1832 Asset Management L.P. Purchases 468,247 Shares of JPMorgan Chase & Co. $JPM

1832 Asset Management L.P. grew its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 29.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 2,059,124 shares of the financial services provider’s stock after acquiring an additional 468,247 shares during the period. JPMorgan Chase & Co. comprises 0.5% of 1832 Asset Management L.P.’s holdings, making the stock its 25th largest holding. 1832 Asset Management L.P.’s holdings in JPMorgan Chase & Co. were worth $596,961,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Harbor Asset Planning Inc. acquired a new stake in JPMorgan Chase & Co. in the second quarter valued at approximately $26,000. Mizuho Securities Co. Ltd. raised its stake in shares of 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 purchasing an additional 90 shares during the last quarter. University of Illinois Foundation purchased a new stake in JPMorgan Chase & Co. in the 1st quarter valued at $30,000. Ryan Investment Management Inc. purchased a new stake in JPMorgan Chase & Co. in the 2nd quarter valued at $37,000. Finally, Christopher J. Hasenberg Inc boosted its holdings in JPMorgan Chase & Co. by 212.0% during the second 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 last quarter. Institutional investors own 71.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Barclays increased their price target on JPMorgan Chase & Co. from $330.00 to $342.00 and gave the company an “overweight” rating in a research report on Wednesday, October 15th. KGI Securities upped their price objective on shares of JPMorgan Chase & Co. from $300.00 to $315.00 and gave the company a “hold” rating in a report on Wednesday, October 15th. UBS Group lifted their price objective on shares of JPMorgan Chase & Co. from $339.00 to $350.00 and gave the company a “buy” rating in a research note on Tuesday, October 7th. Weiss Ratings restated a “buy (b+)” rating on shares of JPMorgan Chase & Co. in a research note on Monday, December 1st. Finally, Zacks Research lowered shares of JPMorgan Chase & Co. from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 18th. Fifteen investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $325.81.

Insider Activity

In other news, insider Robin Leopold sold 966 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $311.92, for a total value of $301,314.72. Following the transaction, the insider owned 58,479 shares in the company, valued at approximately $18,240,769.68. This trade represents a 1.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.47% of the company’s stock.

JPMorgan Chase & Co. Stock Down 0.3%

JPM opened at $315.20 on Friday. The business’s fifty day simple moving average is $306.73 and its 200 day simple moving average is $294.86. JPMorgan Chase & Co. has a 52 week low of $202.16 and a 52 week high of $322.25. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.26. The stock has a market cap of $858.06 billion, a PE ratio of 15.61, a P/E/G ratio of 1.63 and a beta of 1.08.

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

JPMorgan Chase & Co. Increases Dividend

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