Pacer Advisors Inc. grew its stake in JPMorgan Chase & Co. (NYSE:JPM) by 50,906.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 255,540 shares of the financial services provider’s stock after buying an additional 255,039 shares during the period. Pacer Advisors Inc.’s holdings in JPMorgan Chase & Co. were worth $24,036,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. Capital World Investors lifted its position in shares of JPMorgan Chase & Co. by 9.9% during the 1st quarter. Capital World Investors now owns 91,033,221 shares of the financial services provider’s stock worth $8,195,754,000 after purchasing an additional 8,187,609 shares during the last quarter. Viking Global Investors LP acquired a new position in shares of JPMorgan Chase & Co. during the 1st quarter worth about $367,801,000. Franklin Resources Inc. lifted its position in shares of JPMorgan Chase & Co. by 16.8% during the 1st quarter. Franklin Resources Inc. now owns 17,879,346 shares of the financial services provider’s stock worth $1,609,696,000 after purchasing an additional 2,566,973 shares during the last quarter. Morgan Stanley lifted its position in shares of JPMorgan Chase & Co. by 6.4% during the 1st quarter. Morgan Stanley now owns 37,812,884 shares of the financial services provider’s stock worth $3,404,295,000 after purchasing an additional 2,262,845 shares during the last quarter. Finally, Two Sigma Advisers LP raised its holdings in JPMorgan Chase & Co. by 9,974.9% in the 1st quarter. Two Sigma Advisers LP now owns 2,125,800 shares of the financial services provider’s stock valued at $191,386,000 after acquiring an additional 2,104,700 shares in the last quarter. 71.35% of the stock is owned by institutional investors.
Several equities analysts have commented on JPM shares. Oppenheimer reaffirmed a “hold” rating on shares of JPMorgan Chase & Co. in a report on Tuesday, July 14th. Berenberg Bank upped their price target on JPMorgan Chase & Co. from $77.00 to $80.00 and gave the company a “sell” rating in a report on Monday, July 20th. TheStreet cut JPMorgan Chase & Co. from a “b-” rating to a “c” rating in a report on Monday, May 11th. UBS Group upped their price target on JPMorgan Chase & Co. from $82.00 to $96.00 and gave the company a “neutral” rating in a report on Monday, May 4th. Finally, Credit Suisse Group set a $122.00 price target on JPMorgan Chase & Co. and gave the company a “buy” rating in a report on Monday, May 18th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $110.89.
JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $1.38 EPS for the quarter, topping the Zacks’ consensus estimate of $1.34 by $0.04. The business had revenue of $32.98 billion for the quarter, compared to analyst estimates of $30.23 billion. JPMorgan Chase & Co. had a return on equity of 10.75% and a net margin of 18.16%. JPMorgan Chase & Co.’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same period in the prior year, the company earned $2.82 EPS. As a group, equities analysts expect that JPMorgan Chase & Co. will post 5.96 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Monday, July 6th were given a dividend of $0.90 per share. The ex-dividend date of this dividend was Thursday, July 2nd. This represents a $3.60 dividend on an annualized basis and a yield of 3.73%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 34.35%.
In other JPMorgan Chase & Co. news, CEO Mary E. Erdoes sold 24,554 shares of the stock in a transaction on Wednesday, July 15th. The stock was sold at an average price of $99.52, for a total value of $2,443,614.08. 0.78% of the stock is owned by corporate 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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