Bay Harbor Wealth Management LLC Grows Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Bay Harbor Wealth Management LLC boosted its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 81.4% during the 3rd quarter, HoldingsChannel reports. The firm owned 1,255 shares of the financial services provider’s stock after purchasing an additional 563 shares during the period. Bay Harbor Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $121,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. IBM Retirement Fund increased its holdings in shares of JPMorgan Chase & Co. by 36.7% in the third quarter. IBM Retirement Fund now owns 103,214 shares of the financial services provider’s stock valued at $9,936,000 after purchasing an additional 27,691 shares during the period. Hoey Investments Inc. grew its position in JPMorgan Chase & Co. by 187.7% in the 2nd quarter. Hoey Investments Inc. now owns 49,684 shares of the financial services provider’s stock valued at $4,673,000 after buying an additional 32,417 shares during the last quarter. Occidental Asset Management LLC increased its stake in JPMorgan Chase & Co. by 6.7% in the 2nd quarter. Occidental Asset Management LLC now owns 8,857 shares of the financial services provider’s stock valued at $833,000 after buying an additional 554 shares during the period. GFG Capital LLC purchased a new position in JPMorgan Chase & Co. during the 2nd quarter worth $947,000. Finally, WealthTrust Axiom LLC lifted its stake in shares of JPMorgan Chase & Co. by 7.0% in the 2nd quarter. WealthTrust Axiom LLC now owns 7,703 shares of the financial services provider’s stock worth $724,000 after acquiring an additional 501 shares during the period. Institutional investors own 69.35% of the company’s stock.

Shares of NYSE:JPM opened at $98.04 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.16. The company has a market capitalization of $298.79 billion, a P/E ratio of 12.82, a P/E/G ratio of 2.68 and a beta of 1.15. JPMorgan Chase & Co. has a 52-week low of $76.91 and a 52-week high of $141.10. The stock’s fifty day simple moving average is $99.04 and its 200-day simple moving average is $97.45.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Monday, October 19th. The financial services provider reported $2.92 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.23 by $0.69. JPMorgan Chase & Co. had a net margin of 19.16% and a return on equity of 10.85%. The company had revenue of $29.90 billion for the quarter, compared to analyst estimates of $28.20 billion. During the same period in the prior year, the firm earned $2.68 EPS. The firm’s quarterly revenue was up 4.0% on a year-over-year basis. On average, sell-side analysts anticipate that JPMorgan Chase & Co. will post 7.45 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, October 31st. Investors of record on Tuesday, October 6th will be paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 3.67%. The ex-dividend date is Monday, October 5th. JPMorgan Chase & Co.’s payout ratio is 34.35%.

In other news, CFO Jennifer Piepszak sold 3,297 shares of the firm’s stock in a transaction on Monday, October 26th. The stock was sold at an average price of $101.11, for a total transaction of $333,359.67. Also, insider Nicole Giles sold 2,281 shares of JPMorgan Chase & Co. stock in a transaction on Monday, October 26th. The shares were sold at an average price of $100.98, for a total value of $230,335.38. 0.78% of the stock is currently owned by company insiders.

Several research firms recently issued reports on JPM. Royal Bank of Canada reissued a “buy” rating and set a $110.00 price target on shares of JPMorgan Chase & Co. in a report on Wednesday, October 14th. Morgan Stanley reissued a “buy” rating and set a $106.00 target price on shares of JPMorgan Chase & Co. in a research note on Monday, July 27th. Deutsche Bank Aktiengesellschaft upgraded JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and lifted their price target for the company from $105.00 to $115.00 in a research note on Thursday, September 3rd. Seaport Global Securities assumed coverage on JPMorgan Chase & Co. in a report on Wednesday, July 8th. They set a “buy” rating and a $119.00 price objective on the stock. Finally, DA Davidson raised JPMorgan Chase & Co. from a “neutral” rating to a “buy” rating and raised their target price for the company from $102.00 to $117.00 in a report on Thursday, July 9th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seventeen have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $111.59.

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 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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Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

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