Zurich Insurance Group Ltd FI lessened its position in JPMorgan Chase & Co. (NYSE:JPM) by 10.1% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 670,890 shares of the financial services provider’s stock after selling 75,580 shares during the period. JPMorgan Chase & Co. comprises about 1.5% of Zurich Insurance Group Ltd FI’s holdings, making the stock its 9th biggest position. Zurich Insurance Group Ltd FI’s holdings in JPMorgan Chase & Co. were worth $75,006,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of the company. Tuttle Tactical Management raised its stake in JPMorgan Chase & Co. by 135.2% during the 4th quarter. Tuttle Tactical Management now owns 40,369 shares of the financial services provider’s stock worth $3,941,000 after acquiring an additional 23,207 shares in the last quarter. Ford Financial Group Inc. bought a new position in JPMorgan Chase & Co. in the 4th quarter valued at about $1,564,000. Telos Capital Management Inc. grew its position in JPMorgan Chase & Co. by 14.8% in the 4th quarter. Telos Capital Management Inc. now owns 22,517 shares of the financial services provider’s stock valued at $2,198,000 after buying an additional 2,900 shares in the last quarter. Cordatus Wealth Management LLC bought a new position in JPMorgan Chase & Co. in the 4th quarter valued at about $499,000. Finally, Biegel & Waller LLC grew its position in JPMorgan Chase & Co. by 3.9% in the 4th quarter. Biegel & Waller LLC now owns 2,875 shares of the financial services provider’s stock valued at $281,000 after buying an additional 107 shares in the last quarter. 71.89% of the stock is owned by institutional investors and hedge funds.
In related news, Director Mellody L. Hobson purchased 18,200 shares of the stock in a transaction on Thursday, August 8th. The shares were bought at an average price of $109.91 per share, for a total transaction of $2,000,362.00. Following the completion of the acquisition, the director now directly owns 7,804 shares in the company, valued at approximately $857,737.64. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Peter Scher sold 10,816 shares of the stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $115.00, for a total value of $1,243,840.00. The disclosure for this sale can be found here. 0.76% of the stock is owned by corporate insiders.
Shares of NYSE JPM traded up $0.25 during mid-day trading on Friday, reaching $119.63. The company had a trading volume of 9,716,236 shares, compared to its average volume of 10,653,990. The stock has a fifty day moving average of $111.17 and a two-hundred day moving average of $110.13. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.97 and a current ratio of 0.97. The company has a market capitalization of $379.13 billion, a price-to-earnings ratio of 13.29, a PEG ratio of 1.71 and a beta of 1.19. JPMorgan Chase & Co. has a 12-month low of $91.11 and a 12-month high of $120.40.
JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $2.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.50 by $0.32. The business had revenue of $28.83 billion during the quarter, compared to analyst estimates of $28.52 billion. JPMorgan Chase & Co. had a net margin of 24.73% and a return on equity of 14.40%. The firm’s revenue was up 3.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.29 earnings per share. Sell-side analysts forecast that JPMorgan Chase & Co. will post 9.88 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.01%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $0.80. JPMorgan Chase & Co.’s dividend payout ratio is 35.56%.
JPM has been the subject of a number of recent analyst reports. Royal Bank of Canada reiterated a “buy” rating and issued a $120.00 target price on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 16th. Wells Fargo & Co set a $125.00 price objective on shares of JPMorgan Chase & Co. and gave the company a “buy” rating in a research report on Friday, August 16th. Deutsche Bank reaffirmed a “neutral” rating on shares of JPMorgan Chase & Co. in a research note on Friday, June 28th. Buckingham Research lowered shares of JPMorgan Chase & Co. from a “buy” rating to a “neutral” rating and set a $122.00 price objective for the company. in a research note on Monday. They noted that the move was a valuation call. Finally, Morgan Stanley set a $122.00 price objective on shares of JPMorgan Chase & Co. and gave the company a “buy” rating in a research note on Friday, August 9th. Thirteen analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $121.94.
JPMorgan Chase & Co. Company 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 and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit card, payment processing, auto loan, and leasing services.
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