IPG Investment Advisors LLC trimmed its stake in JPMorgan Chase & Co. (NYSE:JPM – Get Rating) by 64.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,512 shares of the financial services provider’s stock after selling 6,473 shares during the quarter. IPG Investment Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $367,000 at the end of the most recent quarter.
→ There’s A Reason People Are Skeptical About The Groundhog… (From Base Camp Trading)
Several other institutional investors have also recently added to or reduced their stakes in the business. Homestead Advisers Corp lifted its holdings in shares of JPMorgan Chase & Co. by 1.0% during the 2nd quarter. Homestead Advisers Corp now owns 1,165,236 shares of the financial services provider’s stock worth $131,217,000 after acquiring an additional 11,000 shares during the period. Total Clarity Wealth Management Inc. lifted its holdings in shares of JPMorgan Chase & Co. by 3.7% during the 2nd quarter. Total Clarity Wealth Management Inc. now owns 11,430 shares of the financial services provider’s stock worth $1,287,000 after acquiring an additional 407 shares during the period. Aptus Capital Advisors LLC lifted its holdings in shares of JPMorgan Chase & Co. by 11.3% during the 3rd quarter. Aptus Capital Advisors LLC now owns 153,622 shares of the financial services provider’s stock worth $16,054,000 after acquiring an additional 15,607 shares during the period. Leisure Capital Management lifted its holdings in shares of JPMorgan Chase & Co. by 2.7% during the 3rd quarter. Leisure Capital Management now owns 22,736 shares of the financial services provider’s stock worth $2,376,000 after acquiring an additional 600 shares during the period. Finally, Handelsbanken Fonder AB raised its holdings in JPMorgan Chase & Co. by 2.0% in the second quarter. Handelsbanken Fonder AB now owns 621,950 shares of the financial services provider’s stock valued at $70,038,000 after buying an additional 12,411 shares during the period. 67.89% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research analysts recently commented on the stock. UBS Group set a $156.00 price target on shares of JPMorgan Chase & Co. in a report on Friday, January 13th. Morgan Stanley raised their price target on shares of JPMorgan Chase & Co. from $153.00 to $167.00 and gave the company an “overweight” rating in a report on Tuesday, January 17th. Oppenheimer raised their price target on shares of JPMorgan Chase & Co. from $177.00 to $186.00 and gave the company an “outperform” rating in a report on Thursday, February 2nd. Royal Bank of Canada set a $130.00 price target on shares of JPMorgan Chase & Co. in a report on Friday, January 13th. Finally, Barclays raised their price target on shares of JPMorgan Chase & Co. from $162.00 to $189.00 and gave the company an “overweight” rating in a report on Tuesday, January 3rd. Seven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, JPMorgan Chase & Co. has an average rating of “Moderate Buy” and a consensus price target of $148.39.
JPMorgan Chase & Co. Price Performance
NYSE:JPM traded down $1.24 during mid-day trading on Thursday, reaching $142.56. 2,650,153 shares of the stock were exchanged, compared to its average volume of 9,580,120. The business has a fifty day moving average price of $136.88 and a 200 day moving average price of $126.14. The firm has a market capitalization of $418.16 billion, a PE ratio of 11.81, a PEG ratio of 2.23 and a beta of 1.12. JPMorgan Chase & Co. has a 1-year low of $101.28 and a 1-year high of $154.14. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.12.
JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last released its earnings results on Friday, January 13th. The financial services provider reported $3.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.11 by $0.46. The firm had revenue of $34.55 billion for the quarter, compared to analyst estimates of $34.23 billion. JPMorgan Chase & Co. had a return on equity of 14.68% and a net margin of 24.34%. JPMorgan Chase & Co.’s revenue was up 18.1% compared to the same quarter last year. During the same period in the previous year, the company earned $3.33 earnings per share. Research analysts expect that JPMorgan Chase & Co. will post 12.86 earnings per share for the current fiscal year.
JPMorgan Chase & Co. Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, January 31st. Investors of record on Friday, January 6th were paid a $1.00 dividend. The ex-dividend date of this dividend was Thursday, January 5th. This represents a $4.00 dividend on an annualized basis and a yield of 2.81%. JPMorgan Chase & Co.’s dividend payout ratio is currently 33.11%.
Insider Buying and Selling
In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 23,148 shares of JPMorgan Chase & Co. stock in a transaction dated Tuesday, January 17th. The stock was sold at an average price of $140.31, for a total transaction of $3,247,895.88. Following the transaction, the general counsel now owns 48,311 shares of the company’s stock, valued at approximately $6,778,516.41. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other JPMorgan Chase & Co. news, Vice Chairman Peter Scher sold 4,399 shares of JPMorgan Chase & Co. stock in a transaction dated Tuesday, January 17th. The stock was sold at an average price of $140.32, for a total transaction of $617,267.68. Following the transaction, the insider now owns 36,369 shares of the company’s stock, valued at approximately $5,103,298.08. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Stacey Friedman sold 23,148 shares of JPMorgan Chase & Co. stock in a transaction dated Tuesday, January 17th. The shares were sold at an average price of $140.31, for a total value of $3,247,895.88. Following the transaction, the general counsel now directly owns 48,311 shares in the company, valued at approximately $6,778,516.41. The disclosure for this sale can be found here. In the last quarter, insiders have sold 37,887 shares of company stock valued at $5,315,762. 0.79% of the stock is owned by corporate insiders.
JPMorgan Chase & Co. Company Profile
JPMorgan Chase & Co is a financial holding company. It provides financial and investment banking services. The firm offers a range of investment banking products and services in all capital markets, including advising on corporate strategy and structure, capital raising in equity and debt markets, risk management, market making in cash securities and derivative instruments, and brokerage and research.
Further Reading
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider JPMorgan Chase & Co., you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and JPMorgan Chase & Co. wasn’t on the list.
While JPMorgan Chase & Co. currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
Source: marketbeat.com
