JPMorgan Chase & Co. (NYSE:JPM) Stock Holdings Boosted by LGT Group Foundation

Key Points

• LGT Group Foundation increased its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 41.9% during the first quarter, now owning 746,340 shares valued at approximately $183 million.
• JPMorgan Chase reported quarterly earnings of $4.96 per share, surpassing analyst expectations, although revenue was down 10.5% year-over-year.
• The company declared a quarterly dividend of $1.40 per share, representing an annualized dividend yield of 1.9%.

LGT Group Foundation grew its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 41.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 746,340 shares of the financial services provider's stock after acquiring an additional 220,539 shares during the quarter. JPMorgan Chase & Co. accounts for approximately 2.5% of LGT Group Foundation's portfolio, making the stock its 10th largest holding. LGT Group Foundation's holdings in JPMorgan Chase & Co. were worth $183,077,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. Terril Brothers Inc. boosted its holdings in JPMorgan Chase & Co. by 3.8% during the 1st quarter. Terril Brothers Inc. now owns 9,583 shares of the financial services provider's stock worth $2,351,000 after acquiring an additional 349 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd boosted its holdings in JPMorgan Chase & Co. by 393.8% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 316 shares of the financial services provider's stock worth $78,000 after acquiring an additional 252 shares during the last quarter. Resona Asset Management Co. Ltd. boosted its holdings in JPMorgan Chase & Co. by 6.8% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 912,678 shares of the financial services provider's stock worth $223,519,000 after acquiring an additional 57,871 shares during the last quarter. Rathbones Group PLC boosted its holdings in JPMorgan Chase & Co. by 0.3% during the 1st quarter. Rathbones Group PLC now owns 2,845,039 shares of the financial services provider's stock worth $697,888,000 after acquiring an additional 8,467 shares during the last quarter. Finally, Finer Wealth Management Inc. boosted its holdings in JPMorgan Chase & Co. by 1.7% during the 1st quarter. Finer Wealth Management Inc. now owns 20,780 shares of the financial services provider's stock worth $5,097,000 after acquiring an additional 347 shares during the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Trading Down 1.3%

Shares of JPM opened at $290.48 on Friday. The business's 50-day moving average price is $286.42 and its 200-day moving average price is $263.61. JPMorgan Chase & Co. has a twelve month low of $200.61 and a twelve month high of $301.29. The stock has a market cap of $798.75 billion, a PE ratio of 14.90, a P/E/G ratio of 1.95 and a beta of 1.11. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.25.

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 for the quarter, beating the consensus estimate 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 firm had revenue of $44.91 billion for the quarter, compared to analysts' expectations of $43.76 billion. During the same period in the prior year, the business posted $6.12 earnings per share. The company's revenue was down 10.5% on a year-over-year basis. On average, equities analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The business also recently declared 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 was Thursday, July 3rd. This represents a $5.60 annualized dividend and a dividend yield of 1.9%. JPMorgan Chase & Co.'s dividend payout ratio is currently 28.73%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Morgan Stanley lifted 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 report on Wednesday, July 16th. HSBC restated a "reduce" rating and set a $259.00 price target on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 8th. Phillip Securities lowered shares of JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, July 16th. TD Securities restated a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, June 4th. Finally, Cowen restated a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, July 16th. Three analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $288.68.

Insider Activity

In related news, COO Jennifer Piepszak sold 6,128 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $262.47, for a total value of $1,608,416.16. Following the sale, the chief operating officer directly owned 62,455 shares of the company's stock, 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 SEC, which is available through the SEC website. Also, General Counsel Stacey Friedman sold 2,821 shares of the firm's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $265.71, for a total transaction of $749,567.91. Following the completion of the sale, the general counsel directly owned 68,757 shares in the company, valued at $18,269,422.47. This represents a 3.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,557 shares of company stock worth $4,113,796. Company insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Company 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.

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