First Allied Advisory Services Inc. grew its position in JPMorgan Chase & Co. (NYSE:JPM) by 6.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 137,552 shares of the financial services provider’s stock after purchasing an additional 8,703 shares during the quarter. First Allied Advisory Services Inc.’s holdings in JPMorgan Chase & Co. were worth $12,384,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Lion Street Advisors LLC bought a new stake in shares of JPMorgan Chase & Co. during the 1st quarter valued at about $37,000. NWK Group Inc. acquired a new position in JPMorgan Chase & Co. in the fourth quarter valued at approximately $39,000. Lloyd Advisory Services LLC. bought a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $45,000. Horan Securities Inc. bought a new position in shares of JPMorgan Chase & Co. during the 1st quarter worth approximately $45,000. Finally, Permanens Capital L.P. acquired a new stake in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $50,000. Institutional investors own 73.01% of the company’s stock.
JPM has been the topic of several research analyst reports. Royal Bank of Canada set a $99.00 target price on shares of JPMorgan Chase & Co. and gave the stock a “buy” rating in a research note on Tuesday, April 14th. Morgan Stanley cut their price objective on shares of JPMorgan Chase & Co. from $109.00 to $101.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 15th. Deutsche Bank restated a “neutral” rating and issued a $105.00 target price (down from $130.00) on shares of JPMorgan Chase & Co. in a research note on Thursday, April 2nd. ValuEngine raised JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research note on Thursday, April 9th. Finally, Wells Fargo & Co reduced their price objective on JPMorgan Chase & Co. from $140.00 to $125.00 and set an “overweight” rating for the company in a research note on Wednesday, April 1st. Ten research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $109.75.
JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Tuesday, April 14th. The financial services provider reported $0.78 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.70 by ($1.92). JPMorgan Chase & Co. had a net margin of 21.61% and a return on equity of 12.52%. The firm had revenue of $28.25 billion during the quarter, compared to analysts’ expectations of $29.45 billion. During the same quarter in the prior year, the company earned $2.65 EPS. The business’s revenue for the quarter was down 3.0% on a year-over-year basis. On average, sell-side analysts forecast that JPMorgan Chase & Co. will post 5.13 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 6th will be paid a $0.90 dividend. The ex-dividend date is Thursday, July 2nd. This represents a $3.60 annualized dividend and a yield of 4.02%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 34.35%.
In other JPMorgan Chase & Co. news, Director Stephen B. Burke bought 75,000 shares of the stock in a transaction dated Thursday, April 16th. The shares were bought at an average cost of $87.99 per share, for a total transaction of $6,599,250.00. Following the purchase, the director now directly owns 150,043 shares of the company’s stock, valued at approximately $13,202,283.57. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Ashley Bacon sold 13,027 shares of the business’s stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $91.12, for a total transaction of $1,187,020.24. Following the completion of the transaction, the insider now directly owns 137,243 shares in the company, valued at $12,505,582.16. The disclosure for this sale can be found here. 0.78% of the stock is owned by company insiders.
JPMorgan Chase & Co. 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 and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit card, payment processing, auto loan, and leasing services.
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