Hartford Investment Management Co. decreased its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 6.7% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 292,150 shares of the financial services provider’s stock after selling 20,844 shares during the period. JPMorgan Chase & Co. comprises approximately 1.0% of Hartford Investment Management Co.’s investment portfolio, making the stock its 12th biggest holding. Hartford Investment Management Co.’s holdings in JPMorgan Chase & Co. were worth $39,826,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in the business. State Street Corp raised its stake in JPMorgan Chase & Co. by 1.6% in the fourth quarter. State Street Corp now owns 141,720,090 shares of the financial services provider’s stock valued at $22,441,376,000 after buying an additional 2,277,065 shares during the period. Geode Capital Management LLC increased its stake in shares of JPMorgan Chase & Co. by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 47,806,506 shares of the financial services provider’s stock worth $7,548,705,000 after purchasing an additional 687,571 shares during the period. Norges Bank bought a new position in shares of JPMorgan Chase & Co. during the fourth quarter worth approximately $4,092,843,000. Charles Schwab Investment Management Inc. increased its stake in shares of JPMorgan Chase & Co. by 1.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 17,802,465 shares of the financial services provider’s stock worth $2,819,021,000 after purchasing an additional 273,693 shares during the period. Finally, Parametric Portfolio Associates LLC increased its stake in shares of JPMorgan Chase & Co. by 1.4% during the fourth quarter. Parametric Portfolio Associates LLC now owns 11,276,722 shares of the financial services provider’s stock worth $1,785,669,000 after purchasing an additional 160,698 shares during the period. Hedge funds and other institutional investors own 70.35% of the company’s stock.
JPM has been the topic of a number of analyst reports. BMO Capital Markets increased their price target on JPMorgan Chase & Co. from $150.00 to $156.00 in a research report on Tuesday, May 24th. Barclays set a $200.00 price target on JPMorgan Chase & Co. in a research report on Thursday, June 30th. Societe Generale raised JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and raised their target price for the company from $145.00 to $150.00 in a report on Tuesday, May 24th. Berenberg Bank set a $120.00 target price on JPMorgan Chase & Co. in a report on Tuesday, April 19th. Finally, Morgan Stanley reduced their target price on JPMorgan Chase & Co. from $152.00 to $149.00 and set an “underweight” rating on the stock in a report on Friday, June 24th. One analyst has rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $159.33.
JPM stock opened at $112.62 on Wednesday. The company has a market capitalization of $330.77 billion, a P/E ratio of 8.35, a price-to-earnings-growth ratio of 2.03 and a beta of 1.15. 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 $109.30 and a 52-week high of $172.96. The business has a 50-day simple moving average of $120.99 and a two-hundred day simple moving average of $136.84.
JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last released its quarterly earnings results 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). The company had revenue of $30.72 billion for the quarter, compared to analyst estimates of $30.53 billion. JPMorgan Chase & Co. had a net margin of 33.61% and a return on equity of 16.58%. JPMorgan Chase & Co.’s revenue for the quarter was down 4.8% on a year-over-year basis. During the same quarter last year, the firm posted $4.50 EPS. As a group, sell-side analysts forecast that JPMorgan Chase & Co. will post 11.25 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, July 31st. Stockholders of record on Wednesday, July 6th will be paid a $1.00 dividend. The ex-dividend date is Tuesday, July 5th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.55%. JPMorgan Chase & Co.’s payout ratio is presently 29.67%.
In other JPMorgan Chase & Co. news, insider Ashley Bacon sold 21,012 shares of the business’s stock in a transaction on Tuesday, April 19th. The shares were sold at an average price of $130.04, for a total transaction of $2,732,400.48. Following the sale, the insider now owns 178,588 shares of the company’s stock, valued at approximately $23,223,583.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jennifer Piepszak sold 4,668 shares of the business’s stock in a transaction on Thursday, April 14th. The shares were sold at an average price of $126.19, for a total transaction of $589,054.92. Following the sale, the chief executive officer now directly owns 11,135 shares in the company, valued at approximately $1,405,125.65. The disclosure for this sale can be found here. Insiders own 0.79% of the company’s stock.
JPMorgan Chase & Co. Company Profile (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.
See Also
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Source: defenseworld.net
