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ING Groep NV Buys 90,821 Shares of JPMorgan Chase & Co. (NYSE:JPM)

JPMorgan Chase & Co. logo with Finance background

Key Points

  • ING Groep NV increased its holdings in JPMorgan Chase & Co. by 166.6% in Q1, owning 145,341 shares valued at approximately $35.65 million.
  • Several analysts have raised their price targets for JPMorgan Chase, with Bank of America setting the highest at $340.00, while the stock currently has a consensus target price of $288.68.
  • JPMorgan reported a quarterly earnings per share (EPS) of $4.96, exceeding expectations, but its revenue dropped 10.5% year-over-year to $44.91 billion.
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ING Groep NV raised its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 166.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 145,341 shares of the financial services provider's stock after acquiring an additional 90,821 shares during the quarter. ING Groep NV's holdings in JPMorgan Chase & Co. were worth $35,652,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. MJT & Associates Financial Advisory Group Inc. acquired a new stake in shares of JPMorgan Chase & Co. in the first quarter worth approximately $28,000. Redwood Park Advisors LLC bought a new stake in shares of JPMorgan Chase & Co. in the fourth quarter worth $29,000. Curat Global LLC bought a new stake in shares of JPMorgan Chase & Co. in the first quarter worth $33,000. Investment Counsel Co. of Nevada acquired a new position in JPMorgan Chase & Co. in the fourth quarter worth $37,000. Finally, Measured Risk Portfolios Inc. acquired a new position in JPMorgan Chase & Co. in the fourth quarter worth $44,000. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Price Performance

Shares of NYSE:JPM traded up $1.61 during midday trading on Friday, reaching $288.55. The company's stock had a trading volume of 6,633,369 shares, compared to its average volume of 8,541,502. JPMorgan Chase & Co. has a fifty-two week low of $200.61 and a fifty-two week high of $301.29. The company has a market capitalization of $793.44 billion, a P/E ratio of 14.81, a P/E/G ratio of 1.93 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 business's fifty day simple moving average is $283.74 and its 200-day simple moving average is $262.70.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, topping analysts' consensus estimates of $4.48 by $0.48. The firm had revenue of $44.91 billion during the quarter, compared to analyst estimates of $43.76 billion. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%. The company's revenue was down 10.5% on a year-over-year basis. During the same period last year, the company earned $6.12 earnings per share. As a group, equities research analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal 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 given a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date was Thursday, July 3rd. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is presently 28.73%.

Insider Transactions at JPMorgan Chase & Co.

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

Analysts Set New Price Targets

Several equities analysts have recently issued reports on JPM shares. TD Cowen began coverage on shares of JPMorgan Chase & Co. in a report on Thursday, May 15th. They set a "buy" rating and a $305.00 price target for the company. UBS Group boosted their price objective on JPMorgan Chase & Co. from $277.00 to $305.00 and gave the stock a "buy" rating in a report on Thursday, April 17th. Evercore ISI set a $298.00 target price on JPMorgan Chase & Co. and gave the company an "outperform" rating in a report on Monday, July 7th. Cowen reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, July 16th. Finally, Hsbc Global Res cut JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research note on Tuesday, July 8th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $288.68.

Read Our Latest Research Report on JPM

JPMorgan Chase & Co. Profile

(Free Report)

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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Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

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