Eqis Capital Management Inc. cut its stake in JPMorgan Chase (NYSE:JPM) by 3.4% during the fourth quarter, Holdings Channel reports. The fund owned 21,126 shares of the financial services provider’s stock after selling 747 shares during the quarter. Eqis Capital Management Inc.’s holdings in JPMorgan Chase were worth $2,259,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of JPM. Vanguard Group Inc. increased its position in JPMorgan Chase by 1.5% during the second quarter. Vanguard Group Inc. now owns 249,887,622 shares of the financial services provider’s stock worth $22,839,729,000 after buying an additional 3,717,683 shares during the last quarter. Northern Trust Corp boosted its holdings in JPMorgan Chase by 1.8% during the second 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 during the period. Capital Research Global Investors boosted its holdings in JPMorgan Chase by 2.5% during the second 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 during the period. Dimensional Fund Advisors LP boosted its holdings in JPMorgan Chase by 0.6% during the second 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 during the period. Finally, Legal & General Group Plc boosted its holdings in JPMorgan Chase by 1.8% during the third quarter. Legal & General Group Plc now owns 18,083,319 shares of the financial services provider’s stock valued at $1,727,118,000 after acquiring an additional 313,968 shares during the period. 74.50% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have issued reports on JPM. HSBC began coverage on shares of JPMorgan Chase in a report on Wednesday. They set a “hold” rating and a $111.00 price target for the company. Vining Sparks restated a “buy” rating and set a $130.00 price target on shares of JPMorgan Chase in a report on Friday, April 6th. Vetr cut shares of JPMorgan Chase from a “strong-buy” rating to a “buy” rating and set a $123.29 price target for the company. in a report on Thursday, April 5th. ValuEngine cut shares of JPMorgan Chase from a “buy” rating to a “hold” rating in a report on Monday, April 2nd. Finally, Edward Jones upgraded shares of JPMorgan Chase from a “hold” rating to a “buy” rating in a report on Thursday, March 22nd. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and fifteen have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $112.51.
JPMorgan Chase (NYSE:JPM) last announced its quarterly earnings results on Friday, April 13th. The financial services provider reported $2.37 EPS for the quarter, topping analysts’ consensus estimates of $2.28 by $0.09. The firm had revenue of $27.90 billion during the quarter, compared to analysts’ expectations of $27.73 billion. JPMorgan Chase had a net margin of 21.46% and a return on equity of 11.63%. The company’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.65 earnings per share. sell-side analysts anticipate that JPMorgan Chase will post 8.89 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 30th. Shareholders of record on Friday, April 6th will be paid a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date is Thursday, April 5th. JPMorgan Chase’s dividend payout ratio is 32.61%.
In other news, insider Peter Scher sold 26,532 shares of the firm’s stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $113.42, for a total transaction of $3,009,259.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ashley Bacon sold 16,434 shares of the firm’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $112.22, for a total transaction of $1,844,223.48. Following the sale, the insider now directly owns 98,811 shares of the company’s stock, valued at approximately $11,088,570.42. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 152,047 shares of company stock valued at $17,098,115. Corporate insiders own 0.88% of the company’s stock.
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About JPMorgan Chase
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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