New Millennium Group LLC Boosts Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

New Millennium Group LLC increased its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 2,453.9% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 9,092 shares of the financial services provider’s stock after acquiring an additional 8,736 shares during the period. JPMorgan Chase & Co. makes up about 1.4% of New Millennium Group LLC’s holdings, making the stock its 23rd largest holding. New Millennium Group LLC’s holdings in JPMorgan Chase & Co. were worth $1,547,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. State Street Corp grew its position in JPMorgan Chase & Co. by 1.9% in the second quarter. State Street Corp now owns 126,243,947 shares of the financial services provider’s stock worth $18,360,920,000 after acquiring an additional 2,384,901 shares during the period. Moneta Group Investment Advisors LLC boosted its position in shares of JPMorgan Chase & Co. by 105,652.2% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 98,000,567 shares of the financial services provider’s stock worth $13,141,876,000 after buying an additional 97,907,897 shares during the period. Morgan Stanley boosted its position in shares of JPMorgan Chase & Co. by 0.3% during the third quarter. Morgan Stanley now owns 62,941,343 shares of the financial services provider’s stock worth $9,127,754,000 after buying an additional 201,441 shares during the period. FMR LLC boosted its position in shares of JPMorgan Chase & Co. by 1.2% during the third quarter. FMR LLC now owns 49,417,639 shares of the financial services provider’s stock worth $7,166,546,000 after buying an additional 606,382 shares during the period. Finally, Wellington Management Group LLP boosted its position in shares of JPMorgan Chase & Co. by 12.2% during the third quarter. Wellington Management Group LLP now owns 42,421,711 shares of the financial services provider’s stock worth $6,151,997,000 after buying an additional 4,603,090 shares during the period. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Lori A. Beer sold 3,920 shares of the firm’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $195.36, for a total transaction of $765,811.20. Following the transaction, the insider now owns 64,783 shares of the company’s stock, valued at $12,656,006.88. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, insider Lori A. Beer sold 3,920 shares of the firm’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $195.36, for a total transaction of $765,811.20. Following the transaction, the insider now owns 64,783 shares of the company’s stock, valued at $12,656,006.88. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, General Counsel Stacey Friedman sold 6,030 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $182.73, for a total value of $1,101,861.90. Following the transaction, the general counsel now directly owns 59,456 shares in the company, valued at approximately $10,864,394.88. The disclosure for this sale can be found here. Insiders have sold a total of 849,303 shares of company stock valued at $155,107,447 over the last quarter. 0.79% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on JPM shares. The Goldman Sachs Group restated a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Thursday, February 1st. Bank of America increased their price objective on JPMorgan Chase & Co. from $177.00 to $188.00 and gave the company a “buy” rating in a research note on Thursday, January 4th. Deutsche Bank Aktiengesellschaft upgraded JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and increased their price objective for the company from $140.00 to $190.00 in a research note on Tuesday, January 9th. Wells Fargo & Company increased their price objective on JPMorgan Chase & Co. from $200.00 to $220.00 and gave the company an “overweight” rating in a research note on Wednesday, March 20th. Finally, Morgan Stanley increased their price objective on JPMorgan Chase & Co. from $191.00 to $221.00 and gave the company an “overweight” rating in a research note on Tuesday, January 30th. Eight investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $181.63.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock opened at $199.52 on Thursday. The stock’s 50-day moving average is $181.58 and its two-hundred day moving average is $163.37. The firm has a market cap of $574.69 billion, a price-to-earnings ratio of 12.30, a PEG ratio of 2.46 and a beta of 1.14. JPMorgan Chase & Co. has a 1 year low of $126.22 and a 1 year high of $200.48. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.91 and a current ratio of 0.91.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Friday, January 12th. The financial services provider reported $3.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.73 by ($0.69). The firm had revenue of $38.57 billion for the quarter, compared to analysts’ expectations of $39.73 billion. JPMorgan Chase & Co. had a return on equity of 17.80% and a net margin of 20.70%. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period in the previous year, the business posted $3.57 EPS. Analysts predict that JPMorgan Chase & Co. will post 15.84 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, April 5th will be issued a dividend of $1.15 per share. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.31%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.05. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 28.36%.

JPMorgan Chase & Co. 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; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.