Russell Investments Group Ltd. boosted its position in JPMorgan Chase & Co. (NYSE:JPM) by 1.1% in the third quarter, Holdings Channel reports. The institutional investor owned 6,369,239 shares of the financial services provider’s stock after purchasing an additional 71,450 shares during the period. JPMorgan Chase & Co. makes up approximately 1.0% of Russell Investments Group Ltd.’s holdings, making the stock its 6th largest holding. Russell Investments Group Ltd.’s holdings in JPMorgan Chase & Co. were worth $608,266,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in JPM. Kohmann Bosshard Financial Services LLC purchased a new position in shares of JPMorgan Chase & Co. in the third quarter valued at $102,000. Legacy Advisors LLC purchased a new position in shares of JPMorgan Chase & Co. in the third quarter valued at $106,000. Atlantic Trust LLC purchased a new position in shares of JPMorgan Chase & Co. in the second quarter valued at $136,000. Lipe & Dalton purchased a new position in shares of JPMorgan Chase & Co. in the third quarter valued at $143,000. Finally, Capital Advisors Ltd. LLC grew its position in shares of JPMorgan Chase & Co. by 53.0% in the second quarter. Capital Advisors Ltd. LLC now owns 1,935 shares of the financial services provider’s stock valued at $177,000 after purchasing an additional 670 shares in the last quarter. 73.85% of the stock is owned by institutional investors and hedge funds.
In other news, CEO Mary E. Erdoes sold 65,101 shares of the business’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $112.25, for a total value of $7,307,587.25. Following the completion of the sale, the chief executive officer now owns 479,882 shares of the company’s stock, valued at approximately $53,866,754.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Ashley Bacon sold 16,434 shares of the business’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $112.22, for a total value of $1,844,223.48. Following the completion of 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 ninety 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.
JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Friday, January 12th. The financial services provider reported $1.76 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.69 by $0.07. JPMorgan Chase & Co. had a return on equity of 11.63% and a net margin of 21.46%. The firm had revenue of $24.15 billion during the quarter, compared to analyst estimates of $24.87 billion. During the same quarter in the previous year, the company posted $1.71 earnings per share. The company’s revenue was up 3.3% compared to the same quarter last year. sell-side analysts forecast that JPMorgan Chase & Co. will post 8.85 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, January 31st. Shareholders of record on Friday, January 5th were paid a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend was Thursday, January 4th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 35.56%.
JPM has been the subject of several recent research reports. Credit Suisse Group reiterated a “buy” rating and issued a $110.00 price target (up from $103.00) on shares of JPMorgan Chase & Co. in a research report on Monday, October 9th. They noted that the move was a valuation call. Keefe, Bruyette & Woods reiterated a “hold” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, October 11th. Oppenheimer reiterated a “hold” rating on shares of JPMorgan Chase & Co. in a research report on Thursday, October 12th. Jefferies Group set a $111.00 price target on JPMorgan Chase & Co. and gave the company a “buy” rating in a research report on Friday, October 13th. Finally, BMO Capital Markets lifted their price target on JPMorgan Chase & Co. from $86.00 to $91.00 and gave the company a “market perform” rating in a research report on Friday, October 13th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and sixteen have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $106.90.
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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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