Hartford Financial Management Inc. cuts its holdings in JPMorgan Chase & Co. (NYSE:JPM)


Hartford Financial Management Inc. reduced its stake in JPMorgan Chase & Co. (NYSE:JPM) by 0.7% during the 1st quarter, according to the company in its latest 13F filing with the Securities and Exchange Commission. The company held 59,442 shares of the financial services provider after selling 433 shares during the period. JPMorgan Chase & Co. accounts for about 2.0% of Hartford Financial Management Inc.’s holdings, making the stock its 5th largest holding. Hartford Financial Management Inc.’s holdings in JPMorgan Chase & Co. were worth $8,103,000 when it last filed with the SEC.

Several other large investors have also recently changed their stock holdings. Hurlow Wealth Management Group Inc. increased its stake in JPMorgan Chase & Co. by 1.1% in the fourth quarter. Hurlow Wealth Management Group Inc. now owns 6,166 shares of the financial services provider valued at $793,000 after buying 69 additional shares in the last quarter. Bigelow Investment Advisors LLC raised its position in JPMorgan Chase & Co. shares by 1.0% in the fourth quarter. Bigelow Investment Advisors LLC now owns 6,886 shares of the financial services provider valued at $1,090,000 after buying 69 additional shares last quarter. Valley Brook Capital Group Inc. raised its position in JPMorgan Chase & Co. shares by 0.4% in the fourth quarter. Valley Brook Capital Group Inc. now owns 18,319 shares of the financial services provider valued at $2,900,000 after buying 70 additional shares last quarter. Cable Hill Partners LLC raised its position in JPMorgan Chase & Co. shares by 1.2% in the fourth quarter. Cable Hill Partners LLC now owns 6,063 shares of the financial services provider valued at $960,000 after buying 70 additional shares last quarter. Finally, Legacy Wealth Asset Management LLC increased its stake in JPMorgan Chase & Co. by 1.1% in the fourth quarter. Legacy Wealth Asset Management LLC now owns 6,693 shares of the financial services provider valued at $1,060,000 after acquiring 71 additional shares in the last quarter. 70.35% of the shares are currently held by institutional investors.

Changes to analyst ratings

JPM has been the subject of a number of research reports. Societe Generale upgraded the shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and raised its share price target from $145.00 to $150.00 in a research note of Tuesday, May 24. Credit Suisse Group cut its price target on JPMorgan Chase & Co. shares from $160.00 to $145.00 and set an “outperform” rating on the stock in a Friday 15 research note. July. Citigroup upgraded JPMorgan Chase & Co. shares from a “neutral” rating to a “buy” rating and lowered its price target for the company from $145.00 to $135.00 in a Tuesday report July 12. Morgan Stanley lowered its price target on shares of JPMorgan Chase & Co. from $149.00 to $127.00 and set an “underweight” rating on the stock in a Tuesday, July 12 report. Finally, Berenberg Bank upgraded JPMorgan Chase & Co. shares from a “sell” rating to a “hold” rating and set a price target of $120.00 on the stock in a report from the Monday July 18. One stock research analyst gave the stock a sell rating, eight gave the company a hold rating and nine gave the company a buy rating. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $145.95.

JPMorgan Chase & Co. Stock up 3.0%

Shares of JPMorgan Chase & Co stock. opened at $115.76 on Friday. The company has a 50-day simple moving average of $116.99 and a two-hundred-day simple moving average of $129.33. JPMorgan Chase & Co. has a 52-week low of $106.06 and a 52-week high of $172.96. The stock has a market capitalization of $339.47 billion, a PE ratio of 9.29, a growth price-earnings ratio of 2.00 and a beta of 1.12. The company has a debt ratio of 1.14, a quick ratio of 0.82 and a current ratio of 0.83.

JPMorgan Chase & Co. (NYSE:JPMGet a rating) last announced its results on Thursday, July 14. The financial services provider reported earnings per share (EPS) of $2.76 for the quarter, matching the consensus estimate of $2.76. The company posted revenue of $30.72 billion in the quarter, versus analyst estimates of $31.82 billion. JPMorgan Chase & Co. posted a net margin of 30.41% and a return on equity of 15.29%. The company’s quarterly revenue increased 0.8% from the same quarter last year. In the same period a year earlier, the company posted earnings per share of $3.78. On average, analysts expect JPMorgan Chase & Co. to post EPS of 11.21 for the current fiscal year.

JPMorgan Chase & Co. announces dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, July 31. Shareholders of record on Wednesday, July 6 received a dividend of $1.00. This represents an annualized dividend of $4.00 and a dividend yield of 3.46%. The ex-dividend date was Tuesday, July 5. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 32.10%.

JPMorgan Chase & Co. Company Profile

(Get a rating)

JPMorgan Chase & Co operates as a worldwide financial services company. 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 s deposit, investment and lending products, payments and consumer services; lending, deposit, cash management and payment solutions for small businesses; mortgage origination and management activities; residential mortgages and home equity loans; and credit card, car loan and leasing services.

See also

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Institutional ownership by quarter for JPMorgan Chase & Co. (NYSE: JPM)



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