Whitener Capital Management Inc. reduced its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 1.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 79,357 shares of the financial services provider’s stock after selling 1,363 shares during the period. JPMorgan Chase & Co. comprises about 4.3% of Whitener Capital Management Inc.’s holdings, making the stock its 4th largest holding. Whitener Capital Management Inc.’s holdings in JPMorgan Chase & Co. were worth $10,341,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in JPM. Moneta Group Investment Advisors LLC increased its holdings in shares of JPMorgan Chase & Co. by 105,652.2% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 98,000,567 shares of the financial services provider’s stock valued at $13,141,876,000 after acquiring an additional 97,907,897 shares during the last quarter. Norges Bank acquired a new stake in JPMorgan Chase & Co. in the 4th quarter valued at approximately $3,894,646,000. Price T Rowe Associates Inc. MD grew its holdings in JPMorgan Chase & Co. by 71.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 30,484,094 shares of the financial services provider’s stock valued at $4,087,917,000 after buying an additional 12,654,947 shares during the last quarter. Morgan Stanley grew its holdings in JPMorgan Chase & Co. by 15.9% in the 4th quarter. Morgan Stanley now owns 59,049,256 shares of the financial services provider’s stock valued at $7,918,506,000 after buying an additional 8,088,433 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board acquired a new stake in JPMorgan Chase & Co. in the 4th quarter valued at approximately $556,791,000. 70.10% of the stock is owned by hedge funds and other institutional investors.
JPMorgan Chase & Co. Trading Down 0.5 %
Shares of JPM opened at $138.85 on Friday. The stock has a fifty day moving average price of $138.71 and a two-hundred day moving average price of $136.50. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.85. JPMorgan Chase & Co. has a 52-week low of $101.28 and a 52-week high of $144.34. The company has a market cap of $405.76 billion, a price-to-earnings ratio of 10.25, a PEG ratio of 2.00 and a beta of 1.10.
JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last released its earnings results on Friday, April 14th. The financial services provider reported $4.10 EPS for the quarter, beating the consensus estimate of $3.41 by $0.69. The company had revenue of $38.35 billion during the quarter, compared to analysts’ expectations of $35.77 billion. JPMorgan Chase & Co. had a return on equity of 16.02% and a net margin of 23.73%. The business’s revenue for the quarter was up 24.8% on a year-over-year basis. During the same period last year, the firm earned $2.63 EPS. Analysts predict that JPMorgan Chase & Co. will post 14.35 EPS for the current fiscal year.
JPMorgan Chase & Co. Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, July 31st. Stockholders of record on Thursday, July 6th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Wednesday, July 5th. This represents a $4.00 annualized dividend and a dividend yield of 2.88%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 29.52%.
Insider Activity
In other news, Vice Chairman Peter Scher sold 2,482 shares of JPMorgan Chase & Co. stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $141.39, for a total value of $350,929.98. Following the completion of the sale, the insider now directly owns 41,333 shares of the company’s stock, valued at approximately $5,844,072.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Vice Chairman Peter Scher sold 2,482 shares of JPMorgan Chase & Co. stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $141.39, for a total transaction of $350,929.98. Following the completion of the sale, the insider now directly owns 41,333 shares of the company’s stock, valued at $5,844,072.87. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Daniel E. Pinto sold 113,640 shares of JPMorgan Chase & Co. stock in a transaction on Thursday, May 11th. The stock was sold at an average price of $135.93, for a total value of $15,447,085.20. Following the sale, the chief executive officer now directly owns 566,665 shares of the company’s stock, valued at $77,026,773.45. The disclosure for this sale can be found here. In the last ninety days, insiders sold 145,861 shares of company stock valued at $19,858,275. Company insiders own 0.79% of the company’s stock.
Analyst Ratings Changes
A number of analysts have commented on the company. Jefferies Financial Group reduced their price objective on JPMorgan Chase & Co. from $152.00 to $149.00 in a research report on Monday, May 15th. The Goldman Sachs Group raised their price objective on JPMorgan Chase & Co. from $160.00 to $172.00 in a research report on Friday, April 14th. Evercore ISI reduced their price objective on JPMorgan Chase & Co. from $155.00 to $151.00 in a research report on Friday, May 12th. BMO Capital Markets raised their price objective on JPMorgan Chase & Co. from $169.00 to $170.00 in a research report on Tuesday, May 2nd. Finally, Wells Fargo & Company raised their price objective on JPMorgan Chase & Co. from $155.00 to $165.00 and gave the stock an “overweight” rating in a research report on Monday, April 17th. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $157.65.
JPMorgan Chase & Co. Company 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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