Monetta Financial Services Inc. Sells 3,000 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Monetta Financial Services Inc. trimmed its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 10.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,000 shares of the financial services provider’s stock after selling 3,000 shares during the quarter. JPMorgan Chase & Co. makes up 4.4% of Monetta Financial Services Inc.’s holdings, making the stock its 8th biggest holding. Monetta Financial Services Inc.’s holdings in JPMorgan Chase & Co. were worth $5,056,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Retirement Group LLC boosted its stake in shares of JPMorgan Chase & Co. by 227.1% during the first quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 109 shares in the last quarter. Richardson Capital Management LLC acquired a new position in shares of JPMorgan Chase & Co. in the first quarter worth approximately $34,000. Anfield Capital Management LLC acquired a new position in shares of JPMorgan Chase & Co. in the second quarter worth approximately $34,000. Davidson Capital Management Inc. acquired a new position in shares of JPMorgan Chase & Co. in the first quarter worth approximately $37,000. Finally, Vermillion & White Wealth Management Group LLC acquired a new position in shares of JPMorgan Chase & Co. in the fourth quarter worth approximately $40,000. 71.55% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

JPM has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $235.00 target price on shares of JPMorgan Chase & Co. in a report on Tuesday, September 3rd. Keefe, Bruyette & Woods boosted their price objective on JPMorgan Chase & Co. from $209.00 to $211.00 and gave the company a “market perform” rating in a research note on Tuesday, July 9th. StockNews.com raised JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research note on Saturday, July 13th. Morgan Stanley dropped their price target on JPMorgan Chase & Co. from $226.00 to $220.00 and set an “overweight” rating on the stock in a research note on Thursday, September 12th. Finally, Oppenheimer raised their price objective on shares of JPMorgan Chase & Co. from $215.00 to $221.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. Eight analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, JPMorgan Chase & Co. has a consensus rating of “Moderate Buy” and a consensus price target of $211.06.

JPMorgan Chase & Co. Stock Up 0.3 %

JPM stock opened at $211.09 on Friday. The firm has a market capitalization of $606.18 billion, a PE ratio of 11.77, a P/E/G ratio of 2.33 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. has a twelve month low of $135.19 and a twelve month high of $225.48. The stock’s 50 day moving average is $211.61 and its 200-day moving average is $201.73.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Friday, July 12th. The financial services provider reported $6.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.19 by $1.93. The firm 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 previous year, the firm earned $4.37 EPS. Sell-side analysts expect that JPMorgan Chase & Co. will post 16.78 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

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

JPMorgan Chase & Co. 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.