Oppenheimer & Co. Inc. lifted its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 24.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 429,041 shares of the financial services provider’s stock after buying an additional 85,507 shares during the period. JPMorgan Chase & Co. comprises approximately 1.2% of Oppenheimer & Co. Inc.’s investment portfolio, making the stock its 8th biggest position. Oppenheimer & Co. Inc.’s holdings in JPMorgan Chase & Co. were worth $38,627,000 as of its most recent filing with the SEC.
Several other large investors also recently made changes to their positions in the company. Capital World Investors increased its holdings in JPMorgan Chase & Co. by 1.9% in the fourth quarter. Capital World Investors now owns 82,845,612 shares of the financial services provider’s stock valued at $11,548,674,000 after purchasing an additional 1,531,579 shares during the period. FMR LLC increased its holdings in JPMorgan Chase & Co. by 0.4% in the fourth quarter. FMR LLC now owns 55,512,219 shares of the financial services provider’s stock valued at $7,738,402,000 after purchasing an additional 202,379 shares during the period. Geode Capital Management LLC increased its holdings in JPMorgan Chase & Co. by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 44,411,768 shares of the financial services provider’s stock valued at $6,178,292,000 after purchasing an additional 595,401 shares during the period. Bank of New York Mellon Corp increased its holdings in JPMorgan Chase & Co. by 0.6% in the first quarter. Bank of New York Mellon Corp now owns 31,592,855 shares of the financial services provider’s stock valued at $2,844,306,000 after purchasing an additional 175,979 shares during the period. Finally, Norges Bank acquired a new stake in JPMorgan Chase & Co. in the fourth quarter valued at $3,908,541,000. Institutional investors own 73.01% of the company’s stock.
In other JPMorgan Chase & Co. news, Director Stephen B. Burke purchased 75,000 shares of the company’s stock in a transaction that occurred on Thursday, April 16th. The shares were acquired at an average price of $87.99 per share, with a total value of $6,599,250.00. Following the transaction, the director now owns 150,043 shares in the company, valued at $13,202,283.57. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Ashley Bacon sold 13,027 shares of the firm’s stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $91.12, for a total transaction of $1,187,020.24. Following the completion of the transaction, the insider now directly owns 137,243 shares in the company, valued at approximately $12,505,582.16. The disclosure for this sale can be found here. 0.78% of the stock is currently owned by company insiders.
A number of analysts recently weighed in on JPM shares. Morgan Stanley decreased their price objective on JPMorgan Chase & Co. from $109.00 to $101.00 and set an “overweight” rating for the company in a report on Wednesday, April 15th. DA Davidson increased their price objective on JPMorgan Chase & Co. from $91.00 to $97.00 and gave the company a “neutral” rating in a report on Wednesday, April 15th. Deutsche Bank reaffirmed a “neutral” rating and set a $105.00 price target (down previously from $130.00) on shares of JPMorgan Chase & Co. in a research report on Thursday, April 2nd. Societe Generale raised shares of JPMorgan Chase & Co. from a “sell” rating to a “buy” rating in a research report on Tuesday, April 14th. Finally, Wells Fargo & Co cut their price target on shares of JPMorgan Chase & Co. from $140.00 to $125.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 1st. Ten investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $109.75.
JPM stock opened at $89.47 on Friday. The stock has a market capitalization of $274.75 billion, a PE ratio of 10.11, a price-to-earnings-growth ratio of 3.51 and a beta of 1.20. The company’s 50-day moving average is $91.61 and its 200-day moving average is $118.08. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.89 and a quick ratio of 0.89. JPMorgan Chase & Co. has a 1 year low of $76.91 and a 1 year high of $141.10.
JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.70 by ($1.92). The company had revenue of $28.25 billion for the quarter, compared to the consensus estimate of $29.45 billion. JPMorgan Chase & Co. had a return on equity of 12.52% and a net margin of 21.61%. JPMorgan Chase & Co.’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same period last year, the company earned $2.65 EPS. On average, analysts anticipate that JPMorgan Chase & Co. will post 5.13 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Monday, July 6th will be given a $0.90 dividend. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $3.60 annualized dividend and a yield of 4.02%. JPMorgan Chase & Co.’s payout ratio is 34.35%.
JPMorgan Chase & Co. Profile
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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