BridgePort Financial Solutions LLC boosted its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 3.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,477 shares of the financial services provider’s stock after purchasing an additional 114 shares during the period. BridgePort Financial Solutions LLC’s holdings in JPMorgan Chase & Co. were worth $853,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in JPM. Geode Capital Management LLC increased its holdings in shares of JPMorgan Chase & Co. by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 59,220,603 shares of the financial services provider’s stock worth $14,161,171,000 after purchasing an additional 876,417 shares during the period. Norges Bank acquired a new stake in JPMorgan Chase & Co. in the fourth quarter worth $8,310,884,000. Northern Trust Corp raised its holdings in JPMorgan Chase & Co. by 15.4% in the fourth quarter. Northern Trust Corp now owns 33,845,676 shares of the financial services provider’s stock worth $8,113,147,000 after purchasing an additional 4,515,147 shares during the period. GAMMA Investing LLC raised its holdings in JPMorgan Chase & Co. by 25,861.9% in the first quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider’s stock worth $5,778,289,000 after purchasing an additional 23,465,278 shares during the period. Finally, Capital Research Global Investors raised its holdings in JPMorgan Chase & Co. by 9.1% in the fourth quarter. Capital Research Global Investors now owns 22,841,033 shares of the financial services provider’s stock worth $5,475,223,000 after purchasing an additional 1,914,049 shares during the period. 71.55% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several research firms recently commented on JPM. TD Cowen began coverage on shares of JPMorgan Chase & Co. in a research report on Thursday, May 15th. They issued a “buy” rating and a $305.00 price objective on the stock. TD Securities reaffirmed a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, June 4th. Wall Street Zen raised shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research report on Wednesday, May 14th. Morgan Stanley boosted their price objective on shares of JPMorgan Chase & Co. from $236.00 to $240.00 and gave the company an “equal weight” rating in a research report on Monday, June 23rd. Finally, Cowen reiterated a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, May 20th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $273.15.
JPMorgan Chase & Co. Stock Performance
Shares of JPMorgan Chase & Co. stock opened at $287.31 on Friday. The company has a 50 day moving average of $261.55 and a 200-day moving average of $252.76. JPMorgan Chase & Co. has a 1-year low of $190.90 and a 1-year high of $289.41. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.23. The company has a market cap of $798.45 billion, a PE ratio of 14.10, a price-to-earnings-growth ratio of 2.69 and a beta of 1.08.
JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last issued its quarterly earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share for the quarter, topping analysts’ consensus estimates of $4.63 by $0.44. JPMorgan Chase & Co. had a net margin of 21.21% and a return on equity of 16.88%. The company had revenue of $45.30 billion during the quarter, compared to the consensus estimate of $43.62 billion. During the same quarter in the prior year, the firm posted $4.44 EPS. The firm’s quarterly revenue was up 8.0% on a year-over-year basis. As a group, equities research analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.
JPMorgan Chase & Co. Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 3rd will be paid a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 1.95%. The ex-dividend date is Thursday, July 3rd. JPMorgan Chase & Co.’s payout ratio is currently 27.49%.
Insider Activity
In other JPMorgan Chase & Co. news, COO Jennifer Piepszak sold 6,128 shares of the firm’s stock in a transaction on 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 completion of the sale, the chief operating officer now directly owns 62,455 shares in the company, valued at approximately $16,392,563.85. This trade represents a 8.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Jeremy Barnum sold 40,014 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief financial officer now directly owns 18,017 shares in the company, valued at $4,518,123.09. This trade represents a 68.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 71,200 shares of company stock valued at $18,060,015. Insiders own 0.47% of the company’s stock.
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.
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