Bank of Nova Scotia Increases Stock Holdings in JPMorgan Chase & Co. $JPM

Bank of Nova Scotia lifted its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 6.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,400,825 shares of the financial services provider’s stock after buying an additional 86,591 shares during the quarter. JPMorgan Chase & Co. comprises about 0.8% of Bank of Nova Scotia’s holdings, making the stock its 22nd biggest holding. Bank of Nova Scotia’s holdings in JPMorgan Chase & Co. were worth $406,112,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of JPM. Harbor Asset Planning Inc. acquired a new position in JPMorgan Chase & Co. in the second quarter valued at $26,000. University of Illinois Foundation purchased a new stake in shares of JPMorgan Chase & Co. in the 1st quarter valued at about $30,000. Mizuho Securities Co. Ltd. lifted its holdings in shares of JPMorgan Chase & Co. by 450.0% in the 2nd quarter. Mizuho Securities Co. Ltd. now owns 110 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 90 shares during the last quarter. Ryan Investment Management Inc. acquired a new stake in shares of JPMorgan Chase & Co. in the 2nd quarter valued at about $37,000. Finally, Christopher J. Hasenberg Inc grew its stake in 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 buying an additional 106 shares during the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on JPM shares. Dbs Bank upgraded JPMorgan Chase & Co. to a “hold” rating in a research note on Tuesday, October 21st. Keefe, Bruyette & Woods lifted their target price on shares of JPMorgan Chase & Co. from $330.00 to $354.00 and gave the company an “outperform” rating in a report on Friday, October 10th. Wall Street Zen upgraded shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. The Goldman Sachs Group lowered their price objective on shares of JPMorgan Chase & Co. from $355.00 to $354.00 and set a “buy” rating on the stock in a research report on Friday, December 5th. Finally, Weiss Ratings reaffirmed a “buy (b+)” rating on shares of JPMorgan Chase & Co. in a report on Monday. Fifteen analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, JPMorgan Chase & Co. currently has an average rating of “Hold” and a consensus price target of $325.48.

Insider Activity at JPMorgan Chase & Co.

In related news, insider Robin Leopold sold 966 shares of the company’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $311.92, for a total transaction of $301,314.72. Following the transaction, the insider owned 58,479 shares of the company’s stock, valued at $18,240,769.68. This represents a 1.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.47% of the stock is owned by corporate insiders.

JPMorgan Chase & Co. Stock Down 4.8%

JPM stock opened at $300.23 on Wednesday. The stock has a market capitalization of $817.29 billion, a PE ratio of 14.87, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08. The company has a fifty day moving average of $306.41 and a 200-day moving average of $295.75. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.86 and a current ratio of 0.86. JPMorgan Chase & Co. has a one year low of $202.16 and a one year high of $322.25.

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

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Monday, October 6th were paid a dividend of $1.50 per share. This is a positive change 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 dividend yield of 2.0%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 29.72%.

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.