ELCO Management Co. LLC Cuts Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

ELCO Management Co. LLC reduced its position in JPMorgan Chase & Co. (NYSE:JPM) by 2.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,885 shares of the financial services provider’s stock after selling 167 shares during the period. JPMorgan Chase & Co. comprises about 0.9% of ELCO Management Co. LLC’s portfolio, making the stock its 27th biggest holding. ELCO Management Co. LLC’s holdings in JPMorgan Chase & Co. were worth $1,595,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Instrumental Wealth LLC boosted its holdings in shares of JPMorgan Chase & Co. by 4.5% in the 2nd quarter. Instrumental Wealth LLC now owns 1,101 shares of the financial services provider’s stock valued at $230,000 after purchasing an additional 47 shares during the last quarter. Gemmer Asset Management LLC boosted its holdings in JPMorgan Chase & Co. by 1.6% in the second quarter. Gemmer Asset Management LLC now owns 3,135 shares of the financial services provider’s stock valued at $634,000 after acquiring an additional 48 shares during the last quarter. Great Point Wealth Advisors LLC boosted its holdings in JPMorgan Chase & Co. by 0.9% in the second quarter. Great Point Wealth Advisors LLC now owns 5,690 shares of the financial services provider’s stock valued at $1,151,000 after acquiring an additional 48 shares during the last quarter. Northside Capital Management LLC grew its position in JPMorgan Chase & Co. by 0.7% during the second quarter. Northside Capital Management LLC now owns 6,750 shares of the financial services provider’s stock valued at $1,365,000 after acquiring an additional 50 shares during the period. Finally, Highland Financial Advisors LLC increased its stake in JPMorgan Chase & Co. by 0.7% during the second quarter. Highland Financial Advisors LLC now owns 7,056 shares of the financial services provider’s stock worth $1,427,000 after acquiring an additional 50 shares during the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on JPM. Jefferies Financial Group boosted their target price on JPMorgan Chase & Co. from $230.00 to $239.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd. Wells Fargo & Company increased their price objective on shares of JPMorgan Chase & Co. from $220.00 to $225.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Barclays raised their target price on shares of JPMorgan Chase & Co. from $212.00 to $217.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Wolfe Research cut shares of JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research report on Monday, July 8th. Finally, StockNews.com raised JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research report on Saturday, July 13th. Eight analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $211.06.

JPMorgan Chase & Co. Trading Down 0.2 %

NYSE JPM opened at $209.78 on Friday. The company has a market capitalization of $596.86 billion, a price-to-earnings ratio of 11.70, a price-to-earnings-growth ratio of 2.39 and a beta of 1.12. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.91 and a quick ratio of 0.91. JPMorgan Chase & Co. has a 12 month low of $135.19 and a 12 month high of $225.48. The company’s fifty day moving average price is $211.47 and its two-hundred day moving average price is $202.20.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Friday, July 12th. The financial services provider reported $6.12 EPS for the quarter, topping analysts’ consensus estimates of $4.19 by $1.93. The business had revenue of $50.80 billion during the quarter, compared to the consensus estimate of $42.23 billion. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. During the same period last year, the firm earned $4.37 earnings per share. As a group, research analysts predict that JPMorgan Chase & Co. will post 16.72 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

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

About JPMorgan Chase & Co.

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.