SlateStone Wealth LLC Raises Position in JPMorgan Chase & Co. (NYSE:JPM)

Key Points

• SlateStone Wealth LLC increased its position in JPMorgan Chase & Co. by 2.3% during the first quarter, holding 74,717 shares valued at approximately $18.3 million.
• Other significant investors, like GAMMA Investing LLC, boosted their positions by over 25,000% and now own 23.6 million shares, reflecting growing institutional interest in the bank.
• JPMorgan Chase recently declared a quarterly dividend of $1.40, resulting in an annualized payment of $5.60, with a yield of 1.9% and a payout ratio of 28.73%.

SlateStone Wealth LLC lifted its stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 2.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 74,717 shares of the financial services provider's stock after purchasing an additional 1,685 shares during the period. JPMorgan Chase & Co. accounts for 1.8% of SlateStone Wealth LLC's investment portfolio, making the stock its 7th biggest holding. SlateStone Wealth LLC's holdings in JPMorgan Chase & Co. were worth $18,328,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC grew its stake in JPMorgan Chase & Co. by 25,861.9% in 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 buying an additional 23,465,278 shares in the last quarter. Northern Trust Corp raised its stake in shares of JPMorgan Chase & Co. by 15.4% during the 4th quarter. Northern Trust Corp now owns 33,845,676 shares of the financial services provider's stock valued at $8,113,147,000 after purchasing an additional 4,515,147 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in JPMorgan Chase & Co. by 31.4% during 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in JPMorgan Chase & Co. by 16.3% during 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. Finally, APG Asset Management N.V. boosted its stake in JPMorgan Chase & Co. by 457.7% in the 4th quarter. APG Asset Management N.V. now owns 2,725,473 shares of the financial services provider's stock worth $630,925,000 after purchasing an additional 2,236,740 shares during the period. Hedge funds and other institutional investors own 71.55% of the company's stock.

JPMorgan Chase & Co. Trading Down 1.5%

Shares of JPM traded down $4.32 during trading hours on Thursday, reaching $287.03. 8,055,914 shares of the company traded hands, compared to its average volume of 8,559,338. JPMorgan Chase & Co. has a 12 month low of $200.61 and a 12 month high of $301.29. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.25. The company's fifty day moving average price is $282.79 and its two-hundred day moving average price is $262.34. The company has a market capitalization of $797.67 billion, a price-to-earnings ratio of 15.17, a price-to-earnings-growth ratio of 1.94 and a beta of 1.11.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its quarterly earnings data 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. The business had revenue of $44.91 billion during the quarter, compared to the consensus estimate of $43.76 billion. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%. The firm's quarterly revenue was down 10.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $6.12 earnings per share. Equities research analysts predict 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. Investors of record on Thursday, July 3rd were given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend was Thursday, July 3rd. JPMorgan Chase & Co.'s dividend payout ratio is 28.73%.

Insider Activity

In related news, General Counsel Stacey Friedman sold 2,821 shares of the firm's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $265.71, for a total value of $749,567.91. Following the sale, the general counsel owned 68,757 shares in the company, valued at approximately $18,269,422.47. This trade represents a 3.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Jennifer Piepszak sold 6,128 shares of the business's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $262.47, for a total value of $1,608,416.16. Following the sale, the chief operating officer owned 62,455 shares of the company's stock, valued at approximately $16,392,563.85. This represents a 8.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 15,557 shares of company stock worth $4,113,796 over the last three months. 0.47% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Wells Fargo & Company boosted their price objective on shares of JPMorgan Chase & Co. from $320.00 to $325.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. Baird R W cut shares of JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a report on Friday, June 27th. Royal Bank Of Canada set a $305.00 price objective on JPMorgan Chase & Co. and gave the company an "outperform" rating in a research note on Monday, June 30th. Robert W. Baird lowered JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 target price on the stock. in a research note on Friday, June 27th. Finally, Wall Street Zen upgraded JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. Three research 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 data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $288.68.

About JPMorgan Chase & Co.

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.