Today: The Proffitt & Goodson Inc. reached $302,000 position of JPMorgan Chase & Co. (JPM)

The Proffitt & Goodson Inc. reached $302,000 position  of JPMorgan Chase & Co. (JPM)

Proffitt & Goodson Inc. held its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) during the second quarter, according to its most recent disclosure with the SEC. The fund owned 4,860 shares of the financial services provider’s stock at the end of the second quarter. Proffitt & Goodson Inc.’s holdings in JPMorgan Chase & Co. were worth $302,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of JPM. Thomaspartners Inc. increased its stake in shares of JPMorgan Chase & Co. by 2.8% in the first quarter. Thomaspartners Inc. now owns 2,209,051 shares of the financial services provider’s stock worth $130,820,000 after buying an additional 59,821 shares during the period. Royal Bank of Scotland Group PLC increased its stake in shares of JPMorgan Chase & Co. by 0.6% in the first quarter. Royal Bank of Scotland Group PLC now owns 533,397 shares of the financial services provider’s stock worth $31,588,000 after buying an additional 3,010 shares during the period. Aviva PLC increased its stake in shares of JPMorgan Chase & Co. by 1.4% in the first quarter. Aviva PLC now owns 2,598,743 shares of the financial services provider’s stock worth $153,898,000 after buying an additional 35,131 shares during the period. Marathon Asset Management LLP increased its stake in shares of JPMorgan Chase & Co. by 1.9% in the second quarter. Marathon Asset Management LLP now owns 398,477 shares of the financial services provider’s stock worth $24,763,000 after buying an additional 7,247 shares during the period. Finally, Raymond James Trust N.A. increased its stake in shares of JPMorgan Chase & Co. by 4.2% in the second quarter. Raymond James Trust N.A. now owns 263,857 shares of the financial services provider’s stock worth $16,396,000 after buying an additional 10,699 shares during the period. 73.34% of the stock is owned by institutional investors.

JPMorgan Chase & Co. (NYSE:JPM) traded down 0.57% during trading on Thursday, hitting $67.74. 17,884,909 shares of the stock traded hands. JPMorgan Chase & Co. has a 52-week low of $52.50 and a 52-week high of $69.06. The firm has a 50-day moving average price of $66.94 and a 200 day moving average price of $63.93. The company has a market cap of $244.64 billion, a P/E ratio of 11.48 and a beta of 1.54.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Thursday, October 6th will be given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date is Tuesday, October 4th. JPMorgan Chase & Co.’s dividend payout ratio is presently 32.54%.

A number of analysts have recently weighed in on JPM shares. Credit Agricole SA upped their price target on shares of JPMorgan Chase & Co. from $71.00 to $79.00 and gave the stock a “buy” rating in a report on Friday, September 23rd. Zacks Investment Research downgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “sell” rating in a research note on Tuesday, September 20th. Keefe, Bruyette & Woods reissued an “outperform” rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 27th. Nomura reissued a “hold” rating and issued a $65.00 price objective on shares of JPMorgan Chase & Co. in a research note on Thursday, September 29th. Finally, Sandler O’Neill downgraded shares of JPMorgan Chase & Co. from a “buy” rating to a “hold” rating and set a $72.00 price objective for the company. in a research note on Thursday, October 6th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty-three have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $72.25.

In other news, COO Matthew E. Zames sold 3,991 shares of the company’s stock in a transaction dated Friday, July 15th. The shares were sold at an average price of $63.91, for a total value of $255,064.81. Following the sale, the chief operating officer now directly owns 282,287 shares of the company’s stock, valued at approximately $18,040,962.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Gordon Smith sold 23,735 shares of the company’s stock in a transaction dated Friday, July 15th. The stock was sold at an average price of $64.05, for a total transaction of $1,520,226.75. Following the completion of the sale, the executive vice president now directly owns 152,462 shares in the company, valued at $9,765,191.10. The disclosure for this sale can be found here. 0.85% of the stock is currently owned by insiders.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a financial holding company. The Company is engaged in investment banking, financial services. It operates in four segments, as well as a Corporate segment. Its segments are Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking and Asset Management. The Consumer & Community Banking segment serves consumers and businesses through personal service at bank branches and through automatic teller machines, online, mobile and telephone banking.

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