National Wealth Management Group LLC purchased a new stake in shares of JPMorgan Chase & Co. (NYSE:JPM) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 3,397 shares of the financial services provider’s stock, valued at approximately $530,000.
Several other hedge funds have also added to or reduced their stakes in JPM. Bank Julius Baer & Co. Ltd Zurich increased its position in JPMorgan Chase & Co. by 97,681.8% during the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 2,056,747,063 shares of the financial services provider’s stock worth $299,133,293,000 after buying an additional 2,054,643,659 shares during the period. Moneta Group Investment Advisors LLC increased its position in JPMorgan Chase & Co. by 105,652.2% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 98,000,567 shares of the financial services provider’s stock worth $13,141,876,000 after buying an additional 97,907,897 shares during the period. Norges Bank bought a new position in JPMorgan Chase & Co. during the 4th quarter worth $3,894,646,000. Morgan Stanley increased its position in JPMorgan Chase & Co. by 15.9% during the 4th quarter. Morgan Stanley now owns 59,049,256 shares of the financial services provider’s stock worth $7,918,506,000 after buying an additional 8,088,433 shares during the period. Finally, Providence Capital Advisors LLC increased its position in JPMorgan Chase & Co. by 13,205.6% during the 1st quarter. Providence Capital Advisors LLC now owns 5,395,818 shares of the financial services provider’s stock worth $41,407,000 after buying an additional 5,355,265 shares during the period. Institutional investors and hedge funds own 68.94% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research analysts recently commented on the company. Jefferies Financial Group decreased their price target on JPMorgan Chase & Co. from $176.00 to $169.00 in a research report on Tuesday, October 10th. BMO Capital Markets raised their price target on JPMorgan Chase & Co. from $167.00 to $171.00 and gave the stock a “market perform” rating in a research report on Monday, October 16th. Morgan Stanley raised their price target on JPMorgan Chase & Co. from $187.00 to $191.00 and gave the stock an “overweight” rating in a research report on Monday, October 16th. HSBC started coverage on JPMorgan Chase & Co. in a research report on Thursday, September 7th. They issued a “hold” rating and a $159.00 price target on the stock. Finally, Odeon Capital Group cut JPMorgan Chase & Co. from a “buy” rating to a “hold” rating and set a $140.00 target price on the stock. in a research report on Thursday, November 2nd. Nine research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, JPMorgan Chase & Co. currently has an average rating of “Moderate Buy” and an average price target of $168.80.
Insider Transactions at JPMorgan Chase & Co.
In other news, General Counsel Stacey Friedman sold 4,310 shares of the company’s stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $144.86, for a total transaction of $624,346.60. Following the transaction, the general counsel now directly owns 53,425 shares of the company’s stock, valued at $7,739,145.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.79% of the stock is owned by insiders.
JPMorgan Chase & Co. Price Performance
JPMorgan Chase & Co. stock opened at $152.82 on Monday. The stock’s 50 day moving average is $145.05 and its 200 day moving average is $145.20. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.90 and a quick ratio of 0.90. The firm has a market cap of $441.80 billion, a P/E ratio of 9.12, a P/E/G ratio of 1.80 and a beta of 1.12. JPMorgan Chase & Co. has a one year low of $123.11 and a one year high of $159.38.
JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last posted its quarterly earnings data on Friday, October 13th. The financial services provider reported $4.33 EPS for the quarter, topping analysts’ consensus estimates of $3.95 by $0.38. The company had revenue of $40.69 billion for the quarter, compared to analyst estimates of $39.63 billion. JPMorgan Chase & Co. had a return on equity of 17.97% and a net margin of 22.79%. The firm’s quarterly revenue was up 24.4% on a year-over-year basis. During the same period in the previous year, the firm earned $3.12 earnings per share. As a group, research analysts expect that JPMorgan Chase & Co. will post 16.67 EPS for the current year.
JPMorgan Chase & Co. Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, October 31st. Stockholders of record on Friday, October 6th were given a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a dividend yield of 2.75%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend was Thursday, October 5th. JPMorgan Chase & Co.’s dividend payout ratio is presently 25.07%.
JPMorgan Chase & Co. Company 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, investment and lending products, cash management, and payments and services to consumers and small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services.
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