Fifth Third Wealth Advisors LLC acquired a new position in shares of JPMorgan Chase & Co. (NYSE:JPM – Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 10,544 shares of the financial services provider’s stock, valued at approximately $1,374,000. JPMorgan Chase & Co. makes up about 2.5% of Fifth Third Wealth Advisors LLC’s investment portfolio, making the stock its 8th largest position.
A number of other institutional investors have also added to or reduced their stakes in JPM. Moneta Group Investment Advisors LLC lifted its holdings in JPMorgan Chase & Co. by 105,652.2% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 98,000,567 shares of the financial services provider’s stock worth $13,141,876,000 after purchasing an additional 97,907,897 shares in the last quarter. Norges Bank purchased a new stake in JPMorgan Chase & Co. during the 4th quarter worth about $3,894,646,000. Price T Rowe Associates Inc. MD raised its holdings in shares of JPMorgan Chase & Co. by 71.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 30,484,094 shares of the financial services provider’s stock valued at $4,087,917,000 after acquiring an additional 12,654,947 shares in the last quarter. Morgan Stanley raised its holdings in shares of JPMorgan Chase & Co. by 15.9% in the 4th quarter. Morgan Stanley now owns 59,049,256 shares of the financial services provider’s stock valued at $7,918,506,000 after acquiring an additional 8,088,433 shares in the last quarter. Finally, Ontario Teachers Pension Plan Board purchased a new stake in shares of JPMorgan Chase & Co. in the 4th quarter valued at about $556,791,000. Hedge funds and other institutional investors own 70.10% of the company’s stock.
JPMorgan Chase & Co. Price Performance
Shares of JPM stock opened at $154.20 on Thursday. The firm has a market cap of $450.62 billion, a P/E ratio of 9.92, a P/E/G ratio of 2.12 and a beta of 1.10. JPMorgan Chase & Co. has a fifty-two week low of $101.28 and a fifty-two week high of $155.21. The business’s 50 day moving average price is $141.56 and its 200-day moving average price is $138.29. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.85 and a current ratio of 0.90.
JPMorgan Chase & Co. Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, July 31st. Stockholders of record on Thursday, July 6th will be paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date of this dividend is Wednesday, July 5th. JPMorgan Chase & Co.’s payout ratio is presently 25.74%.
Insider Activity
In other news, CEO Douglas B. Petno sold 4,930 shares of the firm’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $142.16, for a total value of $700,848.80. Following the completion of the transaction, the chief executive officer now owns 277,161 shares in the company, valued at approximately $39,401,207.76. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Vice Chairman Peter Scher sold 2,482 shares of the firm’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $141.39, for a total value of $350,929.98. Following the completion of the transaction, the insider now owns 41,333 shares in the company, valued at approximately $5,844,072.87. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Douglas B. Petno sold 4,930 shares of the firm’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 value of $700,848.80. Following the completion of the transaction, the chief executive officer now owns 277,161 shares of the company’s stock, valued at approximately $39,401,207.76. The disclosure for this sale can be found here. Insiders sold a total of 145,861 shares of company stock worth $19,858,275 in the last quarter. 0.79% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
Several analysts have weighed in on JPM shares. Jefferies Financial Group raised JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and raised their price target for the company from $149.00 to $165.00 in a report on Tuesday, July 11th. Royal Bank of Canada lowered their price target on JPMorgan Chase & Co. from $150.00 to $132.00 and set an “outperform” rating on the stock in a report on Friday, March 24th. Keefe, Bruyette & Woods raised their price target on JPMorgan Chase & Co. from $131.00 to $155.00 and gave the company a “market perform” rating in a report on Monday, April 17th. Evercore ISI lowered their price target on JPMorgan Chase & Co. from $155.00 to $151.00 in a report on Friday, May 12th. Finally, Barclays raised their price target on JPMorgan Chase & Co. from $179.00 to $182.00 in a report on Sunday. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, JPMorgan Chase & Co. has a consensus rating of “Moderate Buy” and an average price target of $164.65.
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.
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