Cim Investment Management Inc. Sells 91 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Cim Investment Management Inc. trimmed its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.7% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 13,462 shares of the financial services provider’s stock after selling 91 shares during the quarter. JPMorgan Chase & Co. accounts for about 0.8% of Cim Investment Management Inc.’s holdings, making the stock its 17th largest holding. Cim Investment Management Inc.’s holdings in JPMorgan Chase & Co. were worth $2,723,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of JPM. Retirement Group LLC grew 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 buying an additional 109 shares during the last quarter. Fairway Wealth LLC bought a new stake in JPMorgan Chase & Co. in the 2nd quarter worth $32,000. Richardson Capital Management LLC bought a new position in shares of JPMorgan Chase & Co. during the first quarter valued at about $34,000. Anfield Capital Management LLC bought a new position in JPMorgan Chase & Co. during the 2nd quarter valued at approximately $34,000. Finally, Davidson Capital Management Inc. purchased a new stake in JPMorgan Chase & Co. in the first quarter worth $37,000. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Up 0.3 %

NYSE:JPM opened at $210.40 on Friday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.91 and a current ratio of 0.91. The firm has a market cap of $598.62 billion, a P/E ratio of 11.73, a P/E/G ratio of 2.39 and a beta of 1.12. JPMorgan Chase & Co. has a fifty-two week low of $135.19 and a fifty-two week high of $225.48. The firm has a 50-day simple moving average of $211.47 and a two-hundred day simple moving average of $202.41.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Friday, July 12th. The financial services provider reported $6.12 earnings per share for the quarter, beating the consensus estimate of $4.19 by $1.93. The company had revenue of $50.80 billion during 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 quarter last year, the firm earned $4.37 earnings per share. Analysts predict that JPMorgan Chase & Co. will post 16.72 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be paid a $1.25 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $5.00 annualized dividend and a dividend yield of 2.38%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s payout ratio is currently 25.66%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Wolfe Research lowered shares of JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research note on Monday, July 8th. Wells Fargo & Company lifted their price objective on JPMorgan Chase & Co. from $220.00 to $225.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Keefe, Bruyette & Woods increased their target price on JPMorgan Chase & Co. from $209.00 to $211.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 9th. Evercore ISI lifted their price target on JPMorgan Chase & Co. from $210.00 to $211.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. Finally, Oppenheimer upped their price target on JPMorgan Chase & Co. from $215.00 to $221.00 and gave the stock an “outperform” 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 company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.