Cetera Investment Advisers Acquires 70,729 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Key Points

• Cetera Investment Advisers increased its stake in JPMorgan Chase & Co. by 7.9%, acquiring an additional 70,729 shares during the 1st quarter, bringing its total holdings to 969,361 shares valued at approximately $237.78 million.
• Institutional investors currently hold 71.55% of JPMorgan Chase & Co.'s stock, with several other firms also increasing their positions during the same period.
• The company recently declared a quarterly dividend of $1.40 per share, representing an annualized yield of 1.87% and a dividend payout ratio of 28.73%.

Cetera Investment Advisers boosted its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 7.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 969,361 shares of the financial services provider's stock after acquiring an additional 70,729 shares during the period. Cetera Investment Advisers' holdings in JPMorgan Chase & Co. were worth $237,784,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Geode Capital Management LLC increased its holdings in shares of JPMorgan Chase & Co. by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 59,220,603 shares of the financial services provider's stock valued at $14,161,171,000 after purchasing an additional 876,417 shares in the last quarter. Norges Bank acquired a new stake in JPMorgan Chase & Co. during the 4th quarter worth $8,310,884,000. Northern Trust Corp boosted its position in shares of JPMorgan Chase & Co. by 15.4% during the 4th quarter. Northern Trust Corp now owns 33,845,676 shares of the financial services provider's stock valued at $8,113,147,000 after acquiring an additional 4,515,147 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of JPMorgan Chase & Co. by 1.9% during the 1st quarter. Bank of New York Mellon Corp now owns 24,801,153 shares of the financial services provider's stock valued at $6,083,723,000 after acquiring an additional 454,226 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in 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 valued at $5,778,289,000 after buying an additional 23,465,278 shares during the period. 71.55% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on JPM. Morgan Stanley boosted their price target on shares of JPMorgan Chase & Co. from $296.00 to $298.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 16th. Hsbc Global Res cut JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research note on Tuesday, July 8th. Evercore ISI set a $298.00 price objective on JPMorgan Chase & Co. and gave the stock an "outperform" rating in a research report on Monday, July 7th. Royal Bank Of Canada set a $305.00 price objective on JPMorgan Chase & Co. and gave the company an "outperform" rating in a research note on Monday, June 30th. Finally, Cowen restated a "buy" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, July 16th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $288.68.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, CFO Jeremy Barnum sold 40,014 shares of the company's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $250.77, for a total value of $10,034,310.78. Following the transaction, the chief financial officer directly owned 18,017 shares of the company's stock, valued at $4,518,123.09. This represents a 68.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Linda Bammann sold 9,500 shares of the company's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $250.00, for a total value of $2,375,000.00. Following the sale, the director owned 91,539 shares of the company's stock, valued at approximately $22,884,750. This trade represents a 9.40% decrease in their position. The disclosure for this sale can be found here. Insiders sold 71,200 shares of company stock valued at $18,060,015 over the last ninety days. 0.47% of the stock is currently owned by company insiders.

JPMorgan Chase & Co. Stock Performance

NYSE:JPM traded down $7.03 during midday trading on Friday, reaching $289.21. 12,005,470 shares of the company traded hands, compared to its average volume of 8,727,902. JPMorgan Chase & Co. has a twelve month low of $190.90 and a twelve month high of $301.29. The firm has a market capitalization of $803.74 billion, a price-to-earnings ratio of 14.84, a price-to-earnings-growth ratio of 2.00 and a beta of 1.11. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.89. The company has a fifty day moving average price of $280.47 and a 200 day moving average price of $261.28.

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

JPMorgan Chase & Co. Announces Dividend

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

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.