Gradient Investments LLC Raises Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Gradient Investments LLC increased its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 44.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 179,461 shares of the financial services provider’s stock after purchasing an additional 55,443 shares during the quarter. JPMorgan Chase & Co. makes up 0.8% of Gradient Investments LLC’s holdings, making the stock its 24th largest position. Gradient Investments LLC’s holdings in JPMorgan Chase & Co. were worth $16,880,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of the stock. Lion Street Advisors LLC bought a new stake in shares of JPMorgan Chase & Co. in the 1st quarter valued at about $37,000. NWK Group Inc. bought a new stake in shares of JPMorgan Chase & Co. in the 4th quarter valued at about $39,000. Horan Securities Inc. bought a new stake in shares of JPMorgan Chase & Co. in the 1st quarter valued at about $45,000. Sailer Financial LLC bought a new stake in shares of JPMorgan Chase & Co. in the 4th quarter valued at about $50,000. Finally, Efficient Wealth Management LLC bought a new stake in shares of JPMorgan Chase & Co. in the 1st quarter valued at about $51,000. 71.57% of the stock is currently owned by institutional investors.

In related news, insider Ashley Bacon sold 13,027 shares of the business’s stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $91.12, for a total value of $1,187,020.24. Following the completion of the sale, the insider now owns 137,243 shares of the company’s stock, valued at approximately $12,505,582.16. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Stephen B. Burke purchased 75,000 shares of the business’s stock in a transaction that occurred on Thursday, April 16th. The stock was bought at an average cost of $87.99 per share, with a total value of $6,599,250.00. Following the acquisition, the director now owns 150,043 shares in the company, valued at approximately $13,202,283.57. The disclosure for this purchase can be found here. 0.78% of the stock is currently owned by insiders.

JPM has been the topic of a number of recent analyst reports. Citigroup lowered their price target on shares of JPMorgan Chase & Co. from $125.00 to $115.00 and set a “neutral” rating on the stock in a report on Friday, March 27th. Wolfe Research upgraded shares of JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $113.00 target price for the company in a research note on Thursday. Credit Suisse Group set a $122.00 target price on shares of JPMorgan Chase & Co. and gave the stock a “buy” rating in a research note on Monday, May 18th. Keefe, Bruyette & Woods upgraded shares of JPMorgan Chase & Co. from a “market perform” rating to an “outperform” rating in a research note on Wednesday, April 1st. Finally, Morgan Stanley lifted their target price on shares of JPMorgan Chase & Co. from $101.00 to $106.00 and gave the stock an “overweight” rating in a research note on Thursday, June 25th. Ten equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $111.99.

Shares of NYSE:JPM traded up $3.46 during trading on Friday, hitting $94.74. 1,040,317 shares of the stock traded hands, compared to its average volume of 22,377,682. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.29. The company has a market cap of $284.29 billion, a price-to-earnings ratio of 10.31, a P/E/G ratio of 3.62 and a beta of 1.19. The company has a fifty day moving average price of $97.78 and a two-hundred day moving average price of $109.93. JPMorgan Chase & Co. has a 52-week low of $76.91 and a 52-week high of $141.10.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Tuesday, April 14th. The financial services provider reported $0.78 earnings per share for the quarter, missing the consensus estimate of $2.70 by ($1.92). The firm had revenue of $28.25 billion for the quarter, compared to analysts’ expectations of $29.45 billion. JPMorgan Chase & Co. had a net margin of 21.61% and a return on equity of 12.52%. JPMorgan Chase & Co.’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same period last year, the firm earned $2.65 earnings per share. On average, equities research analysts predict that JPMorgan Chase & Co. will post 5.16 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 6th will be issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 3.80%. The ex-dividend date of this dividend is Thursday, July 2nd. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 34.35%.

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 and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit card, payment processing, auto loan, and leasing services.

Further Reading: What is an investor looking for in an SEC filing?

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).

Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

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.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit