Murphy Capital Management Inc. Sells 1,209 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Murphy Capital Management Inc. decreased its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 1.2% in the 2nd quarter, HoldingsChannel reports. The firm owned 96,206 shares of the financial services provider’s stock after selling 1,209 shares during the quarter. JPMorgan Chase & Co. accounts for approximately 1.5% of Murphy Capital Management Inc.’s portfolio, making the stock its 17th largest position. Murphy Capital Management Inc.’s holdings in JPMorgan Chase & Co. were worth $10,833,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Dravo Bay LLC bought a new stake in shares of JPMorgan Chase & Co. during the first quarter worth $26,000. Advanced Research Investment Solutions LLC raised its position in shares of JPMorgan Chase & Co. by 118.2% during the first quarter. Advanced Research Investment Solutions LLC now owns 288 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 156 shares during the last quarter. Cordant Inc. bought a new stake in shares of JPMorgan Chase & Co. during the first quarter worth $47,000. SFI Advisors LLC bought a new stake in shares of JPMorgan Chase & Co. during the first quarter worth $54,255,000. Finally, Delos Wealth Advisors LLC raised its position in shares of JPMorgan Chase & Co. by 13,433.3% during the fourth quarter. Delos Wealth Advisors LLC now owns 406 shares of the financial services provider’s stock worth $64,000 after acquiring an additional 403 shares during the last quarter. Institutional investors own 68.57% of the company’s stock.

JPMorgan Chase & Co. Stock Down 1.1 %

JPM stock opened at $111.21 on Friday. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.83 and a quick ratio of 0.83. The stock has a market capitalization of $326.13 billion, a P/E ratio of 8.93, a P/E/G ratio of 2.04 and a beta of 1.10. The business has a 50-day moving average of $116.09 and a 200-day moving average of $122.16. JPMorgan Chase & Co. has a fifty-two week low of $106.06 and a fifty-two week high of $172.96.

JPMorgan Chase & Co. (NYSE:JPMGet Rating) last posted its quarterly earnings data on Thursday, July 14th. The financial services provider reported $2.76 earnings per share for the quarter, missing the consensus estimate of $2.85 by ($0.09). The firm had revenue of $30.72 billion for the quarter, compared to analyst estimates of $31.82 billion. JPMorgan Chase & Co. had a return on equity of 15.29% and a net margin of 30.41%. The firm’s quarterly revenue was up .8% on a year-over-year basis. During the same period in the prior year, the company earned $3.78 earnings per share. On average, sell-side analysts anticipate that JPMorgan Chase & Co. will post 11.33 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Thursday, October 6th will be given a dividend of $1.00 per share. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $4.00 annualized dividend and a dividend yield of 3.60%. JPMorgan Chase & Co.’s dividend payout ratio is currently 32.10%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft dropped their target price on JPMorgan Chase & Co. from $174.00 to $155.00 and set a “buy” rating for the company in a research report on Monday, September 12th. Citigroup upgraded JPMorgan Chase & Co. from a “neutral” rating to a “buy” rating and dropped their price objective for the company from $145.00 to $135.00 in a report on Tuesday, July 12th. Credit Suisse Group set a $145.00 price objective on JPMorgan Chase & Co. in a report on Monday, August 8th. Royal Bank of Canada set a $130.00 price objective on JPMorgan Chase & Co. in a report on Tuesday, September 6th. Finally, Oppenheimer dropped their price objective on JPMorgan Chase & Co. from $154.00 to $153.00 and set an “outperform” rating for the company in a report on Friday, July 15th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $145.95.

About JPMorgan Chase & Co.

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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 s deposit, investment and lending products, payments, 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, auto loan, and leasing services.

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

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