock after selling 1,102 shares during the period. JPMorgan Chase & Co. accounts for approximately 5.6% of Summerhill Capital Management lnc.’s investment portfolio, making the stock its 8th biggest holding. Summerhill Capital Management lnc.’s holdings in JPMorgan Chase & Co. were worth $7,875,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. One Capital Management LLC increased its holdings in shares of JPMorgan Chase & Co. by 1.5% during the second quarter. One Capital Management LLC now owns 67,773 shares of the financial services provider’s stock valued at $13,708,000 after acquiring an additional 969 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in JPMorgan Chase & Co. by 4.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 22,696,963 shares of the financial services provider’s stock valued at $4,590,412,000 after purchasing an additional 1,040,594 shares in the last quarter. Black Diamond Financial LLC raised its holdings in shares of JPMorgan Chase & Co. by 9.6% in the second quarter. Black Diamond Financial LLC now owns 6,221 shares of the financial services provider’s stock worth $1,258,000 after buying an additional 543 shares during the last quarter. Capital Wealth Planning LLC lifted its stake in shares of JPMorgan Chase & Co. by 26.7% during the second quarter. Capital Wealth Planning LLC now owns 2,458,125 shares of the financial services provider’s stock worth $497,180,000 after buying an additional 518,100 shares during the period. Finally, Bcwm LLC grew its holdings in shares of JPMorgan Chase & Co. by 3.2% during the second quarter. Bcwm LLC now owns 45,861 shares of the financial services provider’s stock valued at $9,276,000 after buying an additional 1,438 shares during the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on JPM. StockNews.com raised JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research report on Saturday, July 13th. Morgan Stanley dropped their target price on JPMorgan Chase & Co. from $226.00 to $220.00 and set an “overweight” rating on the stock in a research report on Thursday, September 12th. Keefe, Bruyette & Woods increased their price target on shares of JPMorgan Chase & Co. from $209.00 to $211.00 and gave the stock a “market perform” rating in a report on Tuesday, July 9th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $235.00 price objective on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. Finally, Barclays increased their price objective 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. Eight research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $211.06.

JPMorgan Chase & Co. Stock Performance

NYSE JPM opened at $210.98 on Friday. The stock has a market capitalization of $605.86 billion, a price-to-earnings ratio of 11.77, a PEG ratio of 2.33 and a beta of 1.12. JPMorgan Chase & Co. has a twelve month low of $135.19 and a twelve month high of $225.48. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.24. The stock has a 50-day moving average of $211.61 and a 200 day moving average of $201.64.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Friday, July 12th. The financial services provider reported $6.12 earnings per share for the quarter, topping the consensus estimate of $4.19 by $1.93. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. The business had revenue of $50.80 billion during the quarter, compared to the consensus estimate of $42.23 billion. During the same period in the prior year, the company posted $4.37 EPS. Sell-side analysts anticipate that JPMorgan Chase & Co. will post 16.78 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 4th will be issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.37%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend is Friday, October 4th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 25.66%.

About JPMorgan Chase & Co.

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.