Bay Harbor Wealth Management LLC boosted its position in JPMorgan Chase & Co. (NYSE:JPM) by 81.4% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,255 shares of the financial services provider’s stock after buying 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 Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Your Advocates Ltd. LLP lifted its stake in shares of JPMorgan Chase & Co. by 250.0% in the 2nd quarter. Your Advocates Ltd. LLP now owns 175 shares of the financial services provider’s stock worth $67,000 after acquiring an additional 125 shares during the period. NuWave Investment Management LLC purchased a new position in JPMorgan Chase & Co. during the second quarter worth about $30,000. Provident Wealth Management LLC acquired a new stake in JPMorgan Chase & Co. in the third quarter valued at about $34,000. FAI Wealth Management boosted its holdings in JPMorgan Chase & Co. by 317.0% in the 2nd quarter. FAI Wealth Management now owns 417 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 317 shares in the last quarter. Finally, JJJ Advisors Inc. increased its position in JPMorgan Chase & Co. by 90.9% during the 2nd quarter. JJJ Advisors Inc. now owns 716 shares of the financial services provider’s stock worth $67,000 after purchasing an additional 341 shares during the period. 69.35% of the stock is currently owned by institutional investors.
A number of research firms recently weighed in on JPM. Atlantic Securities upgraded JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating and set a $120.00 price target on the stock in a research note on Wednesday, July 22nd. DA Davidson upgraded shares of JPMorgan Chase & Co. from a “neutral” rating to a “buy” rating and increased their price target for the company from $102.00 to $117.00 in a report on Thursday, July 9th. Royal Bank of Canada reissued a “buy” rating and set a $110.00 price objective on shares of JPMorgan Chase & Co. in a report on Wednesday, October 14th. Independent Research raised shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and increased their target price for the company from $100.00 to $110.00 in a report on Tuesday, September 29th. Finally, Credit Suisse Group reissued a “buy” rating and set a $126.00 price target (up previously from $122.00) on shares of JPMorgan Chase & Co. in a research note on Wednesday, October 14th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seventeen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $111.59.
In other news, insider Nicole Giles sold 2,281 shares of the company’s stock in a transaction on Monday, October 26th. The stock was sold at an average price of $100.98, for a total transaction of $230,335.38. Also, CFO Jennifer Piepszak sold 3,297 shares of the stock in a transaction on Monday, October 26th. The stock was sold at an average price of $101.11, for a total value of $333,359.67. 0.78% of the stock is currently owned by company insiders.
Shares of JPMorgan Chase & Co. stock opened at $98.04 on Friday. JPMorgan Chase & Co. has a fifty-two week low of $76.91 and a fifty-two week high of $141.10. The business’s fifty day moving average is $99.04 and its two-hundred day moving average is $97.45. 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 firm has a market cap of $298.79 billion, a PE ratio of 12.82, a P/E/G ratio of 2.68 and a beta of 1.15.
JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Monday, October 19th. The financial services provider reported $2.92 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.23 by $0.69. JPMorgan Chase & Co. had a return on equity of 10.85% and a net margin of 19.16%. The firm had revenue of $29.90 billion during the quarter, compared to analyst estimates of $28.20 billion. During the same period in the prior year, the firm posted $2.68 earnings per share. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. Equities research analysts anticipate that JPMorgan Chase & Co. will post 7.45 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Saturday, October 31st. Stockholders of record on Tuesday, October 6th will be issued a dividend of $0.90 per share. The ex-dividend date of this dividend is Monday, October 5th. This represents a $3.60 annualized dividend and a dividend yield of 3.67%. JPMorgan Chase & Co.’s payout ratio is currently 34.35%.
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.
Featured Story: What causes a yield curve to invert?
Want to see what other hedge funds are holding JPM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for JPMorgan Chase & Co. (NYSE:JPM).
Receive News & Ratings for JPMorgan Chase & Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for JPMorgan Chase & Co. and related companies with MarketBeat.com's FREE daily email newsletter.