JPMorgan Chase & Co. (NYSE:JPM) Stake Raised by PFG Advisors

Key Points

• PFG Advisors increased its stake in JPMorgan Chase & Co. by 24.2%, owning 41,630 shares valued at $10.21 million after acquiring 8,115 additional shares in the first quarter.
• JPMorgan Chase & Co. reported $4.96 earnings per share for the latest quarter, exceeding analyst estimates of $4.48, while revenue rose to $44.91 billion against an expected $43.76 billion.
• The company announced a quarterly dividend of $1.40 per share, with an annualized yield of 1.88% and a payout ratio of 28.73%, to be paid on July 31st.

PFG Advisors grew its holdings in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 24.2% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 41,630 shares of the financial services provider's stock after buying an additional 8,115 shares during the period. PFG Advisors' holdings in JPMorgan Chase & Co. were worth $10,212,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in JPM. Redwood Park Advisors LLC bought a new stake in shares of JPMorgan Chase & Co. in the 4th quarter valued at about $29,000. Curat Global LLC bought a new position in shares of JPMorgan Chase & Co. during the 1st quarter worth approximately $33,000. Sellwood Investment Partners LLC bought a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $34,000. Investment Counsel Co. of Nevada bought a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $37,000. Finally, Prudent Man Investment Management Inc. bought a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $43,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Jeremy Barnum sold 40,014 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $250.77, for a total transaction of $10,034,310.78. Following the sale, the chief financial officer owned 18,017 shares in the company, valued at $4,518,123.09. This trade represents a 68.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 of the company's stock, valued at approximately $16,392,563.85. This represents a 8.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 71,200 shares of company stock valued at $18,060,015 in the last ninety days. 0.47% of the stock is currently owned by company insiders.

JPMorgan Chase & Co. Price Performance

Shares of NYSE JPM traded down $3.42 during mid-day trading on Thursday, reaching $296.22. The company's stock had a trading volume of 2,076,304 shares, compared to its average volume of 10,027,213. The stock has a 50-day moving average of $279.75 and a two-hundred day moving average of $260.92. The stock has a market capitalization of $823.21 billion, a P/E ratio of 15.20, a P/E/G ratio of 2.00 and a beta of 1.10. 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. has a 1-year low of $190.90 and a 1-year high of $301.29.

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

JPMorgan Chase & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 3rd will be given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 1.89%. The ex-dividend date is Thursday, July 3rd. JPMorgan Chase & Co.'s payout ratio is currently 28.73%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Morgan Stanley boosted their price objective 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. Evercore ISI set a $298.00 price objective on shares of JPMorgan Chase & Co. and gave the stock an "outperform" rating in a research note on Monday, July 7th. TD Cowen began coverage on shares of JPMorgan Chase & Co. in a research note on Thursday, May 15th. They set a "buy" rating and a $305.00 price objective for the company. UBS Group lifted their price objective on shares of JPMorgan Chase & Co. from $277.00 to $305.00 and gave the stock a "buy" rating in a research note on Thursday, April 17th. Finally, 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. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, JPMorgan Chase & Co. has an average rating of "Moderate Buy" and an average 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.