Plato Investment Management Ltd Raises Holdings in JPMorgan Chase & Co. $JPM

Plato Investment Management Ltd grew its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 2.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 58,554 shares of the financial services provider’s stock after acquiring an additional 1,391 shares during the period. JPMorgan Chase & Co. comprises approximately 1.3% of Plato Investment Management Ltd’s investment portfolio, making the stock its 10th biggest holding. Plato Investment Management Ltd’s holdings in JPMorgan Chase & Co. were worth $16,913,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the company. Harbor Asset Planning Inc. purchased a new stake in shares of JPMorgan Chase & Co. in the 2nd quarter worth $26,000. MJT & Associates Financial Advisory Group Inc. bought a new stake in shares of JPMorgan Chase & Co. in the first quarter valued at about $28,000. University of Illinois Foundation purchased a new stake in JPMorgan Chase & Co. in the first quarter worth about $30,000. Ryan Investment Management Inc. purchased a new stake in JPMorgan Chase & Co. in the second quarter worth about $37,000. Finally, Christopher J. Hasenberg Inc grew its holdings in JPMorgan Chase & Co. by 212.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 106 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on JPM shares. Daiwa Capital Markets boosted their price target on shares of JPMorgan Chase & Co. from $330.00 to $332.00 and gave the company an “outperform” rating in a report on Wednesday, October 8th. Cowen reissued a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, July 16th. Loop Capital set a $310.00 target price on JPMorgan Chase & Co. in a report on Thursday, October 23rd. Weiss Ratings cut JPMorgan Chase & Co. from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Friday. Finally, Keefe, Bruyette & Woods boosted their price target on JPMorgan Chase & Co. from $330.00 to $354.00 and gave the stock an “outperform” rating in a research report on Friday, October 10th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, nine have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $326.38.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock opened at $315.52 on Wednesday. JPMorgan Chase & Co. has a 12-month low of $202.16 and a 12-month high of $319.55. The business’s fifty day simple moving average is $306.81 and its 200-day simple moving average is $288.62. The company has a current ratio of 0.86, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. The company has a market cap of $858.92 billion, a PE ratio of 15.63, a PEG ratio of 1.84 and a beta of 1.14.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share for the quarter, topping analysts’ consensus estimates of $4.83 by $0.24. JPMorgan Chase & Co. had a return on equity of 17.18% and a net margin of 20.90%.The firm had revenue of $46.43 billion during the quarter, compared to analysts’ expectations of $44.42 billion. During the same quarter last year, the firm earned $4.37 EPS. The business’s quarterly revenue was up 8.8% on a year-over-year basis. Analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Monday, October 6th were paid a dividend of $1.50 per share. The ex-dividend date was Monday, October 6th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.9%. JPMorgan Chase & Co.’s payout ratio is presently 29.72%.

Insider Activity

In related news, Director Linda Bammann sold 9,500 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total value of $2,830,430.00. Following the completion of the transaction, the director directly owned 82,207 shares of the company’s stock, valued at $24,492,753.58. This trade represents a 10.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Robin Leopold sold 966 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $311.92, for a total transaction of $301,314.72. Following the completion of the sale, the insider owned 58,479 shares of the company’s stock, valued at $18,240,769.68. This trade represents a 1.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.47% of the company’s stock.

JPMorgan Chase & Co. Profile

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.