Aberdeen Group plc Has $709.93 Million Stock Holdings in JPMorgan Chase & Co. $JPM

Key Points

• Aberdeen Group plc increased its stake in JPMorgan Chase & Co. by 3.7%, owning 2,431,568 shares valued at approximately $709.93 million, making it the 10th largest position in their portfolio.
• The company recently reported strong quarterly earnings, with EPS of $5.07 exceeding expectations of $4.83, and revenue also rising by 8.8% year-over-year.
• JPMorgan Chase & Co. announced a new quarterly dividend of $1.50 per share, up from the previous $1.40, with a dividend yield of 2.0%.

Aberdeen Group plc boosted its stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 3.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,431,568 shares of the financial services provider's stock after purchasing an additional 87,085 shares during the quarter. JPMorgan Chase & Co. accounts for approximately 1.2% of Aberdeen Group plc's holdings, making the stock its 10th biggest position. Aberdeen Group plc owned 0.09% of JPMorgan Chase & Co. worth $709,933,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Florida Financial Advisors LLC raised its stake in JPMorgan Chase & Co. by 62.5% during the 1st quarter. Florida Financial Advisors LLC now owns 9,863 shares of the financial services provider's stock valued at $2,416,000 after purchasing an additional 3,792 shares during the last quarter. Crown Wealth Group LLC raised its stake in JPMorgan Chase & Co. by 5.4% during the 1st quarter. Crown Wealth Group LLC now owns 4,320 shares of the financial services provider's stock valued at $1,060,000 after purchasing an additional 222 shares during the last quarter. Mosaic Financial Group LLC raised its stake in JPMorgan Chase & Co. by 0.8% during the 1st quarter. Mosaic Financial Group LLC now owns 9,296 shares of the financial services provider's stock valued at $2,280,000 after purchasing an additional 78 shares during the last quarter. Morse Asset Management Inc raised its stake in JPMorgan Chase & Co. by 19.5% during the 1st quarter. Morse Asset Management Inc now owns 2,569 shares of the financial services provider's stock valued at $630,000 after purchasing an additional 420 shares during the last quarter. Finally, Hidden Cove Wealth Management LLC raised its stake in JPMorgan Chase & Co. by 4.2% during the 1st quarter. Hidden Cove Wealth Management LLC now owns 2,758 shares of the financial services provider's stock valued at $677,000 after purchasing an additional 112 shares during the last quarter. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

JPM has been the subject of a number of recent research reports. UBS Group increased their price objective on shares of JPMorgan Chase & Co. from $339.00 to $350.00 and gave the company a "buy" rating in a research note on Tuesday, October 7th. Cowen restated a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, July 16th. Wolfe Research increased their price objective on shares of JPMorgan Chase & Co. from $342.00 to $346.00 and gave the company an "outperform" rating in a research note on Thursday. The Goldman Sachs Group restated a "buy" rating and issued a $366.00 price objective on shares of JPMorgan Chase & Co. in a research note on Tuesday, October 14th. Finally, Zacks Research cut shares of JPMorgan Chase & Co. from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 8th. Fifteen research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, JPMorgan Chase & Co. presently has an average rating of "Hold" and an average target price of $322.86.

JPMorgan Chase & Co. Trading Down 0.2%

Shares of JPMorgan Chase & Co. stock opened at $297.81 on Monday. The stock has a market capitalization of $818.91 billion, a P/E ratio of 14.75, a price-to-earnings-growth ratio of 1.80 and a beta of 1.13. The company has a quick ratio of 0.88, a current ratio of 0.86 and a debt-to-equity ratio of 1.26. The company has a 50-day simple moving average of $302.82 and a 200 day simple moving average of $279.12. JPMorgan Chase & Co. has a 12-month low of $202.16 and a 12-month high of $318.01.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its earnings results on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.83 by $0.24. The business had revenue of $46.43 billion during the quarter, compared to analysts' expectations of $44.42 billion. JPMorgan Chase & Co. had a net margin of 20.90% and a return on equity of 17.18%. The firm's revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter last year, the company posted $4.37 EPS. Research analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, October 6th will be given a dividend of $1.50 per share. This is an increase from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. The ex-dividend date is Monday, October 6th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.0%. JPMorgan Chase & Co.'s dividend payout ratio is 29.72%.

Insider Activity

In related news, Director Linda Bammann sold 9,500 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the completion of the sale, the director owned 82,207 shares in the company, valued at $24,492,753.58. This trade represents a 10.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.47% of the stock is owned by company insiders.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.

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