Osher Van de Voorde Investment Management reduced its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 129,494 shares of the financial services provider’s stock after selling 1,015 shares during the quarter. JPMorgan Chase & Co. accounts for approximately 4.8% of Osher Van de Voorde Investment Management’s holdings, making the stock its 3rd biggest position. Osher Van de Voorde Investment Management’s holdings in JPMorgan Chase & Co. were worth $18,834,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of JPM. Bank Julius Baer & Co. Ltd Zurich raised its stake in JPMorgan Chase & Co. by 97,681.8% during 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 purchasing an additional 2,054,643,659 shares during the last quarter. Moneta Group Investment Advisors LLC raised its stake 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 buying an additional 97,907,897 shares in the last quarter. Norges Bank acquired a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at $3,894,646,000. Morgan Stanley raised its stake 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 buying an additional 8,088,433 shares in the last quarter. Finally, Providence Capital Advisors LLC raised its stake in shares of JPMorgan Chase & Co. by 13,205.6% in the 1st quarter. Providence Capital Advisors LLC now owns 5,395,818 shares of the financial services provider’s stock valued at $41,407,000 after buying an additional 5,355,265 shares in the last quarter. 68.94% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of equities analysts have recently issued reports on the stock. HSBC assumed coverage on shares of JPMorgan Chase & Co. in a research note on Thursday, September 7th. They issued a “hold” rating and a $159.00 price objective for the company. Piper Sandler increased their price objective on shares of JPMorgan Chase & Co. from $158.00 to $168.00 in a research note on Monday, July 17th. Morgan Stanley increased their price objective on shares of JPMorgan Chase & Co. from $179.00 to $187.00 and gave the company an “overweight” rating in a research note on Tuesday, October 3rd. Wolfe Research upgraded shares of JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $170.00 price objective for the company in a research note on Friday, July 7th. Finally, 888 reaffirmed a “maintains” rating on shares of JPMorgan Chase & Co. in a report on Monday, June 26th. Eight analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $168.47.
JPMorgan Chase & Co. Stock Down 0.2 %
Shares of NYSE:JPM opened at $145.81 on Friday. JPMorgan Chase & Co. has a 12 month low of $101.76 and a 12 month high of $159.38. The company’s 50-day moving average price is $147.77 and its two-hundred day moving average price is $143.19. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.28. The firm has a market cap of $423.74 billion, a P/E ratio of 9.38, a P/E/G ratio of 1.85 and a beta of 1.10.
JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last issued its quarterly earnings data on Friday, July 14th. The financial services provider reported $4.37 EPS for the quarter, topping analysts’ consensus estimates of $3.62 by $0.75. JPMorgan Chase & Co. had a net margin of 23.45% and a return on equity of 17.29%. The firm had revenue of $42.40 billion for the quarter, compared to analyst estimates of $38.66 billion. During the same quarter in the prior year, the firm earned $2.76 EPS. The company’s revenue was up 34.1% on a year-over-year basis. As a group, research 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 disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, October 6th will be issued a dividend of $1.05 per share. The ex-dividend date is Thursday, October 5th. This represents a $4.20 dividend on an annualized basis and a yield of 2.88%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.00. JPMorgan Chase & Co.’s dividend payout ratio is currently 27.03%.
Insiders Place Their Bets
In other news, General Counsel Stacey Friedman sold 4,310 shares of the firm’s stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $144.86, for a total value of $624,346.60. Following the transaction, the general counsel now owns 53,425 shares of the company’s stock, valued at approximately $7,739,145.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.79% of the company’s stock.
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.
- 5 Top Rated Dividend Stocks to Consider
- Delta is About to Take Flight For Loftier Price Points
- Stock Ratings and Recommendations: Understanding Analyst Ratings
- Domino’s Pizza Delivers an Attractive Entry for Income Investors
- Consumer Staples Stocks, Explained
- Prescriptions for Portfolio Health: 3 Resilient Healthcare Stocks
Want to see what other hedge funds are holding JPM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for JPMorgan Chase & Co. (NYSE:JPM – Free Report).
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.
