AGF Investments Inc. Raises Position in JPMorgan Chase & Co. (JPM)

AGF Investments Inc. boosted its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 6.0% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 2,168,300 shares of the financial services provider’s stock after buying an additional 122,912 shares during the quarter. JPMorgan Chase & Co. accounts for 2.3% of AGF Investments Inc.’s portfolio, making the stock its 4th biggest position. AGF Investments Inc.’s holdings in JPMorgan Chase & Co. were worth $207,094,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of JPM. Kornitzer Capital Management Inc. KS lifted its holdings in JPMorgan Chase & Co. by 1.1% in the 2nd quarter. Kornitzer Capital Management Inc. KS now owns 74,358 shares of the financial services provider’s stock worth $6,796,000 after buying an additional 840 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. lifted its holdings in JPMorgan Chase & Co. by 1.0% in the 2nd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 195,643 shares of the financial services provider’s stock worth $17,882,000 after buying an additional 1,953 shares during the period. Honkamp Krueger Financial Services Inc. lifted its holdings in JPMorgan Chase & Co. by 1.5% in the 2nd quarter. Honkamp Krueger Financial Services Inc. now owns 33,440 shares of the financial services provider’s stock worth $3,056,000 after buying an additional 489 shares during the period. Pillar Pacific Capital Management LLC lifted its holdings in JPMorgan Chase & Co. by 8.4% in the 2nd quarter. Pillar Pacific Capital Management LLC now owns 43,337 shares of the financial services provider’s stock worth $3,961,000 after buying an additional 3,350 shares during the period. Finally, Cardinal Capital Management lifted its holdings in JPMorgan Chase & Co. by 3.5% in the 2nd quarter. Cardinal Capital Management now owns 59,188 shares of the financial services provider’s stock worth $5,410,000 after buying an additional 1,976 shares during the period. Institutional investors own 73.66% of the company’s stock.

JPM has been the subject of several research analyst reports. Argus increased their price objective on JPMorgan Chase & Co. from $109.00 to $125.00 and gave the stock a “buy” rating in a report on Friday, January 12th. Nomura set a $115.00 target price on JPMorgan Chase & Co. and gave the stock a “neutral” rating in a research report on Friday, January 12th. Credit Suisse Group reissued an “outperform” rating and issued a $125.00 target price (up previously from $120.00) on shares of JPMorgan Chase & Co. in a research report on Tuesday, January 16th. Barclays increased their target price on JPMorgan Chase & Co. from $105.00 to $132.00 and gave the stock 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 stock a “buy” rating in a research report on Wednesday, December 20th. Two research 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. The company currently has a consensus rating of “Hold” and an average price target of $108.71.

In other JPMorgan Chase & Co. news, insider Peter Scher sold 26,532 shares of JPMorgan Chase & Co. stock in a transaction on Friday, January 19th. The stock was sold at an average price of $113.42, for a total value of $3,009,259.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James S. Crown bought 7,280 shares of JPMorgan Chase & Co. stock in a transaction on Thursday, January 18th. The stock was acquired at an average cost of $113.37 per share, with a total value of $825,333.60. Following the acquisition, the director now owns 305,875 shares in the company, valued at approximately $34,677,048.75. The disclosure for this purchase can be found here. In the last three months, insiders 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) opened at $114.68 on Friday. JPMorgan Chase & Co. has a 52-week low of $81.64 and a 52-week high of $117.35. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.03 and a current ratio of 1.01. The firm has a market capitalization of $397,910.00, a P/E ratio of 17.97, a P/E/G ratio of 1.97 and a beta of 1.22.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Friday, January 12th. The financial services provider reported $1.76 EPS for the quarter, topping the Zacks’ consensus estimate of $1.69 by $0.07. The business had revenue of $24.15 billion during the quarter, compared to analyst estimates of $24.87 billion. JPMorgan Chase & Co. had a return on equity of 11.63% and a net margin of 21.46%. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.71 EPS. equities analysts forecast that JPMorgan Chase & Co. will post 8.78 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 31st. Shareholders of record on Friday, January 5th were issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date was Thursday, January 4th. JPMorgan Chase & Co.’s payout ratio is 35.11%.

COPYRIGHT VIOLATION NOTICE: “AGF Investments Inc. Raises Position in JPMorgan Chase & Co. (JPM)” was reported by Week Herald and is owned by of Week Herald. If you are reading this piece on another publication, it was illegally copied and republished in violation of US & international trademark and copyright laws. The original version of this piece can be read at https://weekherald.com/2018/02/18/agf-investments-inc-raises-position-in-jpmorgan-chase-co-jpm.html.

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.

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.

Leave a Reply