Clarkston Capital Partners LLC acquired a new stake in JPMorgan Chase & Co. (NYSE:JPM) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 3,504 shares of the financial services provider’s stock, valued at approximately $308,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Pacific Center for Financial Services bought a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth about $106,000. Northwest Quadrant Wealth Management LLC bought a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth about $125,000. Thomas J. Herzfeld Advisors Inc. bought a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth about $125,000. Glacier Peak Capital LLC bought a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth about $129,000. Finally, Tortoise Investment Management LLC raised its stake in shares of JPMorgan Chase & Co. by 434.9% in the fourth quarter. Tortoise Investment Management LLC now owns 1,578 shares of the financial services provider’s stock worth $136,000 after buying an additional 1,283 shares in the last quarter. 74.06% of the stock is owned by institutional investors.
JPMorgan Chase & Co. (JPM) opened at 91.42 on Friday. JPMorgan Chase & Co. has a 12 month low of $65.11 and a 12 month high of $95.22. The stock’s 50 day moving average price is $91.87 and its 200-day moving average price is $88.50. The stock has a market cap of $321.66 billion, a price-to-earnings ratio of 13.49 and a beta of 1.19.
JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Friday, July 14th. The financial services provider reported $1.82 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.59 by $0.23. JPMorgan Chase & Co. had a return on equity of 11.38% and a net margin of 27.60%. The firm had revenue of $25.50 billion for the quarter, compared to the consensus estimate of $24.38 billion. During the same period in the previous year, the business earned $1.55 earnings per share. The company’s revenue for the quarter was up 4.6% compared to the same quarter last year. Equities research analysts predict that JPMorgan Chase & Co. will post $6.81 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, July 31st. Investors of record on Thursday, July 6th were paid a $0.50 dividend. The ex-dividend date was Monday, July 3rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.19%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 29.59%.
A number of brokerages have recently issued reports on JPM. UBS AG reissued a “buy” rating and set a $101.00 target price on shares of JPMorgan Chase & Co. in a research note on Monday, May 15th. Berenberg Bank set a $65.00 target price on shares of JPMorgan Chase & Co. and gave the company a “sell” rating in a research note on Thursday, August 3rd. Instinet reissued a “neutral” rating and set a $84.00 target price (down from $87.00) on shares of JPMorgan Chase & Co. in a research note on Saturday, June 3rd. Zacks Investment Research lowered shares of JPMorgan Chase & Co. from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. Finally, BidaskClub lowered shares of JPMorgan Chase & Co. from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and twenty have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $85.53.
In other JPMorgan Chase & Co. news, insider Nicole Giles sold 1,000 shares of the business’s stock in a transaction on Tuesday, July 18th. The stock was sold at an average price of $91.29, for a total transaction of $91,290.00. Following the sale, the insider now directly owns 3,783 shares in the company, valued at $345,350.07. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Marianne Lake sold 17,596 shares of the business’s stock in a transaction on Monday, July 17th. The stock was sold at an average price of $91.58, for a total value of $1,611,441.68. The disclosure for this sale can be found here. 0.85% of the stock is owned by insiders.
About JPMorgan Chase & Co.
JPMorgan Chase & Co is a financial holding company. The Company is engaged in investment banking, financial services. It operates in four segments, as well as a Corporate segment. Its segments are Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking and Asset Management. The Consumer & Community Banking segment offers services to consumers and businesses through bank branches, automatic teller machines (ATMs), online, mobile and telephone banking.
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