Q3 Asset Management Takes $2.90 Million Position in JPMorgan Chase & Co. (NYSE:JPM)

Q3 Asset Management bought a new stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 11,815 shares of the financial services provider's stock, valued at approximately $2,898,000. JPMorgan Chase & Co. comprises about 2.0% of Q3 Asset Management's holdings, making the stock its 15th biggest position.

Several other institutional investors also recently added to or reduced their stakes in JPM. Redwood Park Advisors LLC acquired a new position in JPMorgan Chase & Co. in the fourth quarter worth about $29,000. Curat Global LLC bought a new stake in shares of JPMorgan Chase & Co. in the 1st quarter worth about $33,000. Sellwood Investment Partners LLC acquired a new stake in shares of JPMorgan Chase & Co. during the 4th quarter worth about $34,000. Investment Counsel Co. of Nevada bought a new stake in JPMorgan Chase & Co. during the fourth quarter worth about $37,000. Finally, Prudent Man Investment Management Inc. bought a new position in shares of JPMorgan Chase & Co. in the fourth quarter valued at approximately $43,000. 71.55% of the stock is owned by institutional investors.

Analysts Set New Price Targets

JPM has been the topic of several research analyst reports. Wells Fargo & Company increased their target price on JPMorgan Chase & Co. from $320.00 to $325.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. Hsbc Global Res cut shares of JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research report on Tuesday, July 8th. TD Securities reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, June 4th. UBS Group lifted their price objective on JPMorgan Chase & Co. from $277.00 to $305.00 and gave the stock a "buy" rating in a research report on Thursday, April 17th. Finally, Robert W. Baird cut JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 price objective for the company. in a research note on Friday, June 27th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have given a buy rating and one has given 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 target price of $288.68.

JPMorgan Chase & Co. Stock Performance

Shares of JPM traded up $0.63 during midday trading on Tuesday, reaching $291.60. The stock had a trading volume of 6,716,067 shares, compared to its average volume of 9,511,967. 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 50 day simple moving average of $274.67 and a 200-day simple moving average of $258.17. The firm has a market cap of $810.38 billion, a PE ratio of 14.96, a P/E/G ratio of 1.99 and a beta of 1.10. JPMorgan Chase & Co. has a one year low of $190.90 and a one year 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 (EPS) for the quarter, topping 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 company had revenue of $44.91 billion during the quarter, compared to analysts' expectations of $43.76 billion. During the same quarter last year, the company posted $6.12 EPS. JPMorgan Chase & Co.'s quarterly revenue was down 10.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 3rd will be given a $1.40 dividend. 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 1.92%. JPMorgan Chase & Co.'s payout ratio is presently 28.73%.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, COO Jennifer Piepszak sold 6,129 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $250.76, for a total transaction of $1,536,908.04. Following the completion of the sale, the chief operating officer owned 68,583 shares of the company's stock, valued at approximately $17,197,873.08. This represents a 8.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Linda Bammann sold 9,500 shares of the firm's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $250.00, for a total value of $2,375,000.00. Following the completion of the sale, the director directly owned 91,539 shares in the company, valued at approximately $22,884,750. This represents a 9.40% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 71,200 shares of company stock valued at $18,060,015. 0.47% of the stock is currently owned by insiders.

JPMorgan Chase & Co. 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.