Adell Harriman & Carpenter Inc. lifted its position in JPMorgan Chase & Co. (NYSE:JPM) by 1.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 113,845 shares of the financial services provider’s stock after purchasing an additional 1,463 shares during the period. JPMorgan Chase & Co. accounts for about 1.6% of Adell Harriman & Carpenter Inc.’s investment portfolio, making the stock its 17th biggest position. Adell Harriman & Carpenter Inc.’s holdings in JPMorgan Chase & Co. were worth $14,835,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Moneta Group Investment Advisors LLC grew its position in shares of JPMorgan Chase & Co. by 105,652.2% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 98,000,567 shares of the financial services provider’s stock worth $13,141,876,000 after buying an additional 97,907,897 shares in the last quarter. Morgan Stanley lifted its stake in JPMorgan Chase & Co. by 15.9% in the fourth quarter. Morgan Stanley now owns 59,049,256 shares of the financial services provider’s stock worth $7,918,506,000 after acquiring an additional 8,088,433 shares during the period. Geode Capital Management LLC grew its holdings in JPMorgan Chase & Co. by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 51,248,625 shares of the financial services provider’s stock worth $6,859,512,000 after acquiring an additional 1,082,325 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in JPMorgan Chase & Co. by 71.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 30,484,094 shares of the financial services provider’s stock valued at $4,087,917,000 after purchasing an additional 12,654,947 shares during the period. Finally, Norges Bank purchased a new stake in shares of JPMorgan Chase & Co. in the 4th quarter worth approximately $3,894,646,000. Institutional investors own 70.10% of the company’s stock.
Insider Activity at JPMorgan Chase & Co.
In other JPMorgan Chase & Co. news, CEO Daniel E. Pinto sold 113,640 shares of the stock in a transaction that occurred on Thursday, May 11th. The stock was sold at an average price of $135.93, for a total transaction of $15,447,085.20. Following the transaction, the chief executive officer now owns 566,665 shares in the company, valued at $77,026,773.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Daniel E. Pinto sold 113,640 shares of JPMorgan Chase & Co. stock in a transaction on Thursday, May 11th. The shares were sold at an average price of $135.93, for a total value of $15,447,085.20. Following the sale, the chief executive officer now owns 566,665 shares of the company’s stock, valued at approximately $77,026,773.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Vice Chairman Peter Scher sold 1,240 shares of the company’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $135.02, for a total transaction of $167,424.80. Following the transaction, the insider now owns 45,056 shares of the company’s stock, valued at $6,083,461.12. The disclosure for this sale can be found here. Insiders sold a total of 145,861 shares of company stock worth $19,858,275 in the last 90 days. Corporate insiders own 0.79% of the company’s stock.
JPMorgan Chase & Co. Trading Up 0.6 %
JPMorgan Chase & Co. stock opened at $156.91 on Monday. The firm has a market cap of $458.54 billion, a PE ratio of 10.10, a P/E/G ratio of 2.06 and a beta of 1.10. JPMorgan Chase & Co. has a 12 month low of $101.28 and a 12 month high of $158.79. The stock’s 50 day simple moving average is $144.35 and its two-hundred day simple moving average is $139.28. The company has a current ratio of 0.90, a quick ratio of 0.85 and a debt-to-equity ratio of 1.28.
JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last announced its quarterly earnings results on Friday, July 14th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.62 by $0.75. The firm had revenue of $42.40 billion for the quarter, compared to the consensus estimate of $38.66 billion. JPMorgan Chase & Co. had a net margin of 23.45% and a return on equity of 17.29%. The firm’s quarterly revenue was up 34.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.76 earnings per share. Analysts anticipate that JPMorgan Chase & Co. will post 15.23 earnings per share for the current year.
JPMorgan Chase & Co. Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 31st. Stockholders of record on Thursday, July 6th will be given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date is Wednesday, July 5th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 25.74%.
Analysts Set New Price Targets
A number of brokerages have commented on JPM. Barclays boosted their target price on shares of JPMorgan Chase & Co. from $179.00 to $182.00 in a report on Sunday, July 16th. BMO Capital Markets lifted their price target on shares of JPMorgan Chase & Co. from $169.00 to $170.00 in a report on Tuesday, May 2nd. Citigroup downgraded JPMorgan Chase & Co. from a “buy” rating to a “neutral” rating and set a $160.00 price target on the stock. in a research report on Wednesday, July 12th. Societe Generale downgraded JPMorgan Chase & Co. from a “buy” rating to a “hold” rating in a research note on Monday, July 10th. Finally, The Goldman Sachs Group upped their price objective on shares of JPMorgan Chase & Co. from $160.00 to $172.00 in a report on Friday, April 14th. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $164.65.
About JPMorgan Chase & Co.
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, investment and lending products, cash management, and payments and services to consumers and small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services.
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