Q3 Asset Management Buys New Shares in JPMorgan Chase & Co. (NYSE:JPM)

Q3 Asset Management bought a new stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 11,815 shares of the financial services provider's stock, valued at approximately $2,898,000. JPMorgan Chase & Co. makes up 2.0% of Q3 Asset Management's investment portfolio, making the stock its 15th largest holding.

Several other institutional investors and hedge funds also recently bought and sold shares of JPM. Fourth Dimension Wealth LLC bought a new stake in shares of JPMorgan Chase & Co. in the fourth quarter worth about $471,000. Crown Wealth Group LLC increased its holdings in shares of JPMorgan Chase & Co. by 5.4% in the first quarter. Crown Wealth Group LLC now owns 4,320 shares of the financial services provider's stock worth $1,060,000 after purchasing an additional 222 shares during the last quarter. Hidden Cove Wealth Management LLC increased its holdings in shares of JPMorgan Chase & Co. by 4.2% in the first quarter. Hidden Cove Wealth Management LLC now owns 2,758 shares of the financial services provider's stock worth $677,000 after purchasing an additional 112 shares during the last quarter. Aaron Wealth Advisors LLC increased its holdings in shares of JPMorgan Chase & Co. by 6.4% in the first quarter. Aaron Wealth Advisors LLC now owns 20,191 shares of the financial services provider's stock worth $4,953,000 after purchasing an additional 1,218 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. increased its holdings in shares of JPMorgan Chase & Co. by 11.1% in 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 purchasing an additional 1,561 shares during the last quarter. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on JPM shares. Robert W. Baird cut JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 target price on the stock. in a report on Friday, June 27th. Morgan Stanley lifted their price target on JPMorgan Chase & Co. from $296.00 to $298.00 and gave the stock an "equal weight" rating in a research report on Wednesday. Cowen reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday. Wall Street Zen upgraded JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. Finally, Citigroup set a $275.00 price target on JPMorgan Chase & Co. and gave the stock a "buy" rating in a research report on Monday, July 7th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $288.68.

JPMorgan Chase & Co. Trading Up 0.5%

Shares of NYSE JPM traded up $1.32 during trading hours on Friday, reaching $291.22. The stock had a trading volume of 12,206,726 shares, compared to its average volume of 9,522,248. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.25. The firm has a market cap of $809.33 billion, a price-to-earnings ratio of 14.94, a P/E/G ratio of 2.54 and a beta of 1.10. The business's fifty day moving average price is $274.67 and its two-hundred day moving average price is $257.92. JPMorgan Chase & Co. has a 52-week low of $190.90 and a 52-week high of $296.40.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share for the quarter, topping analysts' consensus estimates of $4.48 by $0.48. The company had revenue of $44.91 billion during the quarter, compared to analyst estimates of $43.76 billion. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%. JPMorgan Chase & Co.'s revenue was down 10.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $6.12 earnings per share. Analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd will be issued 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 yield of 1.92%. JPMorgan Chase & Co.'s dividend payout ratio is currently 28.73%.

Insider Buying and Selling

In other news, Director Linda Bammann sold 9,500 shares of the company's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $250.00, for a total transaction of $2,375,000.00. Following the transaction, the director directly owned 91,539 shares of the company's stock, valued at approximately $22,884,750. This represents a 9.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Jeremy Barnum sold 40,014 shares of the company's stock in a transaction 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 directly 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. Insiders have sold 71,200 shares of company stock worth $18,060,015 in the last three months. Corporate 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.