Conning Inc. lessened its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 7.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 109,643 shares of the financial services provider’s stock after selling 8,233 shares during the period. Conning Inc.’s holdings in JPMorgan Chase & Co. were worth $12,057,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in JPM. Mackenzie Financial Corp raised its stake in JPMorgan Chase & Co. by 421.0% during the fourth quarter. Mackenzie Financial Corp now owns 3,427,864 shares of the financial services provider’s stock worth $366,576,000 after buying an additional 2,769,926 shares during the last quarter. ADAMCAPITAL Gestao de Recursos Ltda. bought a new stake in JPMorgan Chase & Co. in the fourth quarter valued at $262,139,000. Jennison Associates LLC increased its stake in JPMorgan Chase & Co. by 11.7% in the fourth quarter. Jennison Associates LLC now owns 17,180,823 shares of the financial services provider’s stock valued at $1,837,317,000 after purchasing an additional 1,804,721 shares in the last quarter. Atlantic Trust Group LLC increased its stake in JPMorgan Chase & Co. by 62.6% in the third quarter. Atlantic Trust Group LLC now owns 4,398,186 shares of the financial services provider’s stock valued at $420,070,000 after purchasing an additional 1,692,999 shares in the last quarter. Finally, Mackay Shields LLC bought a new stake in JPMorgan Chase & Co. in the first quarter valued at $139,822,000. 72.01% of the stock is owned by institutional investors and hedge funds.
In other news, Director Todd A. Combs purchased 13,000 shares of the business’s stock in a transaction that occurred on Monday, May 14th. The shares were acquired 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 owns 18,277 shares in the company, valued at $2,094,726.97. The acquisition was disclosed in a document filed 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 shares were purchased 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. Over the last 90 days, insiders have purchased 53,000 shares of company stock worth $25,488,830. 0.73% of the stock is owned by corporate insiders.
Several equities research analysts have weighed in on the stock. Zacks Investment Research downgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “sell” rating in a research note on Monday, July 2nd. BMO Capital Markets reaffirmed a “hold” rating and issued a $110.00 price target on shares of JPMorgan Chase & Co. in a research note on Friday, April 13th. Morgan Stanley decreased their price target on shares of JPMorgan Chase & Co. from $138.00 to $135.00 and set an “overweight” rating for the company in a research note on Monday, April 30th. ValuEngine downgraded shares of JPMorgan Chase & Co. from a “buy” rating to a “hold” rating in a research note on Monday, April 2nd. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $122.00 price target on shares of JPMorgan Chase & Co. in a research note on Monday, April 16th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and fourteen have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $115.06.
Shares of NYSE JPM opened at $104.06 on Friday. The stock has a market cap of $355.59 billion, a PE ratio of 15.15, a price-to-earnings-growth ratio of 1.72 and a beta of 1.20. JPMorgan Chase & Co. has a 1 year low of $88.08 and a 1 year high of $119.33. 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 issued its quarterly earnings data on Friday, April 13th. The financial services provider reported $2.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.28 by $0.09. JPMorgan Chase & Co. had a net margin of 22.53% and a return on equity of 12.60%. The firm had revenue of $27.90 billion during the quarter, compared to analysts’ expectations of $27.73 billion. During the same period last year, the company earned $1.65 earnings per share. The business’s revenue was up 12.0% on a year-over-year basis. research analysts anticipate that JPMorgan Chase & Co. will post 9.03 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 31st. Investors of record on Friday, July 6th will be issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 2.15%. The ex-dividend date of this dividend is Thursday, July 5th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 32.61%.
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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