Financial Management Professionals Inc. increased its equity stake in JPMorgan Chase & Co. (NYSE:JPM – Get a rating) by 5.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund held 9,618 shares of the financial services provider after acquiring an additional 523 shares during the quarter. Financial Management Professionals Inc.’s holdings in JPMorgan Chase & Co. were worth $1,311,000 when it last filed with the SEC.
A number of other institutional investors also changed their positions in JPM. Norges Bank acquired a new stock position in JPMorgan Chase & Co. during Q4 for a value of approximately $4,092,843,000. GQG Partners LLC increased its stake in JPMorgan Chase & Co. by 403.3% in the fourth quarter. GQG Partners LLC now owns 5,095,612 shares of the financial services provider valued at $806,728,000 after purchasing an additional 4,083,231 shares during the period. Renaissance Technologies LLC increased its stake in JPMorgan Chase & Co. by 1,543.7% in the fourth quarter. Renaissance Technologies LLC now owns 3,341,486 shares of the financial services provider valued at $529,124,000 after purchasing an additional 3,138,200 shares during the period. State Street Corp increased its stake in JPMorgan Chase & Co. by 1.6% in the 4th quarter. State Street Corp now owns 141,720,090 shares of the financial services provider valued at $22,441,376,000 after purchasing an additional 2,277,065 shares during the period. Finally, National Bank of Canada FI acquired a new stake in JPMorgan Chase & Co. in the 4th quarter valued at $298,028,000. 70.35% of the shares are held by institutional investors and hedge funds.
Insiders place their bets
In other JPMorgan Chase & Co. news, an 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 value of $2,732,400.48. Following the completion of the transaction, the insider now owns 178,588 shares of the company, valued at approximately $23,223,583.52. The sale was disclosed in a legal filing with the SEC, which is available via the SEC website. Insiders own 0.79% of the shares of the company.
Price performance of JPMorgan Chase & Co.
Shares of JPM Stock opened at $112.95 on Monday. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt ratio of 1.14. JPMorgan Chase & Co. has a 12-month low of $106.06 and a 12-month high of $172.96. The company has a market capitalization of $331.74 billion, a P/E ratio of 9.07, a P/E/G ratio of 2.00 and a beta of 1.15. The company has a fifty-day simple moving average of $119.34 and a 200-day simple moving average of $134.17.
JPMorgan Chase & Co. (NYSE:JPM – Get a rating) last reported quarterly earnings data on Thursday, July 14. The financial services provider reported earnings per share of $2.76 for the quarter, hitting the consensus estimate of $2.76. JPMorgan Chase & Co. achieved a return on equity of 15.29% and a net margin of 30.41%. The company posted revenue of $30.72 billion in the quarter, versus a consensus estimate of $31.82 billion. During the same period of the previous year, the company achieved EPS of $3.78. JPMorgan Chase & Co. revenue for the quarter increased 0.8% year on year. On average, sell-side analysts expect JPMorgan Chase & Co. to post EPS of 11.26 for the current fiscal year.
JPMorgan Chase & Co. dividend announcement
The company also recently announced a quarterly dividend, which will be paid on Sunday, July 31. Shareholders of record on Wednesday, July 6 will receive a dividend of $1.00. The ex-dividend date is Tuesday, July 5. This represents a dividend of $4.00 on an annualized basis and a yield of 3.54%. JPMorgan Chase & Co.’s payout ratio is currently 32.10%.
Wall Street analysts predict growth
Several research companies have recently published reports on JPM. BMO Capital Markets raised its price target on JPMorgan Chase & Co. from $150.00 to $156.00 in a Tuesday, May 24 research note. UBS Group cut its price target on JPMorgan Chase & Co. from $134.00 to $126.00 and set a “buy” rating for the company in a research note on Friday. Jefferies Financial Group cut its price target on JPMorgan Chase & Co. from $137.00 to $126.00 and set a “holding” rating for the company in a Monday, July 11 research note. Goldman Sachs Group has set a price target of $151.00 on JPMorgan Chase & Co. and assigned the company a “buy” rating in a Thursday, April 14 research note. Finally, Evercore ISI cut its price target on JPMorgan Chase & Co. from $135.00 to $125.00 in a research note on Friday. One analyst rated the stock with a sell rating, seven issued a hold rating and nine assigned the company a buy rating. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $145.95.
Profile of JPMorgan Chase & Co.
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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