Salem Investment Counselors Inc. grew its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 231,388 shares of the financial services provider’s stock after acquiring an additional 4,402 shares during the period. JPMorgan Chase & Co. accounts for approximately 1.5% of Salem Investment Counselors Inc.’s investment portfolio, making the stock its 12th biggest holding. Salem Investment Counselors Inc.’s holdings in JPMorgan Chase & Co. were worth $46,347,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of JPM. Stone House Investment Management LLC raised its holdings in shares of JPMorgan Chase & Co. by 132.8% in the fourth quarter. Stone House Investment Management LLC now owns 156 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 89 shares during the last quarter. Bare Financial Services Inc bought a new position in JPMorgan Chase & Co. during the fourth quarter valued at about $35,000. Partnership Wealth Management LLC bought a new position in JPMorgan Chase & Co. during the fourth quarter valued at about $36,000. Stuart Chaussee & Associates Inc. bought a new position in JPMorgan Chase & Co. during the fourth quarter valued at about $40,000. Finally, Vermillion & White Wealth Management Group LLC bought a new position in JPMorgan Chase & Co. during the fourth quarter valued at about $40,000. Institutional investors own 71.55% of the company’s stock.
JPMorgan Chase & Co. Trading Down 1.2 %
Shares of JPM opened at $196.30 on Monday. The firm’s 50 day simple moving average is $195.20 and its 200 day simple moving average is $184.87. The company has a market capitalization of $563.71 billion, a P/E ratio of 11.85, a P/E/G ratio of 2.67 and a beta of 1.12. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.92 and a quick ratio of 0.92. JPMorgan Chase & Co. has a 1-year low of $135.19 and a 1-year high of $205.88.
JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last announced its earnings results on Friday, April 12th. The financial services provider reported $4.63 earnings per share for the quarter, beating analysts’ consensus estimates of $4.18 by $0.45. The business had revenue of $41.93 billion for the quarter, compared to the consensus estimate of $40.90 billion. JPMorgan Chase & Co. had a net margin of 20.05% and a return on equity of 17.79%. Sell-side analysts forecast that JPMorgan Chase & Co. will post 16.41 earnings per share for the current fiscal year.
JPMorgan Chase & Co. Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, July 5th will be paid a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 2.34%. The ex-dividend date of this dividend is Friday, July 5th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 27.78%.
Insiders Place Their Bets
In other JPMorgan Chase & Co. news, insider Ashley Bacon sold 5,086 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $199.54, for a total transaction of $1,014,860.44. Following the transaction, the insider now directly owns 212,265 shares of the company’s stock, valued at $42,355,358.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO James Dimon sold 178,222 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $184.18, for a total value of $32,824,927.96. Following the transaction, the chief executive officer now owns 264,461 shares in the company, valued at $48,708,426.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ashley Bacon sold 5,086 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $199.54, for a total transaction of $1,014,860.44. Following the completion of the transaction, the insider now owns 212,265 shares in the company, valued at approximately $42,355,358.10. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 250,565 shares of company stock valued at $46,962,717. 0.79% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
Several equities analysts recently weighed in on the stock. BMO Capital Markets reduced their price target on shares of JPMorgan Chase & Co. from $196.00 to $195.00 and set a “market perform” rating for the company in a research report on Monday, April 15th. UBS Group increased their target price on shares of JPMorgan Chase & Co. from $219.00 to $224.00 and gave the stock a “buy” rating in a research report on Tuesday, May 21st. Jefferies Financial Group increased their target price on shares of JPMorgan Chase & Co. from $202.00 to $228.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Royal Bank of Canada reiterated an “outperform” rating and set a $211.00 target price on shares of JPMorgan Chase & Co. in a research report on Tuesday, May 21st. Finally, Keefe, Bruyette & Woods increased their target price on shares of JPMorgan Chase & Co. from $203.00 to $209.00 and gave the stock a “market perform” rating in a research report on Tuesday, May 21st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $194.10.
View Our Latest Report on JPMorgan Chase & Co.
JPMorgan Chase & Co. 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; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.
See Also
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Source: defenseworld.net
