BNP Paribas Acquires 55,369 Shares of JPMorgan Chase & Co. $JPM

BNP Paribas lifted its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 22.6% in the 2nd quarter, Holdings Channel.com reports. The firm owned 299,899 shares of the financial services provider’s stock after purchasing an additional 55,369 shares during the quarter. JPMorgan Chase & Co. comprises about 2.8% of BNP Paribas’ holdings, making the stock its 7th biggest position. BNP Paribas’ holdings in JPMorgan Chase & Co. were worth $87,156,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of JPM. Kingstone Capital Partners Texas LLC grew its stake in JPMorgan Chase & Co. by 609,867.5% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 72,897,211 shares of the financial services provider’s stock valued at $21,133,630,000 after acquiring an additional 72,885,260 shares during the period. Norges Bank purchased a new position in JPMorgan Chase & Co. during the second quarter valued at $10,295,209,000. Laurel Wealth Advisors LLC grew its position in shares of JPMorgan Chase & Co. by 28,813.7% in the second quarter. Laurel Wealth Advisors LLC now owns 16,785,584 shares of the financial services provider’s stock valued at $4,866,309,000 after purchasing an additional 16,727,530 shares during the period. Nuveen LLC purchased a new stake in shares of JPMorgan Chase & Co. during the first quarter worth about $3,972,807,000. Finally, Montrusco Bolton Investments Inc. purchased a new stake in shares of JPMorgan Chase & Co. during the second quarter worth about $485,802,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Trading Up 3.1%

Shares of JPM stock opened at $309.90 on Thursday. The company’s 50-day moving average price is $306.40 and its 200-day moving average price is $295.85. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.26. The stock has a market cap of $843.62 billion, a price-to-earnings ratio of 15.35, a PEG ratio of 1.56 and a beta of 1.08. JPMorgan Chase & Co. has a twelve month low of $202.16 and a twelve month high of $322.25.

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

JPMorgan Chase & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, January 31st. Investors of record on Tuesday, January 6th will be issued a $1.50 dividend. The ex-dividend date is Tuesday, January 6th. This represents a $6.00 dividend on an annualized basis and a yield of 1.9%. JPMorgan Chase & Co.’s dividend payout ratio is currently 29.72%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on JPM shares. The Goldman Sachs Group lowered their price objective on JPMorgan Chase & Co. from $355.00 to $354.00 and set a “buy” rating on the stock in a report on Friday, December 5th. Daiwa Capital Markets increased their price objective on JPMorgan Chase & Co. from $330.00 to $332.00 and gave the company an “outperform” rating in a research note on Wednesday, October 8th. Barclays raised their price objective on JPMorgan Chase & Co. from $330.00 to $342.00 and gave the company an “overweight” rating in a report on Wednesday, October 15th. Dbs Bank raised shares of JPMorgan Chase & Co. to a “hold” rating in a report on Tuesday, October 21st. Finally, Evercore ISI increased their target price on shares of JPMorgan Chase & Co. from $309.00 to $330.00 and gave the company an “outperform” rating in a research report on Tuesday, September 30th. Fifteen research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $325.48.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, insider Robin Leopold sold 966 shares of JPMorgan Chase & Co. stock in a transaction on Friday, November 7th. The stock was sold at an average price of $311.92, for a total value of $301,314.72. Following the sale, the insider owned 58,479 shares in the company, valued at $18,240,769.68. The trade was a 1.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.47% of the company’s stock.

JPMorgan Chase & Co. Company 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.