Bleakley Financial Group LLC bought a new position in JPMorgan Chase & Co. (NYSE:JPM) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 73,945 shares of the financial services provider’s stock, valued at approximately $9,916,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Twin Lakes Capital Management LLC lifted its holdings in shares of JPMorgan Chase & Co. by 0.5% during the fourth quarter. Twin Lakes Capital Management LLC now owns 13,786 shares of the financial services provider’s stock worth $1,849,000 after purchasing an additional 71 shares during the period. Karpas Strategies LLC lifted its holdings in JPMorgan Chase & Co. by 0.3% in the fourth quarter. Karpas Strategies LLC now owns 21,608 shares of the financial services provider’s stock valued at $2,898,000 after buying an additional 71 shares during the period. Premier Asset Management LLC lifted its holdings in JPMorgan Chase & Co. by 1.7% in the third quarter. Premier Asset Management LLC now owns 4,635 shares of the financial services provider’s stock valued at $484,000 after buying an additional 77 shares during the period. Sage Rhino Capital LLC lifted its holdings in JPMorgan Chase & Co. by 0.8% in the fourth quarter. Sage Rhino Capital LLC now owns 9,478 shares of the financial services provider’s stock valued at $1,271,000 after buying an additional 78 shares during the period. Finally, Trellis Advisors LLC lifted its holdings in JPMorgan Chase & Co. by 2.8% in the third quarter. Trellis Advisors LLC now owns 2,897 shares of the financial services provider’s stock valued at $302,000 after buying an additional 79 shares during the period. 67.89% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several equities analysts have recently weighed in on JPM shares. 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. Odeon Capital Group upgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating in a report on Monday, May 1st. Barclays dropped their price objective on shares of JPMorgan Chase & Co. from $189.00 to $179.00 and set an “overweight” rating on the stock in a report on Wednesday, April 12th. Keefe, Bruyette & Woods upped their price objective on shares of JPMorgan Chase & Co. from $131.00 to $155.00 and gave the company a “market perform” rating in a report on Monday, April 17th. Finally, Bank of America upped their price objective on shares of JPMorgan Chase & Co. from $152.00 to $158.00 and gave the company a “buy” rating in a report on Monday, April 17th. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, JPMorgan Chase & Co. currently has a consensus rating of “Moderate Buy” and an average price target of $155.00.
JPMorgan Chase & Co. Price Performance
JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last announced its quarterly earnings results on Friday, April 14th. The financial services provider reported $4.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.41 by $0.69. The business had revenue of $38.35 billion for the quarter, compared to analyst estimates of $35.77 billion. JPMorgan Chase & Co. had a net margin of 23.73% and a return on equity of 16.02%. The company’s revenue was up 24.8% on a year-over-year basis. During the same quarter last year, the firm earned $2.63 EPS. As a group, equities analysts expect that JPMorgan Chase & Co. will post 14.33 EPS for the current year.
JPMorgan Chase & Co. Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Sunday, April 30th. Stockholders of record on Thursday, April 6th were given a $1.00 dividend. The ex-dividend date of this dividend was Wednesday, April 5th. This represents a $4.00 annualized dividend and a dividend yield of 2.93%. JPMorgan Chase & Co.’s dividend payout ratio is 29.52%.
JPMorgan Chase & Co. Company Profile
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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