Independent Advisor Alliance increased its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 5.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 177,344 shares of the financial services provider’s stock after purchasing an additional 8,622 shares during the quarter. JPMorgan Chase & Co. makes up approximately 1.1% of Independent Advisor Alliance’s holdings, making the stock its 16th largest holding. Independent Advisor Alliance’s holdings in JPMorgan Chase & Co. were worth $25,793,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of the business. Bank Julius Baer & Co. Ltd Zurich boosted 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 worth $299,133,293,000 after purchasing an additional 2,054,643,659 shares in the last quarter. Moneta Group Investment Advisors LLC boosted 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 worth $13,141,876,000 after purchasing an additional 97,907,897 shares in the last quarter. Norges Bank bought a new stake in shares of JPMorgan Chase & Co. in the 4th quarter worth approximately $3,894,646,000. Morgan Stanley raised its holdings in 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 last quarter. Finally, Providence Capital Advisors LLC raised its holdings in 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 worth $41,407,000 after acquiring an additional 5,355,265 shares during the last quarter. 68.94% of the stock is owned by institutional investors.
Insider Buying and Selling
In related 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 transaction of $624,346.60. Following the completion of the transaction, the general counsel now owns 53,425 shares of the company’s stock, valued at $7,739,145.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.79% of the stock is currently owned by corporate insiders.
JPMorgan Chase & Co. Trading Down 1.6 %
JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last issued its earnings results on Friday, October 13th. The financial services provider reported $4.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.95 by $0.38. JPMorgan Chase & Co. had a net margin of 22.79% and a return on equity of 17.97%. The firm had revenue of $40.69 billion during the quarter, compared to analysts’ expectations of $39.63 billion. During the same quarter last year, the company posted $3.12 earnings per share. The firm’s revenue was up 24.4% compared to the same quarter last year. On average, analysts forecast that JPMorgan Chase & Co. will post 16.31 earnings per share for the current year.
JPMorgan Chase & Co. Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, October 6th will be issued a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a dividend yield of 2.94%. The ex-dividend date of this dividend is Thursday, October 5th. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.00. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 25.07%.
Wall Street Analyst Weigh In
JPM has been the subject of a number of recent analyst reports. Morgan Stanley boosted their price objective on shares of JPMorgan Chase & Co. from $187.00 to $191.00 and gave the stock an “overweight” rating in a report on Monday, October 16th. Credit Suisse Group boosted their target price on shares of JPMorgan Chase & Co. from $160.00 to $170.00 in a research note on Monday, July 17th. Jefferies Financial Group decreased their target price on shares of JPMorgan Chase & Co. from $176.00 to $169.00 in a research note on Tuesday, October 10th. BMO Capital Markets boosted their target price on shares of JPMorgan Chase & Co. from $167.00 to $171.00 and gave the company a “market perform” rating in a research note on Monday, October 16th. Finally, Barclays boosted their target price on shares of JPMorgan Chase & Co. from $179.00 to $182.00 in a research note on Sunday, July 16th. Eight investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $169.79.
Get Our Latest Research Report 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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