Maple Capital Management Inc. cut its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 2.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 187,958 shares of the financial services provider's stock after selling 3,883 shares during the period. JPMorgan Chase & Co. makes up approximately 3.9% of Maple Capital Management Inc.'s investment portfolio, making the stock its 8th largest holding. Maple Capital Management Inc.'s holdings in JPMorgan Chase & Co. were worth $59,288,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in JPM. Mizuho Securities Co. Ltd. lifted its holdings in shares of JPMorgan Chase & Co. by 450.0% during the 2nd quarter. Mizuho Securities Co. Ltd. now owns 110 shares of the financial services provider's stock valued at $32,000 after purchasing an additional 90 shares in the last quarter. Mountain Hill Investment Partners Corp. acquired a new position in shares of JPMorgan Chase & Co. in the 3rd quarter valued at approximately $32,000. Family Legacy Financial Solutions LLC increased its stake in JPMorgan Chase & Co. by 92.6% during the 3rd quarter. Family Legacy Financial Solutions LLC now owns 104 shares of the financial services provider's stock worth $33,000 after purchasing an additional 50 shares in the last quarter. Turning Point Benefit Group Inc. acquired a new stake in JPMorgan Chase & Co. during the 3rd quarter worth approximately $35,000. Finally, Collier Financial acquired a new stake in JPMorgan Chase & Co. during the 3rd quarter worth approximately $60,000. 71.55% of the stock is owned by institutional investors and hedge funds.
Insider Activity at JPMorgan Chase & Co.
In other news, insider Robin Leopold sold 432 shares of the firm's stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $307.14, for a total value of $132,684.48. Following the completion of the transaction, the insider owned 65,353 shares in the company, valued at $20,072,520.42. This trade represents a 0.66% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jeremy Barnum sold 2,893 shares of JPMorgan Chase & Co. stock in a transaction dated Friday, January 16th. The shares were sold at an average price of $312.79, for a total value of $904,901.47. Following the completion of the sale, the chief financial officer directly owned 26,696 shares in the company, valued at approximately $8,350,241.84. This represents a 9.78% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 71,596 shares of company stock worth $22,067,932. Corporate insiders own 0.47% of the company's stock.
Analyst Ratings Changes
A number of brokerages have weighed in on JPM. TD Cowen reaffirmed a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, January 7th. Zacks Research upgraded shares of JPMorgan Chase & Co. from a "hold" rating to a "strong-buy" rating in a report on Tuesday, March 10th. Robert W. Baird boosted their price objective on shares of JPMorgan Chase & Co. from $280.00 to $290.00 and gave the company a "neutral" rating in a research report on Wednesday, March 4th. Freedom Capital raised shares of JPMorgan Chase & Co. to a "hold" rating in a research note on Wednesday, January 14th. Finally, Daiwa Securities Group increased their target price on JPMorgan Chase & Co. from $345.00 to $353.00 and gave the stock an "outperform" rating in a report on Tuesday, January 6th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat, JPMorgan Chase & Co. presently has an average rating of "Moderate Buy" and a consensus price target of $340.00.
Read Our Latest Research Report on JPM
JPMorgan Chase & Co. Price Performance
NYSE JPM opened at $287.68 on Thursday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.27. JPMorgan Chase & Co. has a 12-month low of $202.16 and a 12-month high of $337.25. The company has a market capitalization of $775.88 billion, a PE ratio of 14.38, a price-to-earnings-growth ratio of 1.19 and a beta of 1.06. The firm's 50 day moving average is $304.03 and its 200-day moving average is $308.08.
JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its earnings results on Tuesday, January 13th. The financial services provider reported $5.23 EPS for the quarter, topping the consensus estimate of $4.93 by $0.30. JPMorgan Chase & Co. had a net margin of 20.35% and a return on equity of 17.16%. The business had revenue of $45.80 billion during the quarter, compared to analysts' expectations of $45.98 billion. During the same quarter in the prior year, the company posted $4.81 earnings per share. The firm's revenue was up 7.1% on a year-over-year basis. Equities research analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.
JPMorgan Chase & Co. Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Monday, April 6th will be given a dividend of $1.50 per share. The ex-dividend date of this dividend is Monday, April 6th. This represents a $6.00 annualized dividend and a yield of 2.1%. JPMorgan Chase & Co.'s payout ratio is 29.99%.
JPMorgan Chase & Co. News Roundup
Here are the key news stories impacting JPMorgan Chase & Co. this week:
JPMorgan Chase & Co. Profile
(
Free Report)
JPMorgan Chase & Co NYSE: JPM is a diversified global financial services firm headquartered in New York City. The company provides a wide range of banking and financial products and services to consumers, small businesses, corporations, governments and institutional investors worldwide. Its operations span retail banking, commercial lending, investment banking, asset management, payments and card services, and treasury and securities services.
The firm's principal business activities are organized across several core lines: Consumer & Community Banking, which offers deposit accounts, mortgages, auto loans, credit cards and branch and digital banking under the Chase brand; Corporate & Investment Banking, which provides capital markets, advisory, underwriting, trading and risk management services; Commercial Banking, delivering lending, treasury and capital solutions to middle-market and corporate clients; and Asset & Wealth Management, which offers investment management, private banking and retirement services to institutions and high-net-worth individuals.
Featured Stories
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