Baron Silver Stevens Financial Advisors LLC boosted its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 60.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,828 shares of the financial services provider’s stock after buying an additional 2,195 shares during the quarter. Baron Silver Stevens Financial Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $848,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. 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 purchasing an additional 2,054,643,659 shares during the last quarter. Moneta Group Investment Advisors LLC lifted 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 worth $13,141,876,000 after acquiring an additional 97,907,897 shares during the period. Norges Bank acquired a new stake in shares of JPMorgan Chase & Co. in the 4th quarter worth $3,894,646,000. Morgan Stanley lifted 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 worth $7,918,506,000 after acquiring an additional 8,088,433 shares during the period. Finally, Providence Capital Advisors LLC lifted its stake in shares of JPMorgan Chase & Co. by 13,205.6% in the first quarter. Providence Capital Advisors LLC now owns 5,395,818 shares of the financial services provider’s stock valued at $41,407,000 after purchasing an additional 5,355,265 shares during the period. 68.94% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity
In other news, General Counsel Stacey Friedman sold 4,310 shares of the firm’s stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $144.86, for a total value of $624,346.60. Following the sale, the general counsel now owns 53,425 shares in the company, valued at $7,739,145.50. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.79% of the company’s stock.
JPMorgan Chase & Co. Price Performance
JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last posted its quarterly earnings results on Friday, July 14th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.62 by $0.75. The business had revenue of $42.40 billion during 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%. The firm’s revenue was up 34.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.76 earnings per share. Equities research analysts predict that JPMorgan Chase & Co. will post 15.68 earnings per share for the current fiscal year.
JPMorgan Chase & Co. Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, October 6th will be given a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a yield of 2.88%. The ex-dividend date is Thursday, October 5th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.00. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 27.03%.
Analyst Ratings Changes
Several equities analysts have weighed in on JPM shares. Credit Suisse Group raised their target price on shares of JPMorgan Chase & Co. from $160.00 to $170.00 in a report on Monday, July 17th. StockNews.com started coverage on shares of JPMorgan Chase & Co. in a report on Thursday, October 5th. They issued a “hold” rating for the company. Evercore ISI boosted their target price on shares of JPMorgan Chase & Co. from $158.00 to $167.00 in a report on Thursday, October 5th. HSBC assumed coverage on shares of JPMorgan Chase & Co. in a research report on Thursday, September 7th. They set a “hold” rating and a $159.00 price target on the stock. Finally, Atlantic Securities upped their target price on shares of JPMorgan Chase & Co. from $150.00 to $160.00 and gave the company a “neutral” rating in a research note on Tuesday, August 1st. Eight analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, JPMorgan Chase & Co. has a consensus rating of “Moderate Buy” and a consensus price target of $168.47.
Read Our Latest Stock Analysis on JPM
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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