Pitcairn Co. raised its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 10.8% during the first quarter, Holdings Channel.com reports. The fund owned 45,768 shares of the financial services provider’s stock after buying an additional 4,464 shares during the period. JPMorgan Chase & Co. accounts for approximately 0.6% of Pitcairn Co.’s portfolio, making the stock its 26th largest position. Pitcairn Co.’s holdings in JPMorgan Chase & Co. were worth $9,167,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also made changes to their positions in the company. Norges Bank bought a new stake in JPMorgan Chase & Co. in the 4th quarter valued at $6,016,878,000. International Assets Investment Management LLC purchased a new stake in shares of JPMorgan Chase & Co. in the fourth quarter worth about $1,017,893,000. Capital International Investors boosted its stake in JPMorgan Chase & Co. by 5.4% during the fourth quarter. Capital International Investors now owns 41,516,695 shares of the financial services provider’s stock valued at $7,062,094,000 after buying an additional 2,128,478 shares during the last quarter. Public Employees Retirement Association of Colorado grew its holdings in JPMorgan Chase & Co. by 3,836.2% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 1,518,969 shares of the financial services provider’s stock valued at $258,377,000 after buying an additional 1,480,379 shares in the last quarter. Finally, Cerity Partners LLC increased its stake in JPMorgan Chase & Co. by 155.2% in the 4th quarter. Cerity Partners LLC now owns 2,246,582 shares of the financial services provider’s stock worth $382,144,000 after acquiring an additional 1,366,360 shares during the last quarter. 71.55% of the stock is currently owned by hedge funds and other institutional investors.
JPMorgan Chase & Co. Stock Up 0.1 %
Shares of NYSE JPM opened at $208.70 on Friday. JPMorgan Chase & Co. has a 52-week low of $135.19 and a 52-week high of $217.56. The firm has a market capitalization of $599.32 billion, a price-to-earnings ratio of 11.64, a PEG ratio of 2.45 and a beta of 1.12. The stock has a 50 day moving average price of $202.24 and a 200 day moving average price of $191.32. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.92 and a current ratio of 0.91.
JPMorgan Chase & Co. Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, July 5th will be issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 2.20%. The ex-dividend date of this dividend is Friday, July 5th. JPMorgan Chase & Co.’s payout ratio is 25.66%.
Insider Buying and Selling at JPMorgan Chase & Co.
In other news, General Counsel Stacey Friedman sold 4,415 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $200.65, for a total value of $885,869.75. Following the completion of the sale, the general counsel now owns 42,124 shares of the company’s stock, valued at approximately $8,452,180.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Lori A. Beer sold 5,298 shares of the firm’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $200.64, for a total transaction of $1,062,990.72. Following the sale, the insider now owns 46,375 shares of the company’s stock, valued at $9,304,680. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Stacey Friedman sold 4,415 shares of the business’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $200.65, for a total transaction of $885,869.75. Following the completion of the transaction, the general counsel now owns 42,124 shares of the company’s stock, valued at $8,452,180.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 72,343 shares of company stock valued at $14,137,789. Company insiders own 0.79% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research analysts recently weighed in on JPM shares. Oppenheimer raised their target price on shares of JPMorgan Chase & Co. from $215.00 to $221.00 and gave the company an “outperform” rating in a report on Monday, July 15th. StockNews.com upgraded JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research report on Saturday, July 13th. Barclays upped their price objective on JPMorgan Chase & Co. from $212.00 to $217.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. UBS Group raised their price objective on JPMorgan Chase & Co. from $219.00 to $224.00 and gave the company a “buy” rating in a research note on Tuesday, May 21st. Finally, Jefferies Financial Group boosted their target price on JPMorgan Chase & Co. from $230.00 to $239.00 and gave the company a “buy” rating in a research report on Wednesday, July 3rd. Nine equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $202.89.
Read Our Latest Analysis on JPM
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; 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.
Read More
- Five stocks we like better than JPMorgan Chase & Co.
- How to Invest in the Best Canadian StocksĀ
- Skechers Stock Shows Strength Among Consumer Discretionary Sector
- What is Put Option Volume?
- Tech Stocks Tumble, These Stocks Present Buying Opportunity
- Basic Materials Stocks Investing
- Is Now the Time to Invest? ServiceNow Stock Sent to New Highs
Want to see what other hedge funds are holding JPM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for JPMorgan Chase & Co. (NYSE:JPM – Free Report).
Receive News & Ratings for JPMorgan Chase & Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for JPMorgan Chase & Co. and related companies with MarketBeat.com's FREE daily email newsletter.