JPMorgan Chase & Co. (NYSE:JPM) Holdings Increased by Associated Banc Corp

Key Points

• Associated Banc Corp increased its holdings in JPMorgan Chase & Co. by 4.0% in Q1, now owning 400,489 shares valued at approximately $98.24 million, making it the bank's 5th largest holding.
• JPMorgan reported an EPS of $4.96 for the last quarter, beating analysts’ expectations of $4.48, though revenue decreased by 10.5% compared to the prior year.
• The company announced a quarterly dividend of $1.40 per share, reflecting a 1.9% yield, with a current payout ratio of 28.73%.

Associated Banc Corp grew its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 4.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 400,489 shares of the financial services provider's stock after buying an additional 15,580 shares during the quarter. JPMorgan Chase & Co. accounts for approximately 3.0% of Associated Banc Corp's holdings, making the stock its 5th biggest holding. Associated Banc Corp's holdings in JPMorgan Chase & Co. were worth $98,240,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Florida Financial Advisors LLC grew its holdings 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. Fourth Dimension Wealth LLC bought a new position in JPMorgan Chase & Co. during the 4th quarter valued at about $471,000. Crown Wealth Group LLC grew its holdings 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. Morse Asset Management Inc grew its holdings 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 grew its holdings 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 hedge funds and other institutional investors.

JPMorgan Chase & Co. Price Performance

Shares of JPM opened at $288.55 on Friday. The company has a 50 day moving average price of $283.74 and a 200-day moving average price of $262.70. JPMorgan Chase & Co. has a fifty-two week low of $200.61 and a fifty-two week high of $301.29. The stock has a market capitalization of $793.44 billion, a PE ratio of 14.81, a PEG ratio of 1.93 and a beta of 1.11. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.89 and a current ratio of 0.88.

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, beating analysts' consensus estimates of $4.48 by $0.48. The company had revenue of $44.91 billion during the quarter, compared to analysts' expectations of $43.76 billion. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. JPMorgan Chase & Co.'s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $6.12 earnings per share. Equities analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

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

Insider Buying and Selling at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 6,608 shares of JPMorgan Chase & Co. stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $265.71, for a total value of $1,755,811.68. Following the transaction, the general counsel directly owned 36,520 shares of the company's stock, valued at approximately $9,703,729.20. The trade was a 15.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jennifer Piepszak sold 6,128 shares of JPMorgan Chase & Co. stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $262.47, for a total transaction of $1,608,416.16. Following the completion of the transaction, the chief operating officer directly owned 62,455 shares in the company, valued at $16,392,563.85. This represents a 8.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,557 shares of company stock worth $4,113,796 over the last ninety days. Corporate insiders own 0.47% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Morgan Stanley upped their price target on shares of JPMorgan Chase & Co. from $296.00 to $298.00 and gave the company an "equal weight" rating in a report on Wednesday, July 16th. Keefe, Bruyette & Woods upped their price target on shares of JPMorgan Chase & Co. from $327.00 to $330.00 and gave the company an "outperform" rating in a report on Wednesday, July 16th. KGI Securities started coverage on shares of JPMorgan Chase & Co. in a research report on Sunday, April 13th. They issued a "hold" rating for the company. Robert W. Baird cut shares of JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 price objective for the company. in a research report on Friday, June 27th. Finally, TD Cowen started coverage on shares of JPMorgan Chase & Co. in a research report on Thursday, May 15th. They issued a "buy" rating and a $305.00 price objective for the company. Three 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 issued a strong buy rating to the stock. According to MarketBeat.com, JPMorgan Chase & Co. has an average rating of "Moderate Buy" and a consensus price target of $288.68.

About JPMorgan Chase & Co.

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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