North American Management Corp decreased its position in JPMorgan Chase & Co. (NYSE:JPM) by 3.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 273,642 shares of the financial services provider’s stock after selling 10,714 shares during the quarter. JPMorgan Chase & Co. accounts for about 4.6% of North American Management Corp’s investment portfolio, making the stock its largest holding. North American Management Corp’s holdings in JPMorgan Chase & Co. were worth $28,513,000 at the end of the most recent reporting period.
A number of other large investors have also recently modified their holdings of the business. Archford Capital Strategies LLC raised its holdings in JPMorgan Chase & Co. by 3.7% during the 4th quarter. Archford Capital Strategies LLC now owns 17,802 shares of the financial services provider’s stock valued at $1,903,000 after acquiring an additional 634 shares during the period. Banco de Sabadell S.A bought a new stake in JPMorgan Chase & Co. during the 4th quarter valued at $27,519,000. Westover Capital Advisors LLC increased its holdings in shares of JPMorgan Chase & Co. by 5.7% in the fourth quarter. Westover Capital Advisors LLC now owns 25,900 shares of the financial services provider’s stock worth $2,770,000 after purchasing an additional 1,405 shares during the period. Slow Capital Inc. bought a new position in shares of JPMorgan Chase & Co. in the fourth quarter worth $770,000. Finally, First Commonwealth Financial Corp PA increased its holdings in shares of JPMorgan Chase & Co. by 7.0% in the fourth quarter. First Commonwealth Financial Corp PA now owns 23,189 shares of the financial services provider’s stock worth $2,480,000 after purchasing an additional 1,511 shares during the period. 70.56% of the stock is owned by institutional investors.
Several research analysts have recently weighed in on the stock. Vining Sparks reaffirmed a “buy” rating and issued a $125.00 price target on shares of JPMorgan Chase & Co. in a report on Friday. Royal Bank of Canada reaffirmed a “buy” rating and issued a $120.00 price target on shares of JPMorgan Chase & Co. in a report on Monday, July 16th. Citigroup upped their price target on shares of JPMorgan Chase & Co. from $115.00 to $125.00 and gave the stock a “neutral” rating in a report on Wednesday, September 26th. Goldman Sachs Group set a $130.00 price target on shares of JPMorgan Chase & Co. and gave the stock a “neutral” rating in a report on Friday. Finally, Zacks Investment Research cut shares of JPMorgan Chase & Co. from a “hold” rating to a “sell” rating in a report on Monday, July 2nd. Ten research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. JPMorgan Chase & Co. has a consensus rating of “Buy” and an average price target of $121.99.
JPM opened at $106.95 on Friday. The firm has a market capitalization of $387.26 billion, a P/E ratio of 15.57, a PEG ratio of 1.85 and a beta of 1.17. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.18. JPMorgan Chase & Co. has a 52 week low of $94.96 and a 52 week high of $119.33.
JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Friday, October 12th. The financial services provider reported $2.34 EPS for the quarter, beating the Zacks’ consensus estimate of $2.28 by $0.06. JPMorgan Chase & Co. had a return on equity of 13.18% and a net margin of 22.80%. During the same period in the previous year, the firm earned $1.76 EPS. As a group, sell-side analysts anticipate that JPMorgan Chase & Co. will post 9.17 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 31st. Investors of record on Friday, October 5th will be paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date of this dividend is Thursday, October 4th. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $0.56. JPMorgan Chase & Co.’s dividend payout ratio is currently 46.58%.
In related news, CEO Gordon Smith sold 30,725 shares of the stock in a transaction on Monday, July 23rd. The stock was sold at an average price of $114.01, for a total value of $3,502,957.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.73% of the stock is owned by corporate insiders.
About JPMorgan Chase & Co.
JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking, and Asset & Wealth Management. The Consumer & Community Banking segment offers deposit and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; residential mortgages and home equity loans; and credit cards, payment processing services, auto loans and leases.
Want to see what other hedge funds are holding JPM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for JPMorgan Chase & Co. (NYSE:JPM).
Receive News & Ratings for JPMorgan Chase & Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for JPMorgan Chase & Co. and related companies with MarketBeat.com's FREE daily email newsletter.