Park Avenue Securities LLC Acquires 6,501 Shares of JPMorgan Chase & Co. (JPM)

Park Avenue Securities LLC boosted its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 67.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 16,209 shares of the financial services provider’s stock after acquiring an additional 6,501 shares during the quarter. JPMorgan Chase & Co. accounts for approximately 0.5% of Park Avenue Securities LLC’s investment portfolio, making the stock its 14th biggest holding. Park Avenue Securities LLC’s holdings in JPMorgan Chase & Co. were worth $1,570,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. lifted its position in JPMorgan Chase & Co. by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 249,887,622 shares of the financial services provider’s stock valued at $22,839,729,000 after acquiring an additional 3,717,683 shares in the last quarter. Northern Trust Corp lifted its position in JPMorgan Chase & Co. by 1.8% in the 2nd quarter. Northern Trust Corp now owns 48,965,734 shares of the financial services provider’s stock valued at $4,475,468,000 after acquiring an additional 847,463 shares in the last quarter. Capital Research Global Investors lifted its position in JPMorgan Chase & Co. by 2.5% in the 2nd quarter. Capital Research Global Investors now owns 31,714,763 shares of the financial services provider’s stock valued at $2,898,729,000 after acquiring an additional 765,082 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in JPMorgan Chase & Co. by 0.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 28,683,523 shares of the financial services provider’s stock valued at $2,621,677,000 after acquiring an additional 176,306 shares in the last quarter. Finally, Legal & General Group Plc lifted its position in JPMorgan Chase & Co. by 2.1% in the 2nd quarter. Legal & General Group Plc now owns 17,769,351 shares of the financial services provider’s stock valued at $1,624,143,000 after acquiring an additional 369,878 shares in the last quarter. 73.66% of the stock is currently owned by institutional investors and hedge funds.

In other news, insider Ashley Bacon sold 16,434 shares of the firm’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $112.22, for a total transaction of $1,844,223.48. Following the completion of the sale, the insider now owns 98,811 shares in the company, valued at approximately $11,088,570.42. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director James S. Crown purchased 7,280 shares of the firm’s stock in a transaction dated Thursday, January 18th. The shares were bought at an average price of $113.37 per share, with a total value of $825,333.60. Following the purchase, the director now owns 305,875 shares in the company, valued at $34,677,048.75. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 152,047 shares of company stock valued at $17,098,115. 0.88% of the stock is currently owned by company insiders.

Several research firms have commented on JPM. Wells Fargo & Co lifted their target price on shares of JPMorgan Chase & Co. from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Friday, October 27th. Royal Bank of Canada reissued a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Friday, December 8th. Barclays lifted their target price on shares of JPMorgan Chase & Co. from $105.00 to $132.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 2nd. Societe Generale cut shares of JPMorgan Chase & Co. from a “buy” rating to a “hold” rating in a research report on Tuesday, January 9th. Finally, Zacks Investment Research raised shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and set a $126.00 target price on the stock in a research report on Thursday, January 18th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and sixteen have issued a buy rating to the company. JPMorgan Chase & Co. presently has an average rating of “Hold” and an average price target of $108.71.

Shares of JPMorgan Chase & Co. (NYSE:JPM) opened at $112.43 on Wednesday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.03 and a current ratio of 1.01. JPMorgan Chase & Co. has a one year low of $81.64 and a one year high of $117.35. The stock has a market cap of $390,100.00, a P/E ratio of 17.62, a PEG ratio of 1.86 and a beta of 1.22.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Friday, January 12th. The financial services provider reported $1.76 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.69 by $0.07. JPMorgan Chase & Co. had a net margin of 21.46% and a return on equity of 11.63%. The company had revenue of $24.15 billion during the quarter, compared to analyst estimates of $24.87 billion. During the same quarter last year, the business posted $1.71 EPS. JPMorgan Chase & Co.’s quarterly revenue was up 3.3% compared to the same quarter last year. research analysts expect that JPMorgan Chase & Co. will post 8.85 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 31st. Stockholders of record on Friday, January 5th were paid a dividend of $0.56 per share. The ex-dividend date was Thursday, January 4th. This represents a $2.24 annualized dividend and a dividend yield of 1.99%. JPMorgan Chase & Co.’s payout ratio is currently 35.11%.

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About JPMorgan Chase & Co.

JPMorgan Chase & Co is a financial holding company. The Company is engaged in investment banking, financial services. It operates in four segments, as well as a Corporate segment. Its segments are Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking and Asset Management. The Consumer & Community Banking segment offers services to consumers and businesses through bank branches, automatic teller machines (ATMs), online, mobile and telephone banking.

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

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