Avity Investment Management Inc. grew its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.9% in the first quarter, HoldingsChannel.com reports. The firm owned 262,873 shares of the financial services provider’s stock after purchasing an additional 4,907 shares during the period. JPMorgan Chase & Co. comprises about 3.1% of Avity Investment Management Inc.’s investment portfolio, making the stock its 16th largest holding. Avity Investment Management Inc.’s holdings in JPMorgan Chase & Co. were worth $35,835,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Lowe Wealth Advisors LLC increased its holdings in JPMorgan Chase & Co. by 230.0% during the 4th quarter. Lowe Wealth Advisors LLC now owns 165 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 115 shares in the last quarter. Joseph Group Capital Management bought a new stake in JPMorgan Chase & Co. during the 4th quarter worth approximately $1,353,000. Carolina Wealth Advisors LLC grew its holdings in shares of JPMorgan Chase & Co. by 176.5% in the fourth quarter. Carolina Wealth Advisors LLC now owns 235 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 150 shares in the last quarter. Evolution Advisers Inc. bought a new position in shares of JPMorgan Chase & Co. in the fourth quarter valued at approximately $52,000. Finally, Leverty Financial Group LLC bought a new position in shares of JPMorgan Chase & Co. in the fourth quarter valued at approximately $54,000. 70.35% of the stock is owned by hedge funds and other institutional investors.
In related news, CEO Jennifer Piepszak sold 4,668 shares of the stock in a transaction on Thursday, April 14th. The stock was sold at an average price of $126.19, for a total value of $589,054.92. Following the transaction, the chief executive officer now owns 11,135 shares of the company’s stock, valued at $1,405,125.65. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Ashley Bacon sold 21,012 shares of the stock in a transaction on Tuesday, April 19th. The shares were sold at an average price of $130.04, for a total value of $2,732,400.48. Following the completion of the transaction, the insider now directly owns 178,588 shares in the company, valued at approximately $23,223,583.52. The disclosure for this sale can be found here. 0.79% of the stock is owned by corporate insiders.
Several equities analysts have recently issued reports on JPM shares. StockNews.com started coverage on JPMorgan Chase & Co. in a report on Thursday, March 31st. They issued a “hold” rating for the company. Barclays set a $200.00 target price on JPMorgan Chase & Co. in a report on Thursday. The Goldman Sachs Group set a $151.00 price objective on JPMorgan Chase & Co. and gave the company a “buy” rating in a report on Thursday, April 14th. Societe Generale raised JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and increased their price objective for the company from $145.00 to $150.00 in a report on Tuesday, May 24th. Finally, Morgan Stanley reduced their price objective on JPMorgan Chase & Co. from $152.00 to $149.00 and set an “underweight” rating for the company in a report on Friday, June 24th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $159.33.
Shares of JPM stock opened at $114.05 on Friday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.82 and a current ratio of 0.82. JPMorgan Chase & Co. has a 52-week low of $110.93 and a 52-week high of $172.96. The company has a market capitalization of $334.97 billion, a PE ratio of 8.46, a price-to-earnings-growth ratio of 2.09 and a beta of 1.11. The business’s fifty day moving average is $121.46 and its 200 day moving average is $137.47.
JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last issued its quarterly earnings data on Wednesday, April 13th. The financial services provider reported $2.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.73 by ($0.10). JPMorgan Chase & Co. had a return on equity of 16.58% and a net margin of 33.61%. The business had revenue of $30.72 billion during the quarter, compared to analysts’ expectations of $30.53 billion. During the same quarter last year, the business posted $4.50 EPS. The company’s quarterly revenue was down 4.8% on a year-over-year basis. On average, sell-side analysts forecast that JPMorgan Chase & Co. will post 11.23 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Sunday, July 31st. Investors of record on Wednesday, July 6th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Tuesday, July 5th. This represents a $4.00 dividend on an annualized basis and a yield of 3.51%. JPMorgan Chase & Co.’s dividend payout ratio is presently 29.67%.
About JPMorgan Chase & Co. (Get Rating)
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 s deposit, investment and lending products, payments, 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, auto loan, and leasing services.
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Source: defenseworld.net
