Edgestream Partners L.P. Takes Position in JPMorgan Chase & Co. $JPM

Edgestream Partners L.P. acquired a new stake in JPMorgan Chase & Co. (NYSE:JPM) in the second quarter, HoldingsChannel.com reports. The fund acquired 58,583 shares of the financial services provider’s stock, valued at approximately $16,984,000. JPMorgan Chase & Co. accounts for 0.5% of Edgestream Partners L.P.’s portfolio, making the stock its 6th biggest position.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Harbor Asset Planning Inc. purchased a new stake in shares of JPMorgan Chase & Co. in the second quarter valued at approximately $26,000. Mizuho Securities Co. Ltd. raised its position in JPMorgan Chase & Co. by 450.0% in the second quarter. Mizuho Securities Co. Ltd. now owns 110 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 90 shares in the last quarter. University of Illinois Foundation acquired a new stake in JPMorgan Chase & Co. in the first quarter valued at $30,000. Ryan Investment Management Inc. purchased a new stake in shares of JPMorgan Chase & Co. during the 2nd quarter worth $37,000. Finally, Christopher J. Hasenberg Inc grew its stake in shares of JPMorgan Chase & Co. by 212.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 106 shares during the period. Institutional investors and hedge funds own 71.55% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on JPM. DZ Bank reiterated a “neutral” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, October 15th. TD Cowen increased their target price on shares of JPMorgan Chase & Co. from $350.00 to $370.00 and gave the company a “buy” rating in a report on Friday, October 3rd. Royal Bank Of Canada reiterated a “buy” rating and set a $343.00 price target on shares of JPMorgan Chase & Co. in a research report on Tuesday, October 14th. The Goldman Sachs Group decreased their price target on JPMorgan Chase & Co. from $355.00 to $354.00 and set a “buy” rating on the stock in a research note on Friday. Finally, KGI Securities raised their price objective on JPMorgan Chase & Co. from $300.00 to $315.00 and gave the company a “hold” rating in a research note on Wednesday, October 15th. Fifteen research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, JPMorgan Chase & Co. has an average rating of “Hold” and an average target price of $325.81.

Insider Buying and Selling

In related news, insider Robin Leopold sold 966 shares of the business’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $311.92, for a total value of $301,314.72. Following the completion of the transaction, the insider owned 58,479 shares of the company’s stock, valued at approximately $18,240,769.68. The trade was a 1.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.47% of the company’s stock.

JPMorgan Chase & Co. Trading Down 0.3%

Shares of JPM opened at $315.20 on Friday. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a 50 day simple moving average of $306.73 and a 200-day simple moving average of $294.65. JPMorgan Chase & Co. has a 1-year low of $202.16 and a 1-year high of $322.25. The stock has a market cap of $858.06 billion, a price-to-earnings ratio of 15.61, a price-to-earnings-growth ratio of 1.64 and a beta of 1.08.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.83 by $0.24. The firm had revenue of $47.12 billion for the quarter, compared to analyst estimates of $44.42 billion. JPMorgan Chase & Co. had a return on equity of 17.18% and a net margin of 20.90%.JPMorgan Chase & Co.’s revenue was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.37 EPS. Equities analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Monday, October 6th were paid a dividend of $1.50 per share. The ex-dividend date of this dividend was Monday, October 6th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.9%. JPMorgan Chase & Co.’s dividend payout ratio is 29.72%.

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.