Trade Report: Today, Excalibur Management Corp cuts its investment of stake in JPMorgan Chase & Co. (JPM)

Today, Excalibur Management Corp cuts its investment of stake in JPMorgan Chase & Co. (JPM)

Excalibur Management Corp reduced its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 3.2% during the third quarter, according to its most recent filing with the SEC. The fund owned 47,331 shares of the financial services provider’s stock after selling 1,570 shares during the period. JPMorgan Chase & Co. makes up approximately 3.0% of Excalibur Management Corp’s portfolio, making the stock its 12th largest position. Excalibur Management Corp’s holdings in JPMorgan Chase & Co. were worth $3,152,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Quadrant Capital Group LLC boosted its position in shares of JPMorgan Chase & Co. by 1.7% in the third quarter. Quadrant Capital Group LLC now owns 15,773 shares of the financial services provider’s stock worth $1,038,000 after buying an additional 260 shares during the period. Vaughan Nelson Investment Management L.P. bought a new position in shares of JPMorgan Chase & Co. during the third quarter worth about $579,000. Highstreet Asset Management Inc. boosted its position in shares of JPMorgan Chase & Co. by 15.3% in the third quarter. Highstreet Asset Management Inc. now owns 64,963 shares of the financial services provider’s stock worth $4,326,000 after buying an additional 8,606 shares during the period. Berkshire Asset Management LLC PA boosted its position in shares of JPMorgan Chase & Co. by 3.3% in the third quarter. Berkshire Asset Management LLC PA now owns 346,164 shares of the financial services provider’s stock worth $23,051,000 after buying an additional 10,933 shares during the period. Finally, Gilman Hill Asset Management LLC boosted its position in shares of JPMorgan Chase & Co. by 3.7% in the third quarter. Gilman Hill Asset Management LLC now owns 13,939 shares of the financial services provider’s stock worth $928,000 after buying an additional 500 shares during the period. 72.45% of the stock is currently owned by institutional investors and hedge funds.

Shares of JPMorgan Chase & Co. (NYSE:JPM) traded down 0.65% during midday trading on Monday, hitting $78.32. 13,007,242 shares of the stock were exchanged. JPMorgan Chase & Co. has a 12 month low of $52.50 and a 12 month high of $80.44. The firm’s 50-day moving average is $71.99 and its 200-day moving average is $66.51. The stock has a market cap of $280.21 billion, a price-to-earnings ratio of 13.51 and a beta of 1.51.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data on Friday, October 14th. The financial services provider reported $1.58 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.39 by $0.19. JPMorgan Chase & Co. had a net margin of 22.92% and a return on equity of 10.47%. The firm had revenue of $25.50 billion for the quarter. During the same quarter in the prior year, the business posted $1.54 earnings per share. JPMorgan Chase & Co.’s revenue for the quarter was up 8.3% on a year-over-year basis. Equities research analysts predict that JPMorgan Chase & Co. will post $5.88 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 31st. Stockholders of record on Thursday, October 6th were paid a dividend of $0.48 per share. The ex-dividend date was Tuesday, October 4th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.45%. JPMorgan Chase & Co.’s dividend payout ratio is presently 33.10%.

JPM has been the topic of a number of recent research reports. Compass Point initiated coverage on JPMorgan Chase & Co. in a research note on Tuesday, October 11th. They set a “sell” rating on the stock. Sanford C. Bernstein cut JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating and raised their target price for the stock from $65.72 to $67.00 in a research note on Tuesday, August 16th. They noted that the move was a valuation call. Keefe, Bruyette & Woods reissued an “outperform” rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 27th. Zacks Investment Research cut JPMorgan Chase & Co. from a “buy” rating to a “hold” rating in a research note on Tuesday, November 15th. Finally, BMO Capital Markets cut JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research note on Monday, October 17th. They noted that the move was a valuation call. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and eighteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $72.43.

In other news, insider Mark O’donovan sold 4,035 shares of the stock in a transaction that occurred on Wednesday, October 26th. The shares were sold at an average price of $69.05, for a total transaction of $278,616.75. Following the transaction, the insider now directly owns 6,005 shares in the company, valued at $414,645.25. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, General Counsel Stacey Friedman sold 2,099 shares of the stock in a transaction that occurred on Wednesday, October 26th. The shares were sold at an average price of $69.03, for a total transaction of $144,893.97. Following the sale, the general counsel now directly owns 4,752 shares of the company’s stock, valued at approximately $328,030.56. The disclosure for this sale can be found here. Insiders own 0.85% of the company’s stock.

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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