Johnson Financial Group LLC lifted its stake in JPMorgan Chase & Co. (NYSE:JPM) by 9.6% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 9,893 shares of the financial services provider’s stock after purchasing an additional 866 shares during the quarter. JPMorgan Chase & Co. comprises 0.8% of Johnson Financial Group LLC’s portfolio, making the stock its 11th biggest holding. Johnson Financial Group LLC’s holdings in JPMorgan Chase & Co. were worth $944,000 as of its most recent filing with the SEC.
Other institutional investors also recently made changes to their positions in the company. Private Vista LLC bought a new stake in shares of JPMorgan Chase & Co. during the 2nd quarter worth approximately $102,000. Kohmann Bosshard Financial Services LLC bought a new stake in shares of JPMorgan Chase & Co. during the 3rd quarter worth approximately $102,000. Welch Investments LLC bought a new stake in shares of JPMorgan Chase & Co. during the 3rd quarter worth approximately $103,000. Legacy Advisors LLC bought a new stake in shares of JPMorgan Chase & Co. during the 3rd quarter worth approximately $106,000. Finally, Atlantic Trust LLC bought a new stake in shares of JPMorgan Chase & Co. during the 2nd quarter worth approximately $136,000. Hedge funds and other institutional investors own 73.66% of the company’s stock.
In other news, General Counsel Stacey Friedman sold 17,729 shares of JPMorgan Chase & Co. stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $112.33, for a total value of $1,991,498.57. Following the transaction, the general counsel now directly owns 21,260 shares in the company, valued at approximately $2,388,135.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ashley Bacon sold 16,434 shares of JPMorgan Chase & Co. stock in a transaction on 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 transaction, the insider now owns 98,811 shares in the company, valued at $11,088,570.42. The disclosure for this sale can be found here. Insiders sold a total of 152,047 shares of company stock worth $17,098,115 over the last quarter. Company insiders own 0.88% of the company’s stock.
JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Friday, January 12th. The financial services provider reported $1.76 earnings per share (EPS) for the quarter, beating the Zacks’ 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 business had revenue of $24.15 billion for the quarter, compared to the consensus estimate of $24.87 billion. During the same period last year, the business posted $1.71 EPS. The business’s revenue was up 3.3% compared to the same quarter last year. sell-side analysts anticipate that JPMorgan Chase & Co. will post 8.85 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, January 31st. Stockholders of record on Friday, January 5th were issued a $0.56 dividend. The ex-dividend date of this dividend was Thursday, January 4th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 1.95%. JPMorgan Chase & Co.’s dividend payout ratio is presently 35.11%.
A number of equities research analysts recently issued reports on JPM shares. Argus raised their price target on JPMorgan Chase & Co. from $109.00 to $125.00 and gave the stock a “buy” rating in a research note on Friday, January 12th. Nomura set a $115.00 price target on JPMorgan Chase & Co. and gave the stock a “neutral” rating in a research note on Friday, January 12th. Credit Suisse Group reissued an “outperform” rating and set a $125.00 price target (up from $120.00) on shares of JPMorgan Chase & Co. in a research note on Tuesday, January 16th. Barclays lifted their target price on JPMorgan Chase & Co. from $105.00 to $132.00 and gave the company an “overweight” rating in a research report on Tuesday, January 2nd. Finally, Wells Fargo & Co set a $120.00 target price on JPMorgan Chase & Co. and gave the company a “buy” rating in a research report on Wednesday, December 20th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and sixteen have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $108.71.
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JPMorgan Chase & Co. Company Profile
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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