Mirae Asset Global Investments Co. Ltd. increased its stake in JPMorgan Chase & Co. (NYSE:JPM) by 6.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 961,692 shares of the financial services provider’s stock after acquiring an additional 56,595 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in JPMorgan Chase & Co. were worth $138,824,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Shelton Capital Management lifted its stake in JPMorgan Chase & Co. by 42.4% in the second quarter. Shelton Capital Management now owns 114,373 shares of the financial services provider’s stock worth $16,634,000 after acquiring an additional 34,035 shares during the last quarter. Stonehage Fleming Financial Services Holdings Ltd raised its holdings in shares of JPMorgan Chase & Co. by 73.4% in the 2nd quarter. Stonehage Fleming Financial Services Holdings Ltd now owns 9,155 shares of the financial services provider’s stock valued at $1,126,000 after purchasing an additional 3,876 shares in the last quarter. Cary Street Partners Investment Advisory LLC lifted its position in shares of JPMorgan Chase & Co. by 15.4% during the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 67,591 shares of the financial services provider’s stock worth $9,830,000 after purchasing an additional 9,000 shares during the last quarter. Charter Research & Investment Group Inc. raised its stake in JPMorgan Chase & Co. by 3.5% in the second quarter. Charter Research & Investment Group Inc. now owns 2,967 shares of the financial services provider’s stock valued at $432,000 after buying an additional 100 shares in the last quarter. Finally, Corrado Advisors LLC lifted its holdings in JPMorgan Chase & Co. by 1.1% during the 2nd quarter. Corrado Advisors LLC now owns 19,487 shares of the financial services provider’s stock worth $2,834,000 after buying an additional 217 shares during the last quarter. 68.94% of the stock is currently owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other news, General Counsel Stacey Friedman sold 4,310 shares of the firm’s stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $144.86, for a total value of $624,346.60. Following the completion of the sale, the general counsel now directly owns 53,425 shares of the company’s stock, valued at approximately $7,739,145.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.79% of the stock is currently owned by insiders.
JPMorgan Chase & Co. Price Performance
JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last announced its quarterly earnings data on Friday, October 13th. The financial services provider reported $4.33 EPS for the quarter, topping analysts’ consensus estimates of $3.95 by $0.38. The company had revenue of $40.69 billion during the quarter, compared to the consensus estimate of $39.63 billion. JPMorgan Chase & Co. had a net margin of 22.79% and a return on equity of 17.97%. JPMorgan Chase & Co.’s quarterly revenue was up 24.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.12 EPS. Sell-side analysts forecast that JPMorgan Chase & Co. will post 16.67 EPS for the current year.
JPMorgan Chase & Co. Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 31st. Shareholders of record on Friday, October 6th were issued a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date was Thursday, October 5th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.00. JPMorgan Chase & Co.’s payout ratio is currently 25.07%.
Wall Street Analyst Weigh In
JPM has been the topic of a number of recent analyst reports. Evercore ISI increased their price objective on JPMorgan Chase & Co. from $158.00 to $167.00 in a report on Thursday, October 5th. Royal Bank of Canada reissued an “outperform” rating and set a $158.00 price objective on shares of JPMorgan Chase & Co. in a report on Friday, September 8th. Odeon Capital Group cut shares of JPMorgan Chase & Co. from a “buy” rating to a “hold” rating and set a $140.00 target price for the company. in a report on Thursday, November 2nd. HSBC started coverage on shares of JPMorgan Chase & Co. in a research note on Thursday, September 7th. They set a “hold” rating and a $159.00 price target on the stock. Finally, Jefferies Financial Group decreased their price objective on shares of JPMorgan Chase & Co. from $176.00 to $169.00 in a research note on Tuesday, October 10th. Nine investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, JPMorgan Chase & Co. has an average rating of “Moderate Buy” and a consensus target price of $168.80.
JPMorgan Chase & Co. Company Profile
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, investment and lending products, cash management, and payments and services to consumers and small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services.
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