Bank of Nova Scotia Has $322.38 Million Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Key Points

• Bank of Nova Scotia has reduced its stake in JPMorgan Chase & Co. by 25.1%, now holding 1,314,234 shares worth approximately $322.38 million, making it the bank's 25th largest position.
• JPMorgan's stock price increased by 0.6% to $288.55, with a market capitalization of $793.44 billion and a 12-month high of $301.29.
• The company recently announced a quarterly dividend of $1.40 per share, translating to a 1.9% dividend yield, with a payout ratio currently at 28.73%.

Bank of Nova Scotia trimmed its position in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 25.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,314,234 shares of the financial services provider's stock after selling 439,723 shares during the period. JPMorgan Chase & Co. accounts for approximately 0.8% of Bank of Nova Scotia's holdings, making the stock its 25th biggest position. Bank of Nova Scotia's holdings in JPMorgan Chase & Co. were worth $322,377,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC lifted its stake in shares of JPMorgan Chase & Co. by 25,861.9% in the 1st quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider's stock worth $5,778,289,000 after acquiring an additional 23,465,278 shares during the period. Northern Trust Corp lifted its stake in shares of JPMorgan Chase & Co. by 15.4% in the 4th quarter. Northern Trust Corp now owns 33,845,676 shares of the financial services provider's stock worth $8,113,147,000 after acquiring an additional 4,515,147 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in shares of JPMorgan Chase & Co. by 31.4% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 10,684,810 shares of the financial services provider's stock worth $2,561,256,000 after acquiring an additional 2,551,899 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of JPMorgan Chase & Co. by 16.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 17,550,491 shares of the financial services provider's stock worth $4,207,028,000 after acquiring an additional 2,465,572 shares during the period. Finally, Capital Research Global Investors lifted its stake in shares of JPMorgan Chase & Co. by 9.1% in the 4th quarter. Capital Research Global Investors now owns 22,841,033 shares of the financial services provider's stock worth $5,475,223,000 after acquiring an additional 1,914,049 shares during the period. 71.55% of the stock is owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Stock Up 0.6%

JPM stock traded up $1.61 during trading hours on Friday, hitting $288.55. The company's stock had a trading volume of 6,633,369 shares, compared to its average volume of 8,541,502. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.25. The company has a market capitalization of $793.44 billion, a PE ratio of 14.81, a price-to-earnings-growth ratio of 1.91 and a beta of 1.11. JPMorgan Chase & Co. has a 12 month low of $200.61 and a 12 month high of $301.29. The stock has a 50 day moving average price of $283.74 and a two-hundred day moving average price of $262.70.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, topping the consensus estimate of $4.48 by $0.48. The company had revenue of $44.91 billion during the quarter, compared to the consensus estimate of $43.76 billion. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The company's revenue for the quarter was down 10.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $6.12 earnings per share. On average, equities research analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Thursday, July 3rd were issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Thursday, July 3rd. JPMorgan Chase & Co.'s dividend payout ratio is currently 28.73%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on JPM. Robert W. Baird lowered shares of JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 price target for the company. in a research note on Friday, June 27th. Cowen reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, July 16th. UBS Group boosted their target price on shares of JPMorgan Chase & Co. from $277.00 to $305.00 and gave the stock a "buy" rating in a report on Thursday, April 17th. KGI Securities started coverage on shares of JPMorgan Chase & Co. in a report on Sunday, April 13th. They issued a "hold" rating on the stock. Finally, TD Cowen started coverage on shares of JPMorgan Chase & Co. in a report on Thursday, May 15th. They issued a "buy" rating and a $305.00 target price on the stock. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, JPMorgan Chase & Co. currently has an average rating of "Moderate Buy" and a consensus target price of $288.68.

Insider Buying and Selling at JPMorgan Chase & Co.

In related news, COO Jennifer Piepszak sold 6,128 shares of the company's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $262.47, for a total transaction of $1,608,416.16. Following the completion of the sale, the chief operating officer directly owned 62,455 shares of the company's stock, valued at approximately $16,392,563.85. This represents a 8.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Stacey Friedman sold 2,821 shares of the company's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $265.71, for a total transaction of $749,567.91. Following the sale, the general counsel directly owned 68,757 shares of the company's stock, valued at approximately $18,269,422.47. This represents a 3.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 15,557 shares of company stock valued at $4,113,796. 0.47% of the stock is owned by insiders.

JPMorgan Chase & Co. 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.