Financial Management Network Inc. increased its stake in JPMorgan Chase & Co. (NYSE:JPM) by 11.5% in the 1st quarter, Holdings Channel.com reports. The institutional investor held 5,806 shares of the financial services provider after purchasing an additional 597 shares during the quarter. Financial Management Network Inc.’s holdings in JPMorgan Chase & Co. were worth $789,000 at the end of the most recent period.
Several other hedge funds have also recently increased or reduced their stakes in JPM. Norges Bank bought a new stock position in JPMorgan Chase & Co. in the fourth quarter worth $4,092,843,000. GQG Partners LLC increased its holdings of JPMorgan Chase & Co. shares by 403.3% in the fourth quarter. GQG Partners LLC now owns 5,095,612 shares of the financial services provider worth $806,728,000 after purchasing an additional 4,083,231 shares last quarter. Renaissance Technologies LLC increased its holdings of JPMorgan Chase & Co. shares by 1,543.7% in the fourth quarter. Renaissance Technologies LLC now owns 3,341,486 shares of the financial services provider worth $529,124,000 after purchasing an additional 3,138,200 shares last quarter. State Street Corp increased its holdings of JPMorgan Chase & Co. shares 1.6% in the fourth quarter. State Street Corp now owns 141,720,090 shares of the financial services provider worth $22,441,376,000 after buying an additional 2,277,065 shares last quarter. Finally, National Bank of Canada FI bought a new position in shares of JPMorgan Chase & Co. in the fourth quarter at a value of $298,028,000. 70.35% of the shares are currently held by hedge funds and other institutional investors.
Several equity research analysts have recently weighed in on the stock. Berenberg Bank set a price target of $120.00 on JPMorgan Chase & Co. shares in a Tuesday, April 19 research report. Argus cut its price target on JPMorgan Chase & Co. shares from $177.00 to $155.00 in a Thursday, April 14 research report. Credit Suisse Group set a price target of $160.00 on JPMorgan Chase & Co. shares in a research report on Wednesday, May 25. Oppenheimer upgraded JPMorgan Chase & Co. shares from a “market performer” rating to an “outperformer” rating and set a price target of $167.00 on the stock in a report of research from Tuesday, May 3. Finally, Jefferies Financial Group raised its price target on JPMorgan Chase & Co. shares from $125.00 to $137.00 in a Tuesday, May 24 research report. One research analyst rated the stock with a sell rating, eight gave a hold rating and eight issued a buy rating for the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $159.33.
In related news, CEO Jennifer Piepszak sold 4,668 shares of the company in a trade dated Thursday, April 14. The shares were sold at an average price of $126.19, for a total value of $589,054.92. Following the completion of the sale, the CEO now directly owns 11,135 shares of the company, valued at $1,405,125.65. The transaction was disclosed in a legal filing with the SEC, accessible via this hyperlink. Also, insider Ashley Bacon sold 21,012 shares of the company in a transaction dated Tuesday, April 19. The stock was sold at an average price of $130.04, for a total transaction of $2,732,400.48. Following the completion of the sale, the insider now directly owns 178,588 shares of the company, valued at $23,223,583.52. Disclosure of this sale can be found here. 0.79% of the shares are held by insiders.
NYSEJPM opened at $114.36 on Friday. The company’s 50-day moving average price is $120.53 and its 200-day moving average price is $136.10. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt ratio of 1.16. The stock has a market capitalization of $335.88 billion, a PE ratio of 8.48, a PEG ratio of 1.99 and a beta of 1.15. JPMorgan Chase & Co. has a 12-month low of $109.30 and a 12-month high of $172.96.
JPMorgan Chase & Co. (NYSE:JPM – Get a rating) last released its quarterly earnings data on Wednesday, April 13. The financial services provider reported earnings per share of $2.63 for the quarter, missing analyst consensus estimates of $2.73 per ($0.10). JPMorgan Chase & Co. achieved a return on equity of 16.58% and a net margin of 33.61%. The company posted revenue of $30.72 billion in the quarter, compared to $30.53 billion expected by analysts. During the same period last year, the company earned earnings per share of $4.50. The company’s revenue decreased by 4.8% compared to the same quarter last year. As a group, sell-side analysts expect JPMorgan Chase & Co. to post earnings per share of 11.23 for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, July 31. Investors of record on Wednesday, July 6 will receive a dividend of $1.00. This represents a dividend of $4.00 on an annualized basis and a yield of 3.50%. The ex-dividend date is Tuesday, July 5. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 29.67%.
About JPMorgan Chase & Co. (Get a rating)
JPMorgan Chase & Co operates as a worldwide financial services company. 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 s deposit, investment and lending products, payments and consumer services; lending, deposit, cash management and payment solutions for small businesses; mortgage origination and management activities; residential mortgages and home equity loans; and credit card, car loan and leasing services.
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