JPMorgan Chase & Co. (NYSE:JPM) is Davis Rea LTD.'s 5th Largest Position

Key Points

• Davis Rea LTD. increased its stake in JPMorgan Chase & Co. by 92.9%, owning 86,425 shares worth $21.2 million, making it the 5th largest position in their portfolio.
• JPMorgan reported an EPS of $4.96 for the recent quarter, surpassing analysts' estimates of $4.48, despite a 10.5% year-over-year revenue decline.
• The company recently declared a quarterly dividend of $1.40 per share, with a 1.87% dividend yield, payable on July 31st.

Davis Rea LTD. lifted its stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 92.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 86,425 shares of the financial services provider's stock after acquiring an additional 41,613 shares during the period. JPMorgan Chase & Co. makes up about 5.6% of Davis Rea LTD.'s holdings, making the stock its 5th largest holding. Davis Rea LTD.'s holdings in JPMorgan Chase & Co. were worth $21,200,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of JPMorgan Chase & Co. in the fourth quarter worth about $8,310,884,000. GAMMA Investing LLC boosted its position in JPMorgan Chase & Co. by 25,861.9% during 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 acquiring an additional 23,465,278 shares in the last quarter. Northern Trust Corp boosted its position 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 worth $8,113,147,000 after purchasing an additional 4,515,147 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position 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 worth $2,561,256,000 after purchasing an additional 2,551,899 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position 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 worth $4,207,028,000 after purchasing an additional 2,465,572 shares in the last quarter. Institutional investors own 71.55% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on JPM. KGI Securities started coverage on JPMorgan Chase & Co. in a research report on Sunday, April 13th. They issued a "hold" rating on the stock. Wall Street Zen raised JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th. TD Securities restated a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, June 4th. Hsbc Global Res lowered JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research report on Tuesday, July 8th. Finally, Wells Fargo & Company lifted their price target on JPMorgan Chase & Co. from $320.00 to $325.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $288.68.

JPMorgan Chase & Co. Stock Down 2.4%

Shares of NYSE:JPM traded down $7.03 on Friday, reaching $289.21. The company had a trading volume of 12,005,470 shares, compared to its average volume of 8,727,902. The firm's 50 day simple moving average is $280.47 and its 200-day simple moving average is $261.28. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.25. JPMorgan Chase & Co. has a 52-week low of $190.90 and a 52-week high of $301.29. The firm has a market capitalization of $803.74 billion, a PE ratio of 14.84, a PEG ratio of 2.00 and a beta of 1.11.

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 earnings per share 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 analyst estimates of $43.76 billion. During the same period in the previous year, the company earned $6.12 earnings per share. The business's quarterly revenue was down 10.5% compared to the same quarter last year. As a group, analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

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

Insider Activity

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 6,608 shares of the company's stock in a transaction dated 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 completion of the transaction, the general counsel owned 36,520 shares in the company, valued at approximately $9,703,729.20. This represents a 15.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Jeremy Barnum sold 40,014 shares of JPMorgan Chase & Co. stock in a transaction dated 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 completion of the sale, the chief financial officer owned 18,017 shares in the company, valued at approximately $4,518,123.09. The trade was a 68.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 71,200 shares of company stock worth $18,060,015. 0.47% of the stock is currently owned by insiders.

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.