Grandview Asset Management LLC strengthened its position in JPMorgan Chase & Co. (NYSE:JPM) by 21.5% in the 1st quarter, Holdings Channel.com reports. The company held 16,440 shares of the financial services provider after purchasing an additional 2,911 shares during the period. JPMorgan Chase & Co. accounts for about 0.9% of Grandview Asset Management LLC’s investment portfolio, making the stock its 28th-highest position. Grandview Asset Management LLC’s holdings in JPMorgan Chase & Co. were worth $2,241,000 when it last filed with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also been buying and selling shares of the company recently. Carolina Wealth Advisors LLC increased its holdings of JPMorgan Chase & Co. shares by 176.5% in the fourth quarter. Carolina Wealth Advisors LLC now owns 235 shares of the financial services provider valued at $37,000 after acquiring an additional 150 shares in the last quarter. Landmark Wealth Management LLC bought a new stock position in JPMorgan Chase & Co. in the first quarter, valued at around $46,000. Evolution Advisers Inc. bought a new position in JPMorgan Chase & Co. stock in the fourth quarter valued at around $52,000. Leverty Financial Group LLC bought a new stock position in JPMorgan Chase & Co. in the fourth quarter, valued at around $54,000. Finally, Delos Wealth Advisors LLC increased its holdings of JPMorgan Chase & Co. shares by 13,433.3% in the fourth quarter. Delos Wealth Advisors LLC now owns 406 shares of the financial services provider valued at $64,000 after acquiring 403 additional shares in the last quarter. Institutional investors hold 70.35% of the company’s shares.
Analysts set new price targets
Several analysts have recently commented on the stock. StockNews.com purported coverage of JPMorgan Chase & Co. shares in a Thursday, March 31, research note. They set a “holding” rating for the company. Citigroup upgraded shares of JPMorgan Chase & Co. from a “neutral” rating to a “buy” rating and cut its price target for the company from $145.00 to $135.00 in a report of research on Tuesday. Argus lowered its price target on JPMorgan Chase & Co. shares from $177.00 to $155.00 in a Thursday, April 14 research note. Morgan Stanley lowered its price target on JPMorgan Chase & Co. shares from $149.00 to $127.00 and set an “underweight” rating for the company in a research note on Tuesday. Finally, Societe Generale upgraded the shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and raised its price target for the stock from $145.00 to $150.00 in a research note from Tuesday, May 24. One analyst rated the stock with a sell rating, seven assigned a hold rating and nine assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $143.95.
In other news, Insider Ashley Bacon sold 21,012 shares of the company in a trade on Tuesday, April 19. The shares were sold at an average price of $130.04, for a total transaction of $2,732,400.48. Following the transaction, the insider now owns 178,588 shares of the company, valued at approximately $23,223,583.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, accessible via the SEC website. 0.79% of the shares are held by insiders.
JPMorgan Chase & Co. Stock up 4.6%
JPMorgan Chase & Co stock. opened at $112.95 on Friday. The company has a market capitalization of $331.74 billion, a P/E ratio of 8.38, a P/E/G ratio of 1.99 and a beta of 1.15. The company’s fifty-day simple moving average is $119.34 and its 200-day simple moving average is $134.51. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt ratio of 1.16. JPMorgan Chase & Co. has a 1-year low of $106.06 and a 1-year high of $172.96.
JPMorgan Chase & Co. (NYSE:JPM – Get a rating) last released its quarterly results on Thursday, July 14. The financial services provider reported earnings per share of $2.76 for the quarter, matching analyst consensus estimates of $2.76. The company posted revenue of $30.72 billion for the quarter, versus a consensus estimate of $31.82 billion. JPMorgan Chase & Co. posted a net margin of 33.61% and a return on equity of 16.58%. JPMorgan Chase & Co. revenue for the quarter increased 0.8% year on year. In the same quarter last year, the company achieved EPS of $3.78. Sell-side analysts expect JPMorgan Chase & Co. to post earnings per share of 11.37 for the current fiscal year.
JPMorgan Chase & Co. announces dividend
The company also recently declared a quarterly dividend, which will be paid on Sunday, July 31. Shareholders of record on Wednesday, July 6 will receive a dividend of $1.00 per share. The ex-dividend date is Tuesday, July 5. This represents a dividend of $4.00 on an annualized basis and a dividend yield of 3.54%. JPMorgan Chase & Co.’s dividend payout ratio is currently 29.67%.
About JPMorgan Chase & Co.
JPMorgan Chase & Co operates as a worldwide financial services company. 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 s deposit, investment and lending products, payments and consumer services; lending, deposit, cash management and payment solutions for small businesses; mortgage origination and management activities; residential mortgages and home equity loans; and credit card, car loan and leasing services.
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