Ninety One UK Ltd lifted its stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 4.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,019,280 shares of the financial services provider's stock after acquiring an additional 86,663 shares during the quarter. JPMorgan Chase & Co. accounts for about 1.4% of Ninety One UK Ltd's portfolio, making the stock its 25th largest position. Ninety One UK Ltd owned 0.07% of JPMorgan Chase & Co. worth $495,329,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also recently modified their holdings of JPM. China Universal Asset Management Co. Ltd. increased its stake in shares of JPMorgan Chase & Co. by 11.1% during the first quarter. China Universal Asset Management Co. Ltd. now owns 15,648 shares of the financial services provider's stock worth $3,838,000 after acquiring an additional 1,561 shares during the period. Horst & Graben Wealth Management LLC lifted its position in shares of JPMorgan Chase & Co. by 5.0% during the 1st quarter. Horst & Graben Wealth Management LLC now owns 2,738 shares of the financial services provider's stock valued at $672,000 after acquiring an additional 130 shares during the period. Alpha Cubed Investments LLC increased its stake in shares of JPMorgan Chase & Co. by 16.8% during the 1st quarter. Alpha Cubed Investments LLC now owns 332,397 shares of the financial services provider's stock worth $81,537,000 after purchasing an additional 47,736 shares in the last quarter. Jessup Wealth Management Inc increased its stake in shares of JPMorgan Chase & Co. by 1,555.0% during the 1st quarter. Jessup Wealth Management Inc now owns 15,822 shares of the financial services provider's stock worth $3,881,000 after purchasing an additional 14,866 shares in the last quarter. Finally, Family Capital Management Inc. purchased a new position in shares of JPMorgan Chase & Co. during the 1st quarter worth approximately $303,000. Institutional investors and hedge funds own 71.55% of the company's stock.
Insider Transactions at JPMorgan Chase & Co.
In related news, COO Jennifer Piepszak sold 6,129 shares of JPMorgan Chase & Co. stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $250.76, for a total transaction of $1,536,908.04. Following the transaction, the chief operating officer directly owned 68,583 shares of the company's stock, valued at $17,197,873.08. The trade was a 8.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jeremy Barnum sold 40,014 shares of the 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 directly owned 18,017 shares of the company's stock, valued at approximately $4,518,123.09. This represents a 68.95% decrease in their ownership of the stock. 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 quarter. Company insiders own 0.47% of the company's stock.
JPMorgan Chase & Co. Price Performance
Shares of JPM opened at $286.78 on Monday. The company has a market cap of $796.99 billion, a P/E ratio of 14.08, a PEG ratio of 2.62 and a beta of 1.10. The stock has a fifty day moving average price of $270.98 and a 200 day moving average price of $256.48. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.89 and a quick ratio of 0.89. JPMorgan Chase & Co. has a 12 month low of $190.90 and a 12 month high of $296.40.
JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its earnings results on Friday, April 11th. The financial services provider reported $5.07 EPS for the quarter, beating the consensus estimate of $4.63 by $0.44. JPMorgan Chase & Co. had a return on equity of 16.88% and a net margin of 21.21%. The firm had revenue of $45.30 billion for the quarter, compared to analysts' expectations of $43.62 billion. During the same period last year, the firm earned $4.44 EPS. The firm's revenue was up 8.0% compared to the same quarter last year. On average, research analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.
JPMorgan Chase & Co. Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 3rd will be paid a dividend of $1.40 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.95%. JPMorgan Chase & Co.'s dividend payout ratio is presently 27.49%.
Analyst Ratings Changes
Several analysts have commented on the company. Robert W. Baird cut JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 price target for the company. in a report on Friday, June 27th. Wells Fargo & Company restated an "overweight" rating on shares of JPMorgan Chase & Co. in a report on Monday, July 7th. TD Cowen assumed 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 on the stock. Bank of America increased their price target on JPMorgan Chase & Co. from $300.00 to $325.00 and gave the company a "buy" rating in a report on Wednesday, June 18th. Finally, Keefe, Bruyette & Woods upgraded shares of JPMorgan Chase & Co. from a "market perform" rating to an "outperform" rating and set a $327.00 price objective on the stock in a research note on Wednesday, July 9th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, twelve 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 has a consensus rating of "Hold" and a consensus price target of $284.42.
Get Our Latest Stock Report on JPMorgan Chase & Co.
JPMorgan Chase & Co. Company Profile
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Free Report)
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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