Bernardo Wealth Planning LLC Sells 951 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Bernardo Wealth Planning LLC decreased its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 6.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,764 shares of the financial services provider’s stock after selling 951 shares during the quarter. JPMorgan Chase & Co. makes up 1.1% of Bernardo Wealth Planning LLC’s portfolio, making the stock its 21st largest position. Bernardo Wealth Planning LLC’s holdings in JPMorgan Chase & Co. were worth $1,502,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Morgan Stanley lifted its holdings in JPMorgan Chase & Co. by 5.8% during the 2nd quarter. Morgan Stanley now owns 35,662,949 shares of the financial services provider’s stock valued at $3,987,118,000 after buying an additional 1,952,873 shares in the last quarter. Invesco Ltd. lifted its holdings in JPMorgan Chase & Co. by 39.8% during the 2nd quarter. Invesco Ltd. now owns 23,689,706 shares of the financial services provider’s stock valued at $2,648,509,000 after buying an additional 6,745,215 shares in the last quarter. Nuveen Asset Management LLC lifted its holdings in JPMorgan Chase & Co. by 2,432.9% during the 2nd quarter. Nuveen Asset Management LLC now owns 23,689,599 shares of the financial services provider’s stock valued at $2,648,497,000 after buying an additional 22,754,332 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in JPMorgan Chase & Co. by 1.9% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 15,021,076 shares of the financial services provider’s stock valued at $1,679,357,000 after purchasing an additional 275,854 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its position in JPMorgan Chase & Co. by 1.0% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 12,687,342 shares of the financial services provider’s stock valued at $1,493,173,000 after purchasing an additional 125,867 shares during the period. Institutional investors own 71.90% of the company’s stock.

A number of research analysts have commented on JPM shares. Goldman Sachs Group reissued a “neutral” rating and set a $117.00 target price on shares of JPMorgan Chase & Co. in a research report on Monday, July 22nd. Credit Suisse Group set a $135.00 target price on shares of JPMorgan Chase & Co. and gave the company a “buy” rating in a research report on Friday, October 11th. UBS Group raised their target price on shares of JPMorgan Chase & Co. from $131.00 to $132.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Societe Generale downgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “sell” rating in a research report on Tuesday, October 29th. Finally, DZ Bank reissued a “hold” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, August 21st. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have given a buy rating to the company. JPMorgan Chase & Co. currently has a consensus rating of “Hold” and a consensus target price of $123.02.

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In other news, insider Nicole Giles sold 863 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $126.73, for a total value of $109,367.99. Following the transaction, the insider now owns 8,949 shares of the company’s stock, valued at approximately $1,134,106.77. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Gordon Smith sold 83,289 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $119.98, for a total transaction of $9,993,014.22. Following the completion of the transaction, the chief executive officer now directly owns 393,197 shares in the company, valued at approximately $47,175,776.06. The disclosure for this sale can be found here. In the last ninety days, insiders sold 152,944 shares of company stock worth $19,088,970. Insiders own 0.76% of the company’s stock.

Shares of JPMorgan Chase & Co. stock opened at $130.38 on Friday. The firm’s 50 day moving average price is $120.77 and its 200-day moving average price is $114.02. The company has a quick ratio of 0.97, a current ratio of 0.93 and a debt-to-equity ratio of 1.26. JPMorgan Chase & Co. has a 52-week low of $91.11 and a 52-week high of $131.29. The company has a market cap of $404.92 billion, a P/E ratio of 14.49, a PEG ratio of 1.81 and a beta of 1.21.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $2.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.45 by $0.23. JPMorgan Chase & Co. had a net margin of 24.70% and a return on equity of 14.63%. The firm had revenue of $29.34 billion for the quarter, compared to the consensus estimate of $28.36 billion. During the same quarter in the previous year, the firm earned $2.34 EPS. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. As a group, equities research analysts forecast that JPMorgan Chase & Co. will post 10.17 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 4th were given a $0.90 dividend. The ex-dividend date was Thursday, October 3rd. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.76%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $0.80. JPMorgan Chase & Co.’s payout ratio is presently 40.00%.

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 and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit card, payment processing, auto loan, and leasing services.

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Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

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