Checchi Capital Advisers LLC lifted its stake in JPMorgan Chase & Co. (NYSE:JPM) by 4.4% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 39,447 shares of the financial services provider’s stock after purchasing an additional 1,652 shares during the period. Checchi Capital Advisers LLC’s holdings in JPMorgan Chase & Co. were worth $5,737,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in JPM. Cantor Fitzgerald Investment Advisor L.P lifted its holdings in JPMorgan Chase & Co. by 81.1% during the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 222,422 shares of the financial services provider’s stock worth $30,321,000 after acquiring an additional 99,636 shares in the last quarter. BCK Partners Inc. bought a new position in JPMorgan Chase & Co. during the first quarter worth about $2,455,000. LSV Asset Management lifted its holdings in JPMorgan Chase & Co. by 35.6% during the first quarter. LSV Asset Management now owns 37,300 shares of the financial services provider’s stock worth $5,085,000 after acquiring an additional 9,800 shares in the last quarter. Wsfs Capital Management LLC lifted its holdings in JPMorgan Chase & Co. by 70.8% during the first quarter. Wsfs Capital Management LLC now owns 4,221 shares of the financial services provider’s stock worth $575,000 after acquiring an additional 1,749 shares in the last quarter. Finally, Lumature Wealth Partners LLC raised its stake in shares of JPMorgan Chase & Co. by 1,451.4% in the 1st quarter. Lumature Wealth Partners LLC now owns 3,770 shares of the financial services provider’s stock valued at $514,000 after purchasing an additional 3,527 shares during the period. 68.94% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several analysts have issued reports on JPM shares. HSBC started coverage on JPMorgan Chase & Co. in a research note on Thursday, September 7th. They issued a “hold” rating and a $159.00 price target on the stock. Atlantic Securities lifted their price target on JPMorgan Chase & Co. from $150.00 to $160.00 and gave the company a “neutral” rating in a research note on Tuesday, August 1st. StockNews.com started coverage on JPMorgan Chase & Co. in a research note on Thursday, October 5th. They issued a “hold” rating on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $158.00 price target on shares of JPMorgan Chase & Co. in a research note on Friday, September 8th. Finally, Evercore ISI lifted their price target on JPMorgan Chase & Co. from $158.00 to $167.00 in a research note on Thursday, October 5th. Nine investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $168.80.
Insider Transactions at JPMorgan Chase & Co.
In other news, General Counsel Stacey Friedman sold 4,310 shares of the company’s stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $144.86, for a total transaction of $624,346.60. Following the completion of the transaction, the general counsel now directly owns 53,425 shares in the company, valued at $7,739,145.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.79% of the company’s stock.
JPMorgan Chase & Co. Stock Up 0.9 %
NYSE JPM opened at $152.82 on Monday. The business has a fifty day moving average price of $145.05 and a two-hundred day moving average price of $145.20. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.90 and a quick ratio of 0.90. JPMorgan Chase & Co. has a fifty-two week low of $123.11 and a fifty-two week high of $159.38. The stock has a market capitalization of $441.80 billion, a PE ratio of 9.12, a PEG ratio of 1.80 and a beta of 1.12.
JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last released its earnings results on Friday, October 13th. The financial services provider reported $4.33 earnings per share for the quarter, topping the consensus estimate of $3.95 by $0.38. The firm had revenue of $40.69 billion during the quarter, compared to analysts’ expectations of $39.63 billion. JPMorgan Chase & Co. had a return on equity of 17.97% and a net margin of 22.79%. The company’s quarterly revenue was up 24.4% on a year-over-year basis. During the same period in the prior year, the company earned $3.12 earnings per share. Equities analysts expect that JPMorgan Chase & Co. will post 16.67 earnings per share for the current fiscal year.
JPMorgan Chase & Co. Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, October 31st. Stockholders of record on Friday, October 6th were issued a dividend of $1.05 per share. The ex-dividend date of this dividend was Thursday, October 5th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.00. This represents a $4.20 annualized dividend and a dividend yield of 2.75%. JPMorgan Chase & Co.’s dividend payout ratio is 25.07%.
JPMorgan Chase & Co. Company 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, investment and lending products, cash management, and payments and services to consumers and small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services.
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