Peterson Wealth Services Has $12.46 Million Stake in JPMorgan Chase & Co. (NYSE:JPM)

Key Points

• Peterson Wealth Services increased its position in JPMorgan Chase & Co. by 2.3%, now holding 50,793 shares valued at approximately $12.46 million.
• JPMorgan Chase's stock closed at $298.46, with a market cap of $829.45 billion and a year-to-date high of $299.59.
• The company reported $4.96 earnings per share (EPS) last quarter, exceeding analysts' expectations, but showed a 10.5% decline in revenue compared to the previous year.

Peterson Wealth Services increased its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 2.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 50,793 shares of the financial services provider's stock after purchasing an additional 1,153 shares during the period. JPMorgan Chase & Co. accounts for about 3.9% of Peterson Wealth Services' holdings, making the stock its 5th biggest holding. Peterson Wealth Services' holdings in JPMorgan Chase & Co. were worth $12,460,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Norges Bank bought a new stake in shares of JPMorgan Chase & Co. in the 4th quarter worth about $8,310,884,000. GAMMA Investing LLC boosted its holdings 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 valued at $5,778,289,000 after buying an additional 23,465,278 shares during the period. Northern Trust Corp boosted its holdings 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 valued at $8,113,147,000 after buying an additional 4,515,147 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings 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 valued at $2,561,256,000 after buying an additional 2,551,899 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings 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 valued at $4,207,028,000 after buying an additional 2,465,572 shares during the period. 71.55% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at JPMorgan Chase & Co.

In related news, CFO Jeremy Barnum sold 40,014 shares of the stock in a transaction that occurred on 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 owned 18,017 shares in the company, valued at approximately $4,518,123.09. This represents a 68.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, General Counsel Stacey Friedman sold 6,608 shares of the stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $265.71, for a total value of $1,755,811.68. Following the completion of the transaction, the general counsel owned 36,520 shares in the company, valued at $9,703,729.20. This represents a 15.32% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 71,200 shares of company stock worth $18,060,015. Corporate insiders own 0.47% of the company's stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. HSBC reiterated a "reduce" rating and issued a $259.00 price objective on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 8th. Robert W. Baird downgraded shares of JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 price objective on the stock. in a research report on Friday, June 27th. Keefe, Bruyette & Woods lifted their price objective on shares of JPMorgan Chase & Co. from $327.00 to $330.00 and gave the company an "outperform" rating in a research report on Wednesday, July 16th. Royal Bank Of Canada set a $305.00 price objective on shares of JPMorgan Chase & Co. and gave the company an "outperform" rating in a research report on Monday, June 30th. Finally, Wall Street Zen raised shares of JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a research note on Wednesday, May 14th. Three equities 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. Based on data from MarketBeat, JPMorgan Chase & Co. presently has a consensus rating of "Moderate Buy" and an average price target of $288.68.

JPMorgan Chase & Co. Stock Up 0.9%

JPM traded up $2.59 on Wednesday, reaching $299.63. 8,046,594 shares of the company traded hands, compared to its average volume of 8,322,348. The stock's 50 day moving average price is $279.75 and its 200-day moving average price is $260.92. JPMorgan Chase & Co. has a 52-week low of $190.90 and a 52-week high of $301.29. The company has a market cap of $832.70 billion, a price-to-earnings ratio of 15.37, a PEG ratio of 2.00 and a beta of 1.10. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.89.

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, beating analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $43.76 billion. During the same period in the previous year, the firm posted $6.12 earnings per share. The firm's revenue was down 10.5% on a year-over-year basis. On average, sell-side 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 will be paid on Thursday, July 31st. Investors of record on Thursday, July 3rd will be issued a $1.40 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $5.60 dividend on an annualized basis and a yield of 1.87%. JPMorgan Chase & Co.'s dividend payout ratio is currently 28.73%.

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.