AdvisorNet Financial Inc increased its stake in JPMorgan Chase & Co. (NYSE:JPM – Free Report) by 0.6% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 33,872 shares of the financial services provider’s stock after acquiring an additional 218 shares during the period. AdvisorNet Financial Inc’s holdings in JPMorgan Chase & Co. were worth $4,414,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in the business. Moneta Group Investment Advisors LLC lifted its stake in JPMorgan Chase & Co. by 105,652.2% in the fourth 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 during the last quarter. Morgan Stanley lifted its stake in JPMorgan Chase & Co. by 15.9% in the fourth quarter. Morgan Stanley now owns 59,049,256 shares of the financial services provider’s stock worth $7,918,506,000 after purchasing an additional 8,088,433 shares during the last quarter. Geode Capital Management LLC lifted its stake in JPMorgan Chase & Co. by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 51,248,625 shares of the financial services provider’s stock worth $6,859,512,000 after purchasing an additional 1,082,325 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of JPMorgan Chase & Co. by 71.0% during the fourth 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 during the last quarter. Finally, Norges Bank bought a new position in shares of JPMorgan Chase & Co. during the fourth quarter valued at about $3,894,646,000. 70.10% of the stock is owned by institutional investors.
JPMorgan Chase & Co. Trading Down 0.8 %
NYSE:JPM opened at $154.95 on Monday. The company’s 50 day moving average price is $142.38 and its 200-day moving average price is $138.60. JPMorgan Chase & Co. has a 52 week low of $101.28 and a 52 week high of $156.59. The company has a quick ratio of 0.85, a current ratio of 0.90 and a debt-to-equity ratio of 1.28. The stock has a market cap of $452.81 billion, a price-to-earnings ratio of 9.97, a PEG ratio of 2.05 and a beta of 1.10.
JPMorgan Chase & Co. Announces Dividend
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. This represents a $4.00 annualized dividend and a yield of 2.58%. The ex-dividend date of this dividend is Wednesday, July 5th. JPMorgan Chase & Co.’s dividend payout ratio is currently 25.74%.
Insider Buying and Selling
In related news, CEO Daniel E. Pinto sold 113,640 shares of the firm’s stock in a transaction that occurred on Thursday, May 11th. The shares were sold at an average price of $135.93, for a total value of $15,447,085.20. Following the sale, the chief executive officer now owns 566,665 shares in the company, valued at $77,026,773.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Daniel E. Pinto sold 113,640 shares of the firm’s stock in a transaction that occurred on Thursday, May 11th. The shares were sold at an average price of $135.93, for a total value of $15,447,085.20. Following the sale, the chief executive officer now owns 566,665 shares in the company, valued at $77,026,773.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Vice Chairman Peter Scher sold 1,240 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $135.02, for a total transaction of $167,424.80. Following the completion of the sale, the insider now owns 45,056 shares in the company, valued at approximately $6,083,461.12. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 145,861 shares of company stock worth $19,858,275. 0.79% of the stock is owned by insiders.
Wall Street Analysts Forecast Growth
Several equities analysts have recently commented on JPM shares. Jefferies Financial Group raised shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and upped their price objective for the company from $149.00 to $165.00 in a research note on Tuesday, July 11th. Credit Suisse Group increased their price target on shares of JPMorgan Chase & Co. from $160.00 to $170.00 in a research note on Monday, July 17th. Odeon Capital Group raised shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating in a research note on Monday, May 1st. Oppenheimer increased their price target on shares of JPMorgan Chase & Co. from $157.00 to $192.00 and gave the stock an “outperformer” rating in a research note on Monday, April 17th. Finally, Keefe, Bruyette & Woods increased their price target on shares of JPMorgan Chase & Co. from $131.00 to $155.00 and gave the stock a “market perform” rating in a research note on Monday, April 17th. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus 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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