Investors Buy JPMorgan Chase & Co. (JPM) on Weakness

Investors bought shares of JPMorgan Chase & Co. (NYSE:JPM) on weakness during trading hours on Thursday. $469.78 million flowed into the stock on the tick-up and $374.04 million flowed out of the stock on the tick-down, for a money net flow of $95.74 million into the stock. Of all equities tracked, JPMorgan Chase & Co. had the 3rd highest net in-flow for the day. JPMorgan Chase & Co. traded down ($1.65) for the day and closed at $102.87

JPM has been the topic of several analyst reports. Credit Suisse Group cut their price target on shares of JPMorgan Chase & Co. from $130.00 to $128.00 and set an “outperform” rating on the stock in a report on Friday, December 7th. Barclays boosted their price target on shares of JPMorgan Chase & Co. from $135.00 to $140.00 and gave the stock an “overweight” rating in a report on Wednesday, January 2nd. Daiwa Capital Markets cut shares of JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a report on Friday, February 8th. Zacks Investment Research cut shares of JPMorgan Chase & Co. from a “hold” rating to a “sell” rating in a report on Wednesday, December 19th. Finally, Wells Fargo & Co restated a “buy jpm” rating on shares of JPMorgan Chase & Co. in a report on Thursday, December 20th. One analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $122.87.

The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.22. The company has a market cap of $353.05 billion, a price-to-earnings ratio of 11.08, a PEG ratio of 1.59 and a beta of 1.12.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Tuesday, January 15th. The financial services provider reported $1.98 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.20 by ($0.22). The company had revenue of $26.10 billion during the quarter, compared to analysts’ expectations of $26.69 billion. JPMorgan Chase & Co. had a net margin of 24.71% and a return on equity of 14.07%. The firm’s revenue was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.76 earnings per share. As a group, analysts expect that JPMorgan Chase & Co. will post 9.73 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, April 5th will be paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date is Thursday, April 4th. JPMorgan Chase & Co.’s payout ratio is currently 35.56%.

In related news, insider Ashley Bacon sold 5,831 shares of the company’s stock in a transaction that occurred on Wednesday, January 16th. The shares were sold at an average price of $102.78, for a total transaction of $599,310.18. Following the sale, the insider now directly owns 98,838 shares in the company, valued at approximately $10,158,569.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director James S. Crown purchased 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 5th. The shares were acquired at an average price of $103.79 per share, for a total transaction of $518,950.00. Following the completion of the purchase, the director now directly owns 311,447 shares in the company, valued at approximately $32,325,084.13. The disclosure for this purchase can be found here. Insiders have sold a total of 39,191 shares of company stock worth $4,102,110 over the last 90 days. 0.73% of the stock is currently owned by corporate insiders.

Hedge funds have recently made changes to their positions in the stock. Arizona State Retirement System increased its holdings in shares of JPMorgan Chase & Co. by 1.7% in the 2nd quarter. Arizona State Retirement System now owns 941,217 shares of the financial services provider’s stock worth $98,075,000 after buying an additional 15,944 shares during the last quarter. EFG Asset Management Americas Corp. increased its holdings in shares of JPMorgan Chase & Co. by 32.4% in the 2nd quarter. EFG Asset Management Americas Corp. now owns 55,451 shares of the financial services provider’s stock worth $5,829,000 after buying an additional 13,556 shares during the last quarter. Quantitative Systematic Strategies LLC bought a new position in shares of JPMorgan Chase & Co. in the 2nd quarter worth $2,685,000. Cadinha & Co. LLC increased its holdings in shares of JPMorgan Chase & Co. by 2.2% in the 2nd quarter. Cadinha & Co. LLC now owns 144,530 shares of the financial services provider’s stock worth $15,060,000 after buying an additional 3,146 shares during the last quarter. Finally, IPG Investment Advisors LLC increased its holdings in shares of JPMorgan Chase & Co. by 12.8% in the 2nd quarter. IPG Investment Advisors LLC now owns 4,774 shares of the financial services provider’s stock worth $497,000 after buying an additional 540 shares during the last quarter. Institutional investors own 68.96% of the company’s stock.

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About JPMorgan Chase & Co. (NYSE:JPM)

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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