IndexIQ Advisors LLC Invests $1.90 Million in JPMorgan Chase & Co. (NYSE:JPM)

IndexIQ Advisors LLC purchased a new position in JPMorgan Chase & Co. (NYSE:JPM) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 21,120 shares of the financial services provider’s stock, valued at approximately $1,901,000.

A number of other hedge funds also recently bought and sold shares of JPM. Carnegie Capital Asset Management LLC grew its position in JPMorgan Chase & Co. by 3.5% during the 4th quarter. Carnegie Capital Asset Management LLC now owns 272,305 shares of the financial services provider’s stock valued at $37,959,000 after purchasing an additional 9,105 shares during the last quarter. FSA Wealth Management LLC bought a new position in shares of JPMorgan Chase & Co. in the fourth quarter worth approximately $299,000. Northstar Wealth Partners LLC lifted its stake in shares of JPMorgan Chase & Co. by 15.1% in the fourth quarter. Northstar Wealth Partners LLC now owns 16,470 shares of the financial services provider’s stock worth $1,960,000 after buying an additional 2,162 shares in the last quarter. Day & Ennis LLC grew its holdings in shares of JPMorgan Chase & Co. by 2.9% during the fourth quarter. Day & Ennis LLC now owns 3,542 shares of the financial services provider’s stock valued at $494,000 after buying an additional 101 shares during the last quarter. Finally, Dohj LLC bought a new stake in shares of JPMorgan Chase & Co. during the fourth quarter valued at approximately $1,771,000. 73.01% of the stock is owned by institutional investors.

JPM stock opened at $89.47 on Friday. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.89 and a quick ratio of 0.89. JPMorgan Chase & Co. has a 1-year low of $76.91 and a 1-year high of $141.10. The business has a 50 day simple moving average of $91.61 and a two-hundred day simple moving average of $118.08. The company has a market capitalization of $274.75 billion, a price-to-earnings ratio of 10.11, a PEG ratio of 3.51 and a beta of 1.20.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Tuesday, April 14th. The financial services provider reported $0.78 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.70 by ($1.92). The company had revenue of $28.25 billion for the quarter, compared to the consensus estimate of $29.45 billion. JPMorgan Chase & Co. had a return on equity of 12.52% and a net margin of 21.61%. JPMorgan Chase & Co.’s revenue was down 3.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.65 EPS. Sell-side analysts anticipate that JPMorgan Chase & Co. will post 5.13 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Monday, July 6th will be given a $0.90 dividend. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $3.60 dividend on an annualized basis and a dividend yield of 4.02%. JPMorgan Chase & Co.’s dividend payout ratio is currently 34.35%.

In other JPMorgan Chase & Co. news, Director Stephen B. Burke acquired 75,000 shares of the stock in a transaction on Thursday, April 16th. The stock was acquired at an average price of $87.99 per share, for a total transaction of $6,599,250.00. Following the completion of the transaction, the director now directly owns 150,043 shares of the company’s stock, valued at $13,202,283.57. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ashley Bacon sold 13,027 shares of JPMorgan Chase & Co. stock in a transaction on 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 of the company’s stock, valued at $12,505,582.16. The disclosure for this sale can be found here. 0.78% of the stock is currently owned by corporate insiders.

Several equities analysts recently issued reports on the company. Royal Bank of Canada set a $99.00 price objective on JPMorgan Chase & Co. and gave the company a “buy” rating in a research report on Tuesday, April 14th. DZ Bank raised JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and set a $100.00 price target on the stock in a report on Friday, March 20th. DA Davidson lifted their price objective on JPMorgan Chase & Co. from $91.00 to $97.00 and gave the stock a “neutral” rating in a report on Wednesday, April 15th. Wells Fargo & Co decreased their target price on JPMorgan Chase & Co. from $140.00 to $125.00 and set an “overweight” rating for the company in a research report on Wednesday, April 1st. Finally, Morgan Stanley lowered their target price on shares of JPMorgan Chase & Co. from $109.00 to $101.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 15th. Ten equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $109.75.

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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Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

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