JPMorgan Chase & Co. $JPM Shares Bought by Granite Bay Wealth Management LLC

Granite Bay Wealth Management LLC grew its stake in shares of JPMorgan Chase & Co. (NYSE:JPMFree Report) by 10.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 28,736 shares of the financial services provider’s stock after purchasing an additional 2,619 shares during the period. JPMorgan Chase & Co. makes up about 1.8% of Granite Bay Wealth Management LLC’s holdings, making the stock its 19th largest position. Granite Bay Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $8,453,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in JPM. Morgan Stanley boosted its holdings in JPMorgan Chase & Co. by 1.4% during the fourth quarter. Morgan Stanley now owns 66,385,268 shares of the financial services provider’s stock worth $21,390,662,000 after buying an additional 939,421 shares in the last quarter. Norges Bank acquired a new position in JPMorgan Chase & Co. during the fourth quarter worth about $11,396,496,000. Bank of New York Mellon Corp increased its holdings in JPMorgan Chase & Co. by 5.4% in the fourth quarter. Bank of New York Mellon Corp now owns 23,424,482 shares of the financial services provider’s stock valued at $7,547,837,000 after buying an additional 1,194,583 shares in the last quarter. Legal & General Group Plc lifted its position in shares of JPMorgan Chase & Co. by 0.6% during the 4th quarter. Legal & General Group Plc now owns 19,019,564 shares of the financial services provider’s stock valued at $6,128,484,000 after acquiring an additional 110,586 shares during the period. Finally, Fisher Asset Management LLC lifted its position in shares of JPMorgan Chase & Co. by 1.9% during the 4th quarter. Fisher Asset Management LLC now owns 16,018,656 shares of the financial services provider’s stock valued at $5,161,532,000 after acquiring an additional 296,213 shares during the period. 71.55% of the stock is owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Price Performance

JPM opened at $346.77 on Thursday. JPMorgan Chase & Co. has a 1 year low of $279.10 and a 1 year high of $351.24. The company’s 50 day simple moving average is $317.58 and its 200 day simple moving average is $309.98. The stock has a market capitalization of $929.17 billion, a PE ratio of 14.86, a P/E/G ratio of 1.56 and a beta of 0.99. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.86 and a current ratio of 0.85.

JPMorgan Chase & Co. (NYSE:JPMGet Free Report) last posted its quarterly earnings results on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share for the quarter, topping analysts’ consensus estimates of $5.50 by $0.44. The company had revenue of $50.54 billion for the quarter, compared to the consensus estimate of $48.30 billion. JPMorgan Chase & Co. had a net margin of 21.86% and a return on equity of 18.23%. JPMorgan Chase & Co.’s revenue was up 10.0% on a year-over-year basis. During the same quarter last year, the firm posted $5.07 earnings per share. As a group, sell-side analysts expect that JPMorgan Chase & Co. will post 22.82 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 6th will be paid a dividend of $1.50 per share. The ex-dividend date of this dividend is Monday, July 6th. This represents a $6.00 annualized dividend and a dividend yield of 1.7%. JPMorgan Chase & Co.’s payout ratio is currently 25.71%.

Insider Transactions at JPMorgan Chase & Co.

In related news, COO Jennifer Piepszak sold 4,919 shares of the stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $309.42, for a total value of $1,522,036.98. Following the transaction, the chief operating officer directly owned 85,082 shares of the company’s stock, valued at approximately $26,326,072.44. This trade represents a 5.47% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jeremy Barnum sold 3,022 shares of JPMorgan Chase & Co. stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $309.41, for a total value of $935,037.02. Following the completion of the transaction, the chief financial officer owned 32,438 shares in the company, valued at $10,036,641.58. The trade was a 8.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 18,876 shares of company stock worth $5,907,051 in the last ninety days. Insiders own 0.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on JPM shares. DZ Bank reissued a “neutral” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, April 15th. Evercore reaffirmed an “outperform” rating and set a $360.00 price objective on shares of JPMorgan Chase & Co. in a report on Monday, July 6th. Dbs Bank upgraded JPMorgan Chase & Co. to a “hold” rating in a research report on Tuesday, May 12th. Daiwa Securities Group lowered their target price on JPMorgan Chase & Co. from $340.00 to $328.00 and set an “outperform” rating on the stock in a report on Tuesday, April 7th. Finally, Autonomous Res lowered their price target on shares of JPMorgan Chase & Co. from $360.00 to $324.00 and set a “neutral” rating on the stock in a research report on Monday, April 6th. Fifteen equities research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company. According to MarketBeat, JPMorgan Chase & Co. has an average rating of “Moderate Buy” and a consensus target price of $354.42.

View Our Latest Stock Analysis on JPM

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JPMorgan Chase & Co. Company Profile

(Free Report)

JPMorgan Chase & Co (NYSE: JPM) is a diversified global financial services firm headquartered in New York City. The company provides a wide range of banking and financial products and services to consumers, small businesses, corporations, governments and institutional investors worldwide. Its operations span retail banking, commercial lending, investment banking, asset management, payments and card services, and treasury and securities services.

The firm’s principal business activities are organized across several core lines: Consumer & Community Banking, which offers deposit accounts, mortgages, auto loans, credit cards and branch and digital banking under the Chase brand; Corporate & Investment Banking, which provides capital markets, advisory, underwriting, trading and risk management services; Commercial Banking, delivering lending, treasury and capital solutions to middle-market and corporate clients; and Asset & Wealth Management, which offers investment management, private banking and retirement services to institutions and high-net-worth individuals.

See Also

Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

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