AE Wealth Management LLC grew its position in shares of JPMorgan Chase & Co. (NYSE:JPM – Free Report) by 3.7% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 349,481 shares of the financial services provider’s stock after buying an additional 12,413 shares during the quarter. AE Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $45,541,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. Mercer Global Advisors Inc. ADV lifted its position in JPMorgan Chase & Co. by 11.3% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 336,522 shares of the financial services provider’s stock valued at $45,128,000 after purchasing an additional 34,068 shares during the period. Argus Investors Counsel Inc. raised its stake in shares of JPMorgan Chase & Co. by 0.6% during the 4th quarter. Argus Investors Counsel Inc. now owns 24,284 shares of the financial services provider’s stock worth $3,256,000 after buying an additional 149 shares in the last quarter. Hixon Zuercher LLC lifted its holdings in shares of JPMorgan Chase & Co. by 0.8% in the 4th quarter. Hixon Zuercher LLC now owns 34,276 shares of the financial services provider’s stock valued at $4,596,000 after buying an additional 264 shares during the period. CHURCHILL MANAGEMENT Corp boosted its stake in shares of JPMorgan Chase & Co. by 3.4% in the first quarter. CHURCHILL MANAGEMENT Corp now owns 29,711 shares of the financial services provider’s stock valued at $3,872,000 after buying an additional 984 shares in the last quarter. Finally, Athena Investment Management boosted its stake in shares of JPMorgan Chase & Co. by 0.9% in the fourth quarter. Athena Investment Management now owns 28,247 shares of the financial services provider’s stock valued at $3,788,000 after buying an additional 244 shares in the last quarter. Institutional investors and hedge funds own 70.10% of the company’s stock.
Analyst Upgrades and Downgrades
JPM has been the subject of a number of recent analyst reports. BMO Capital Markets raised their target price on JPMorgan Chase & Co. from $169.00 to $170.00 in a report on Tuesday, May 2nd. Citigroup reduced their price objective on shares of JPMorgan Chase & Co. from $165.00 to $160.00 in a research note on Monday. Evercore ISI reduced their price objective on shares of JPMorgan Chase & Co. from $155.00 to $151.00 in a research note on Friday, May 12th. The Goldman Sachs Group raised their price objective on shares of JPMorgan Chase & Co. from $160.00 to $172.00 in a research note on Friday, April 14th. Finally, 92 Resources reiterated a “maintains” rating on shares of JPMorgan Chase & Co. in a research note on Friday, May 12th. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $157.35.
JPMorgan Chase & Co. Stock Performance
JPMorgan Chase & Co. (NYSE:JPM – Free Report) last issued its quarterly earnings results on Friday, April 14th. The financial services provider reported $4.10 EPS for the quarter, topping analysts’ consensus estimates of $3.41 by $0.69. The business had revenue of $38.35 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was up 24.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.63 earnings per share. On average, equities analysts anticipate that JPMorgan Chase & Co. will post 14.43 earnings per share for the current year.
JPMorgan Chase & Co. Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, July 31st. Investors of record on Thursday, July 6th will be issued a $1.00 dividend. The ex-dividend date is Wednesday, July 5th. This represents a $4.00 dividend on an annualized basis and a yield of 2.89%. JPMorgan Chase & Co.’s payout ratio is 29.52%.
Insider Activity at JPMorgan Chase & Co.
In related news, Vice Chairman Peter Scher sold 2,482 shares of the business’s stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $141.39, for a total value of $350,929.98. Following the completion of the sale, the insider now directly owns 41,333 shares in the company, valued at $5,844,072.87. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Vice Chairman Peter Scher sold 2,482 shares of the business’s stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $141.39, for a total value of $350,929.98. Following the completion of the sale, the insider now directly owns 41,333 shares in the company, valued at $5,844,072.87. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Douglas B. Petno sold 4,930 shares of the business’s stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $142.16, for a total transaction of $700,848.80. Following the completion of the sale, the chief executive officer now owns 277,161 shares of the company’s stock, valued at $39,401,207.76. The disclosure for this sale can be found here. Over the last three months, insiders sold 145,861 shares of company stock worth $19,858,275. 0.79% of the stock is owned by company insiders.
JPMorgan Chase & Co. Profile
JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services to consumers and small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services.
Read More
- Five stocks we like better than JPMorgan Chase & Co.
- AMD’s Recent Correction: A Buying Opportunity For Investors?
- AeroVironment’s New Momentum Makes it a Value Play
- Unifirst: Undervalued At Rock-Bottom Prices
- Jefferies Misses on Earnings: Does it Signal a Speed Bump or U-Turn?
- General Mills Retreats To The Buy Zone
Receive News & Ratings for JPMorgan Chase & Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for JPMorgan Chase & Co. and related companies with MarketBeat.com's FREE daily email newsletter.
