Thomaspartners Inc. trimmed its stake in JPMorgan Chase & Co. (NYSE:JPM) by 0.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,687,594 shares of the financial services provider’s stock after selling 1,713 shares during the quarter. JPMorgan Chase & Co. accounts for 2.2% of Thomaspartners Inc.’s portfolio, making the stock its 16th largest position. Thomaspartners Inc. owned about 0.08% of JPMorgan Chase & Co. worth $295,555,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Keeler Thomas Management LLC purchased a new stake in shares of JPMorgan Chase & Co. in the fourth quarter worth approximately $112,000. Cerebellum GP LLC purchased a new stake in shares of JPMorgan Chase & Co. in the fourth quarter worth approximately $119,000. Price Wealth Management Inc. purchased a new stake in shares of JPMorgan Chase & Co. in the fourth quarter worth approximately $124,000. Americafirst Capital Management LLC purchased a new stake in shares of JPMorgan Chase & Co. in the third quarter worth approximately $143,000. Finally, FSI Group LLC purchased a new stake in shares of JPMorgan Chase & Co. in the fourth quarter worth approximately $159,000. 71.98% of the stock is owned by institutional investors and hedge funds.
Several brokerages recently weighed in on JPM. Edward Jones raised shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating in a research report on Thursday, March 22nd. Zacks Investment Research raised shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and set a $129.00 price objective on the stock in a research report on Monday, March 19th. Vining Sparks reaffirmed a “buy” rating and set a $130.00 price objective on shares of JPMorgan Chase & Co. in a research report on Friday, April 6th. Vetr lowered shares of JPMorgan Chase & Co. from a “strong-buy” rating to a “buy” rating and set a $123.29 price objective on the stock. in a research report on Thursday, April 5th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $122.00 price objective on shares of JPMorgan Chase & Co. in a research report on Monday, April 16th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $114.06.
JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Friday, April 13th. The financial services provider reported $2.37 EPS for the quarter, beating the Zacks’ consensus estimate of $2.28 by $0.09. JPMorgan Chase & Co. had a net margin of 22.53% and a return on equity of 12.60%. The company had revenue of $27.90 billion for the quarter, compared to analyst estimates of $27.73 billion. During the same quarter last year, the firm posted $1.65 earnings per share. The company’s quarterly revenue was up 12.0% compared to the same quarter last year. analysts predict that JPMorgan Chase & Co. will post 9.03 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 31st. Stockholders of record on Friday, July 6th will be given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date of this dividend is Thursday, July 5th. JPMorgan Chase & Co.’s dividend payout ratio is 32.61%.
In related news, Director Chase & Co Jpmorgan acquired 22,000 shares of the stock in a transaction dated Thursday, May 31st. The shares were acquired at an average price of $1,000.00 per share, for a total transaction of $22,000,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Todd A. Combs acquired 13,000 shares of the stock in a transaction dated Monday, May 14th. The stock was bought at an average price of $114.61 per share, for a total transaction of $1,489,930.00. Following the purchase, the director now owns 18,277 shares of the company’s stock, valued at approximately $2,094,726.97. The disclosure for this purchase can be found here. In the last three months, insiders bought 53,000 shares of company stock worth $25,488,830. Insiders own 0.73% of the company’s stock.
JPMorgan Chase & Co. Profile
JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking, and Asset & Wealth Management. The Consumer & Community Banking segment offers deposit and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; residential mortgages and home equity loans; and credit cards, payment processing services, auto loans and leases.
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