Inverness Counsel LLC NY lifted its position in JPMorgan Chase & Co. (NYSE:JPM) by 29.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 420,155 shares of the financial services provider’s stock after purchasing an additional 95,421 shares during the quarter. JPMorgan Chase & Co. accounts for about 2.8% of Inverness Counsel LLC NY’s holdings, making the stock its 7th largest holding. Inverness Counsel LLC NY’s holdings in JPMorgan Chase & Co. were worth $46,204,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of JPM. Stifel Financial Corp boosted its holdings in JPMorgan Chase & Co. by 9,301.6% during the 3rd quarter. Stifel Financial Corp now owns 4,351,736 shares of the financial services provider’s stock valued at $415,662,000 after acquiring an additional 4,305,449 shares during the period. Mackenzie Financial Corp boosted its holdings in JPMorgan Chase & Co. by 421.0% during the 4th quarter. Mackenzie Financial Corp now owns 3,427,864 shares of the financial services provider’s stock valued at $366,576,000 after acquiring an additional 2,769,926 shares during the period. ADAMCAPITAL Gestao de Recursos Ltda. purchased a new stake in JPMorgan Chase & Co. during the 4th quarter valued at about $262,139,000. Jennison Associates LLC boosted its holdings in JPMorgan Chase & Co. by 11.7% during the 4th quarter. Jennison Associates LLC now owns 17,180,823 shares of the financial services provider’s stock valued at $1,837,317,000 after acquiring an additional 1,804,721 shares during the period. Finally, Atlantic Trust Group LLC boosted its holdings in JPMorgan Chase & Co. by 62.6% during the 3rd quarter. Atlantic Trust Group LLC now owns 4,398,186 shares of the financial services provider’s stock valued at $420,070,000 after acquiring an additional 1,692,999 shares during the period. Hedge funds and other institutional investors own 71.98% of the company’s stock.
Shares of JPMorgan Chase & Co. opened at $105.75 on Friday, Marketbeat reports. JPMorgan Chase & Co. has a 52-week low of $86.61 and a 52-week high of $119.33. The company has a market capitalization of $368.97 billion, a PE ratio of 13.94, a PEG ratio of 1.79 and a beta of 1.21. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.01 and a quick ratio of 1.01.
JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Friday, April 13th. The financial services provider reported $2.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.28 by $0.09. JPMorgan Chase & Co. had a return on equity of 12.60% and a net margin of 22.53%. The firm had revenue of $27.90 billion during the quarter, compared to analyst estimates of $27.73 billion. During the same quarter in the prior year, the company earned $1.65 EPS. The business’s revenue was up 12.0% compared to the same quarter last year. equities research analysts forecast that JPMorgan Chase & Co. will post 9.03 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 31st. Stockholders of record on Friday, July 6th will be given a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend is Thursday, July 5th. JPMorgan Chase & Co.’s dividend payout ratio is currently 32.61%.
Several equities research analysts recently weighed in on JPM shares. Zacks Investment Research upgraded JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and set a $129.00 target price for the company in a report on Monday, March 19th. Edward Jones upgraded JPMorgan Chase & Co. from a “hold” rating to a “buy” rating in a report on Thursday, March 22nd. Credit Suisse Group increased their target price on JPMorgan Chase & Co. from $125.00 to $127.00 and gave the company an “outperform” rating in a report on Monday, March 19th. Vetr cut JPMorgan Chase & Co. from a “strong-buy” rating to a “buy” rating and set a $123.29 target price for the company. in a report on Thursday, April 5th. Finally, HSBC started coverage on JPMorgan Chase & Co. in a report on Wednesday, April 11th. They set a “hold” rating and a $111.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and fourteen have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $114.06.
In related news, Director Mellody L. Hobson purchased 18,000 shares of the business’s stock in a transaction that occurred on Monday, April 16th. The shares were bought at an average price of $111.05 per share, for a total transaction of $1,998,900.00. Following the purchase, the director now directly owns 864 shares of the company’s stock, valued at approximately $95,947.20. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Chase & Co Jpmorgan purchased 22,000 shares of the business’s stock in a transaction that occurred on Thursday, May 31st. The stock was bought at an average price of $1,000.00 per share, for a total transaction of $22,000,000.00. The disclosure for this purchase can be found here. Insiders bought a total of 53,000 shares of company stock valued at $25,488,830 in the last three months. Corporate insiders own 0.73% of the company’s stock.
About JPMorgan Chase & Co.
JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking, and Asset & Wealth Management. The Consumer & Community Banking segment offers deposit and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; residential mortgages and home equity loans; and credit cards, payment processing services, auto loans and leases.
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