Pegasus Asset Management Inc. boosted its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 5.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 23,272 shares of the financial services provider’s stock after acquiring an additional 1,136 shares during the period. JPMorgan Chase & Co. accounts for about 2.4% of Pegasus Asset Management Inc.’s investment portfolio, making the stock its 10th largest position. Pegasus Asset Management Inc.’s holdings in JPMorgan Chase & Co. were worth $2,559,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Keeler Thomas Management LLC purchased a new stake in JPMorgan Chase & Co. during the 4th quarter valued at approximately $112,000. Cerebellum GP LLC purchased a new position in shares of JPMorgan Chase & Co. in the fourth quarter valued at $119,000. Price Wealth Management Inc. purchased a new position in shares of JPMorgan Chase & Co. in the fourth quarter valued at $124,000. Americafirst Capital Management LLC purchased a new position in shares of JPMorgan Chase & Co. in the third quarter valued at $143,000. Finally, FSI Group LLC purchased a new position in shares of JPMorgan Chase & Co. in the fourth quarter valued at $159,000. Institutional investors own 71.98% of the company’s stock.
NYSE:JPM opened at $105.75 on Monday. JPMorgan Chase & Co. has a twelve month low of $86.61 and a twelve month high of $119.33. The firm has a market cap of $362.93 billion, a PE ratio of 13.72, a price-to-earnings-growth ratio of 1.76 and a beta of 1.21. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.19.
JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Friday, April 13th. The financial services provider reported $2.37 earnings per share 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 business had revenue of $27.90 billion during the quarter, compared to the consensus estimate of $27.73 billion. During the same period last year, the company earned $1.65 earnings per share. The business’s revenue for the quarter was up 12.0% compared to the same quarter last year. sell-side analysts anticipate that JPMorgan Chase & Co. will post 9.03 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 31st. Investors of record on Friday, July 6th will be issued a $0.56 dividend. The ex-dividend date of this dividend is Thursday, July 5th. This represents a $2.24 annualized dividend and a dividend yield of 2.12%. JPMorgan Chase & Co.’s payout ratio is currently 32.61%.
A number of research analysts recently weighed in on JPM shares. Edward Jones raised shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating in a report on Thursday, March 22nd. Zacks Investment Research raised shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and set a $129.00 price objective for the company in a research note on Monday, March 19th. Vining Sparks reaffirmed a “buy” rating and set a $130.00 price objective on shares of JPMorgan Chase & Co. in a research note on Friday, April 6th. Vetr lowered shares of JPMorgan Chase & Co. from a “strong-buy” rating to a “buy” rating and set a $123.29 price objective for the company. in a research note on Thursday, April 5th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $122.00 price objective on shares of JPMorgan Chase & Co. in a research note on Monday, April 16th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and fourteen have assigned a buy rating to the stock. JPMorgan Chase & Co. presently has an average rating of “Hold” and an average price target of $114.06.
In other news, Director Todd A. Combs acquired 13,000 shares of the firm’s stock in a transaction that occurred on Monday, May 14th. The stock was purchased at an average cost of $114.61 per share, for a total transaction of $1,489,930.00. Following the completion of the acquisition, the director now directly owns 18,277 shares of the company’s stock, valued at approximately $2,094,726.97. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Chase & Co Jpmorgan acquired 22,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 31st. The stock was purchased at an average price of $1,000.00 per share, with a total value of $22,000,000.00. The disclosure for this purchase can be found here. Insiders purchased 53,000 shares of company stock valued at $25,488,830 over the last 90 days. 0.73% of the stock is currently owned by corporate insiders.
JPMorgan Chase & Co. Profile
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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