E&G Advisors LP lessened its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.5% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 32,527 shares of the financial services provider’s stock after selling 500 shares during the quarter. JPMorgan Chase & Co. comprises approximately 1.7% of E&G Advisors LP’s portfolio, making the stock its 9th biggest position. E&G Advisors LP’s holdings in JPMorgan Chase & Co. were worth $4,731,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in JPM. Bank Julius Baer & Co. Ltd Zurich increased its position in shares of JPMorgan Chase & Co. by 97,681.8% in the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 2,056,747,063 shares of the financial services provider’s stock valued at $299,133,293,000 after acquiring an additional 2,054,643,659 shares during the period. Moneta Group Investment Advisors LLC increased its position in shares of JPMorgan Chase & Co. by 105,652.2% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 98,000,567 shares of the financial services provider’s stock valued at $13,141,876,000 after acquiring an additional 97,907,897 shares during the period. Norges Bank acquired a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at $3,894,646,000. Price T Rowe Associates Inc. MD increased its position 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 during the period. Finally, Morgan Stanley increased its position 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 during the period. Hedge funds and other institutional investors own 68.94% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities analysts recently issued reports on the company. Atlantic Securities upped their target price on JPMorgan Chase & Co. from $150.00 to $160.00 and gave the company a “neutral” rating in a research report on Tuesday, August 1st. Oppenheimer cut their price target on JPMorgan Chase & Co. from $219.00 to $215.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 26th. Credit Suisse Group increased their price target on JPMorgan Chase & Co. from $160.00 to $170.00 in a research report on Monday, July 17th. Barclays increased their price target on JPMorgan Chase & Co. from $179.00 to $182.00 in a research report on Sunday, July 16th. Finally, Societe Generale downgraded JPMorgan Chase & Co. from a “buy” rating to a “hold” rating in a research report on Monday, July 10th. Eight investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $168.26.
Insider Activity at JPMorgan Chase & Co.
In related news, General Counsel Stacey Friedman sold 4,310 shares of the firm’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $157.16, for a total value of $677,359.60. Following the transaction, the general counsel now directly owns 57,735 shares of the company’s stock, valued at approximately $9,073,632.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.79% of the stock is currently owned by corporate insiders.
JPMorgan Chase & Co. Trading Down 0.2 %
JPM stock opened at $144.77 on Tuesday. The company’s 50-day simple moving average is $148.40 and its 200-day simple moving average is $143.00. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.28. JPMorgan Chase & Co. has a 52-week low of $101.28 and a 52-week high of $159.38. The firm has a market cap of $420.71 billion, a P/E ratio of 9.32, a PEG ratio of 1.85 and a beta of 1.10.
JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last issued its quarterly earnings results on Friday, July 14th. The financial services provider reported $4.37 earnings per share for the quarter, beating analysts’ consensus estimates of $3.62 by $0.75. The firm had revenue of $42.40 billion for the quarter, compared to analyst estimates of $38.66 billion. JPMorgan Chase & Co. had a net margin of 23.45% and a return on equity of 17.29%. JPMorgan Chase & Co.’s quarterly revenue was up 34.1% compared to the same quarter last year. During the same period last year, the company posted $2.76 EPS. As a group, equities analysts forecast that JPMorgan Chase & Co. will post 15.68 EPS for the current fiscal year.
JPMorgan Chase & Co. Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, October 6th will be paid a $1.05 dividend. The ex-dividend date is Thursday, October 5th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.00. This represents a $4.20 dividend on an annualized basis and a yield of 2.90%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 27.03%.
About JPMorgan Chase & Co.
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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