Pekin Singer Strauss Asset Management IL cut its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 14.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 24,708 shares of the financial services provider’s stock after selling 4,300 shares during the quarter. Pekin Singer Strauss Asset Management IL’s holdings in JPMorgan Chase & Co. were worth $2,717,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of JPM. Keeler Thomas Management LLC bought a new position in shares of JPMorgan Chase & Co. during the fourth quarter valued at $112,000. Cerebellum GP LLC bought a new position in shares of JPMorgan Chase & Co. during the fourth quarter valued at $119,000. Price Wealth Management Inc. bought a new position in shares of JPMorgan Chase & Co. during the fourth quarter valued at $124,000. Americafirst Capital Management LLC bought a new position in shares of JPMorgan Chase & Co. during the third quarter valued at $143,000. Finally, FSI Group LLC bought a new position in shares of JPMorgan Chase & Co. during the fourth quarter valued at $159,000. 72.00% of the stock is owned by institutional investors.
A number of research analysts have issued reports on JPM shares. Zacks Investment Research raised JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and set a $129.00 price objective 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 research note on Thursday, March 22nd. Credit Suisse Group raised their target price on JPMorgan Chase & Co. from $125.00 to $127.00 and gave the company an “outperform” rating in a research note on Monday, March 19th. Vetr lowered JPMorgan Chase & Co. from a “strong-buy” rating to a “buy” rating and set a $123.29 target price for the company. in a research note on Thursday, April 5th. Finally, HSBC initiated coverage on JPMorgan Chase & Co. in a research note on Wednesday, April 11th. They issued 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’s stock. JPMorgan Chase & Co. presently has an average rating of “Hold” and a consensus target price of $114.06.
In related news, Director Chase & Co Jpmorgan bought 22,000 shares of the firm’s stock in a transaction dated Thursday, May 31st. The stock was bought at an average cost of $1,000.00 per share, for a total transaction of $22,000,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Todd A. Combs bought 13,000 shares of the firm’s stock in a transaction dated Monday, May 14th. The shares were bought at an average price of $114.61 per share, with a total value of $1,489,930.00. Following the completion of the transaction, the director now directly owns 18,277 shares in the company, valued at approximately $2,094,726.97. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 53,000 shares of company stock valued at $25,488,830. Corporate insiders own 0.73% of the company’s stock.
Shares of JPM stock opened at $104.86 on Wednesday. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market capitalization of $359.64 billion, a P/E ratio of 15.26, a PEG ratio of 1.74 and a beta of 1.21. JPMorgan Chase & Co. has a 12 month low of $87.50 and a 12 month high of $119.33.
JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Friday, April 13th. The financial services provider reported $2.37 EPS for the quarter, topping the Zacks’ consensus estimate of $2.28 by $0.09. The firm had revenue of $27.90 billion during the quarter, compared to analyst estimates of $27.73 billion. JPMorgan Chase & Co. had a return on equity of 12.60% and a net margin of 22.53%. The company’s revenue was up 12.0% on a year-over-year basis. During the same period last year, the company earned $1.65 earnings per share. equities analysts anticipate that JPMorgan Chase & Co. will post 9.03 earnings per share for the current fiscal 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 given a $0.56 dividend. The ex-dividend date of this dividend is Thursday, July 5th. This represents a $2.24 dividend on an annualized basis and a yield of 2.14%. JPMorgan Chase & Co.’s payout ratio is 32.61%.
JPMorgan Chase & Co. Company 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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