SCS Capital Management LLC Raises Stock Holdings in JPMorgan Chase & Co. $JPM

SCS Capital Management LLC raised its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 123.5% in the second quarter, Holdings Channel.com reports. The firm owned 132,831 shares of the financial services provider’s stock after buying an additional 73,394 shares during the period. SCS Capital Management LLC’s holdings in JPMorgan Chase & Co. were worth $38,509,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Harbor Asset Planning Inc. acquired a new stake in JPMorgan Chase & Co. in the second quarter valued at $26,000. Mizuho Securities Co. Ltd. increased its position in shares of JPMorgan Chase & Co. by 450.0% in the 2nd quarter. Mizuho Securities Co. Ltd. now owns 110 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 90 shares during the last quarter. University of Illinois Foundation acquired a new stake in shares of JPMorgan Chase & Co. in the 1st quarter valued at about $30,000. Ryan Investment Management Inc. bought a new position in shares of JPMorgan Chase & Co. during the second quarter worth about $37,000. Finally, Christopher J. Hasenberg Inc lifted its position in shares of JPMorgan Chase & Co. by 212.0% during the second quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 106 shares during the last quarter. 71.55% of the stock is owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Price Performance

Shares of NYSE JPM opened at $315.20 on Monday. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a market capitalization of $858.06 billion, a PE ratio of 15.61, a P/E/G ratio of 1.63 and a beta of 1.08. JPMorgan Chase & Co. has a 1-year low of $202.16 and a 1-year high of $322.25. The business’s fifty day moving average price is $306.73 and its two-hundred day moving average price is $295.09.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.83 by $0.24. JPMorgan Chase & Co. had a net margin of 20.90% and a return on equity of 17.18%. The company had revenue of $47.12 billion during the quarter, compared to the consensus estimate of $44.42 billion. During the same quarter in the previous year, the company posted $4.37 earnings per share. The company’s revenue for the quarter was up 8.8% compared to the same quarter last year. On average, research analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Monday, October 6th were given a $1.50 dividend. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. The ex-dividend date was Monday, October 6th. This represents a $6.00 annualized dividend and a yield of 1.9%. JPMorgan Chase & Co.’s payout ratio is currently 29.72%.

Analysts Set New Price Targets

Several brokerages have issued reports on JPM. Keefe, Bruyette & Woods upped their price objective on JPMorgan Chase & Co. from $330.00 to $354.00 and gave the company an “outperform” rating in a research note on Friday, October 10th. KGI Securities upped their price target on JPMorgan Chase & Co. from $300.00 to $315.00 and gave the company a “hold” rating in a research report on Wednesday, October 15th. Zacks Research cut JPMorgan Chase & Co. from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 18th. Citigroup boosted their target price on shares of JPMorgan Chase & Co. from $275.00 to $325.00 and gave the company a “neutral” rating in a research note on Wednesday, September 24th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of JPMorgan Chase & Co. from $300.00 to $320.00 and gave the stock a “hold” rating in a report on Tuesday, September 30th. Fifteen research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, JPMorgan Chase & Co. has an average rating of “Hold” and an average target price of $325.81.

Insider Activity at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, insider Robin Leopold sold 966 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $311.92, for a total value of $301,314.72. Following the sale, the insider owned 58,479 shares in the company, valued at approximately $18,240,769.68. This trade represents a 1.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.47% of the company’s stock.

About JPMorgan Chase & Co.

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.