Investment Counsel Inc. Sells 2,550 Shares of JPMorgan Chase & Co. (NYSE:JPM)

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Investment Counsel Inc. decreased its position in JPMorgan Chase & Co. (NYSE:JPM) by 8.1% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 29,124 shares of the financial services provider’s stock after selling 2,550 shares during the quarter. JPMorgan Chase & Co. comprises 2.5% of Investment Counsel Inc.’s holdings, making the stock its 11th largest position. Investment Counsel Inc.’s holdings in JPMorgan Chase & Co. were worth $3,353,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in the stock. Harvey Investment Co. LLC increased its stake in JPMorgan Chase & Co. by 0.4% in the 2nd quarter. Harvey Investment Co. LLC now owns 21,596 shares of the financial services provider’s stock worth $2,414,000 after purchasing an additional 90 shares during the period. CMH Wealth Management LLC increased its stake in JPMorgan Chase & Co. by 0.4% in the 2nd quarter. CMH Wealth Management LLC now owns 25,978 shares of the financial services provider’s stock worth $2,904,000 after purchasing an additional 95 shares during the period. Adirondack Trust Co. increased its stake in JPMorgan Chase & Co. by 0.5% in the 4th quarter. Adirondack Trust Co. now owns 20,026 shares of the financial services provider’s stock worth $1,955,000 after purchasing an additional 99 shares during the period. Comprehensive Portfolio Management LLC increased its stake in shares of JPMorgan Chase & Co. by 1.3% during the second quarter. Comprehensive Portfolio Management LLC now owns 8,005 shares of the financial services provider’s stock valued at $895,000 after buying an additional 99 shares during the period. Finally, Navellier & Associates Inc increased its stake in shares of JPMorgan Chase & Co. by 4.8% during the second quarter. Navellier & Associates Inc now owns 2,181 shares of the financial services provider’s stock valued at $244,000 after buying an additional 100 shares during the period. Institutional investors own 71.59% of the company’s stock.

Several equities analysts have recently issued reports on the company. Goldman Sachs Group reissued a “neutral” rating and set a $117.00 target price on shares of JPMorgan Chase & Co. in a research note on Monday, July 22nd. Zacks Investment Research cut JPMorgan Chase & Co. from a “buy” rating to a “hold” rating in a research note on Tuesday, May 14th. Deutsche Bank reissued a “neutral” rating on shares of JPMorgan Chase & Co. in a research note on Friday, June 28th. ValuEngine cut JPMorgan Chase & Co. from a “hold” rating to a “sell” rating in a research note on Thursday, August 8th. Finally, Morgan Stanley set a $122.00 target price on JPMorgan Chase & Co. and gave the company a “buy” rating in a research note on Friday, August 9th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $122.32.

In related news, insider Lori A. Beer sold 13,341 shares of the company’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $114.28, for a total value of $1,524,609.48. Following the sale, the insider now directly owns 10,130 shares of the company’s stock, valued at $1,157,656.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Mellody L. Hobson purchased 18,200 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Thursday, August 8th. The stock was purchased at an average cost of $109.91 per share, for a total transaction of $2,000,362.00. Following the completion of the purchase, the director now owns 7,804 shares of the company’s stock, valued at $857,737.64. The disclosure for this purchase can be found here. 0.76% of the stock is owned by corporate insiders.

JPM opened at $106.49 on Wednesday. The stock has a market capitalization of $344.31 billion, a PE ratio of 11.83, a PEG ratio of 1.58 and a beta of 1.16. The company’s 50 day simple moving average is $112.92. JPMorgan Chase & Co. has a 52-week low of $91.11 and a 52-week high of $119.24. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.22.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $2.82 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.50 by $0.32. The company had revenue of $28.83 billion for the quarter, compared to analysts’ expectations of $28.52 billion. JPMorgan Chase & Co. had a return on equity of 14.40% and a net margin of 24.73%. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period in the prior year, the firm earned $2.29 earnings per share. As a group, analysts forecast that JPMorgan Chase & Co. will post 9.92 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Friday, July 5th were paid a $0.80 dividend. The ex-dividend date was Wednesday, July 3rd. This represents a $3.20 annualized dividend and a yield of 3.01%. JPMorgan Chase & Co.’s payout ratio is 35.56%.

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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