Ascension Asset Management LLC bought a new stake in JPMorgan Chase & Co. (NYSE:JPM – Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 8,804 shares of the financial services provider’s stock, valued at approximately $1,280,000.
Several other institutional investors and hedge funds have also modified their holdings of JPM. Nordwand Advisors LLC acquired a new stake in JPMorgan Chase & Co. in the 1st quarter valued at about $30,000. Sageworth Trust Co lifted its position in shares of JPMorgan Chase & Co. by 266.7% during the first quarter. Sageworth Trust Co now owns 407 shares of the financial services provider’s stock worth $53,000 after purchasing an additional 296 shares in the last quarter. Robbins Farley grew its stake in shares of JPMorgan Chase & Co. by 54.2% during the first quarter. Robbins Farley now owns 475 shares of the financial services provider’s stock valued at $62,000 after purchasing an additional 167 shares during the last quarter. Miller Wealth Advisors LLC acquired a new stake in shares of JPMorgan Chase & Co. in the second quarter valued at approximately $67,000. Finally, Guardian Wealth Advisors LLC bought a new position in JPMorgan Chase & Co. in the 1st quarter worth approximately $70,000. 68.94% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research analysts have commented on the company. BMO Capital Markets increased their price objective on JPMorgan Chase & Co. from $167.00 to $171.00 and gave the company a “market perform” rating in a research report on Monday, October 16th. StockNews.com initiated coverage on JPMorgan Chase & Co. in a research report on Thursday, October 5th. They issued a “hold” rating for the company. HSBC began coverage on shares of JPMorgan Chase & Co. in a research report on Thursday, September 7th. They set a “hold” rating and a $159.00 target price on the stock. Jefferies Financial Group lowered their price target on shares of JPMorgan Chase & Co. from $176.00 to $169.00 in a research report on Tuesday, October 10th. Finally, Atlantic Securities increased their price objective on shares of JPMorgan Chase & Co. from $150.00 to $160.00 and gave the company a “neutral” rating in a report on Tuesday, August 1st. Nine research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $168.80.
Insider Buying and Selling at JPMorgan Chase & Co.
In other news, General Counsel Stacey Friedman sold 4,310 shares of the firm’s stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $144.86, for a total value of $624,346.60. Following the completion of the transaction, the general counsel now owns 53,425 shares in the company, valued at approximately $7,739,145.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.79% of the company’s stock.
JPMorgan Chase & Co. Stock Up 0.3 %
Shares of JPM stock opened at $153.29 on Tuesday. The company has a market capitalization of $443.16 billion, a price-to-earnings ratio of 9.15, a P/E/G ratio of 1.80 and a beta of 1.12. JPMorgan Chase & Co. has a 12-month low of $123.11 and a 12-month high of $159.38. The firm has a fifty day moving average of $145.23 and a 200-day moving average of $145.34. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.25.
JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last posted its quarterly earnings data 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. JPMorgan Chase & Co. had a return on equity of 17.97% and a net margin of 22.79%. The company had revenue of $40.69 billion during the quarter, compared to analysts’ expectations of $39.63 billion. During the same period in the prior year, the firm earned $3.12 earnings per share. JPMorgan Chase & Co.’s revenue for the quarter was up 24.4% compared to the same quarter last year. As a group, equities research analysts predict that JPMorgan Chase & Co. will post 16.67 earnings per share for the current fiscal year.
JPMorgan Chase & Co. Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 31st. Investors of record on Friday, October 6th were given a $1.05 dividend. The ex-dividend date was Thursday, October 5th. This represents a $4.20 dividend on an annualized basis and a yield of 2.74%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.00. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 25.07%.
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, 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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