First Command Bank raised its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 5.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,944 shares of the financial services provider’s stock after acquiring an additional 382 shares during the quarter. First Command Bank’s holdings in JPMorgan Chase & Co. were worth $931,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of JPM. Retirement Financial Solutions LLC bought a new position in shares of JPMorgan Chase & Co. during the fourth quarter worth $26,000. HBC Financial Services PLLC boosted its position in shares of JPMorgan Chase & Co. by 61.2% during the second quarter. HBC Financial Services PLLC now owns 237 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 90 shares in the last quarter. Creative Capital Management Investments LLC bought a new position in shares of JPMorgan Chase & Co. during the fourth quarter worth $30,000. Horizons Wealth Management bought a new position in shares of JPMorgan Chase & Co. during the second quarter worth $39,000. Finally, New Millennium Group LLC bought a new position in shares of JPMorgan Chase & Co. during the second quarter worth $39,000. 67.89% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of equities analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft cut shares of JPMorgan Chase & Co. from a “buy” rating to a “hold” rating and reduced their price target for the stock from $155.00 to $145.00 in a research report on Friday, January 6th. Royal Bank of Canada dropped their price objective on shares of JPMorgan Chase & Co. from $150.00 to $132.00 and set an “outperform” rating on the stock in a report on Friday, March 24th. UBS Group set a $156.00 price objective on shares of JPMorgan Chase & Co. in a report on Friday, January 13th. Wells Fargo & Company upgraded shares of JPMorgan Chase & Co. from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $148.00 to $155.00 in a report on Monday, March 13th. Finally, Credit Suisse Group set a $155.00 price objective on shares of JPMorgan Chase & Co. in a report on Monday, February 27th. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $149.28.
JPMorgan Chase & Co. Stock Down 1.3 %
JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last released its quarterly earnings data on Friday, January 13th. The financial services provider reported $3.57 earnings per share for the quarter, topping the consensus estimate of $3.11 by $0.46. The company had revenue of $34.55 billion for the quarter, compared to analyst estimates of $34.23 billion. JPMorgan Chase & Co. had a net margin of 24.34% and a return on equity of 14.68%. JPMorgan Chase & Co.’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same period in the previous year, the business earned $3.33 EPS. Sell-side analysts anticipate that JPMorgan Chase & Co. will post 12.9 earnings per share for the current year.
JPMorgan Chase & Co. Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, April 30th. Stockholders of record on Thursday, April 6th will be paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Wednesday, April 5th. This represents a $4.00 annualized dividend and a dividend yield of 3.11%. JPMorgan Chase & Co.’s dividend payout ratio is presently 33.11%.
Insider Transactions at JPMorgan Chase & Co.
In other news, Vice Chairman Peter Scher sold 4,399 shares of the business’s stock in a transaction dated Tuesday, January 17th. The shares were sold at an average price of $140.32, for a total transaction of $617,267.68. Following the transaction, the insider now directly owns 36,369 shares in the company, valued at approximately $5,103,298.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Mellody L. Hobson bought 375 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Thursday, January 19th. The stock was acquired at an average price of $134.53 per share, with a total value of $50,448.75. Following the acquisition, the director now owns 22,040 shares of the company’s stock, valued at approximately $2,965,041.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Vice Chairman Peter Scher sold 4,399 shares of JPMorgan Chase & Co. stock in a transaction dated Tuesday, January 17th. The stock was sold at an average price of $140.32, for a total transaction of $617,267.68. Following the sale, the insider now directly owns 36,369 shares of the company’s stock, valued at approximately $5,103,298.08. The disclosure for this sale can be found here. Insiders have sold 37,887 shares of company stock worth $5,315,762 in the last ninety days. Insiders own 0.79% of the company’s stock.
About JPMorgan Chase & Co.
JPMorgan Chase & Co is a financial holding company, which engages in providing financial and investment banking services. The firm offers a range of investment banking products and services in all capital markets, including advising on corporate strategy and structure, capital raising in equity and debt markets, risk management, market making in cash securities and derivative instruments, and brokerage and research.
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