Ipswich Investment Management Co. Inc. grew its stake in JPMorgan Chase & Co. (NYSE:JPM) by 69.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 47,967 shares of the financial services provider’s stock after purchasing an additional 19,736 shares during the quarter. JPMorgan Chase & Co. makes up approximately 2.3% of Ipswich Investment Management Co. Inc.’s holdings, making the stock its 10th biggest holding. Ipswich Investment Management Co. Inc.’s holdings in JPMorgan Chase & Co. were worth $4,998,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of the company. Financial Gravity Wealth Inc. bought a new stake in shares of JPMorgan Chase & Co. during the 1st quarter valued at about $150,000. Stelac Advisory Services LLC bought a new stake in shares of JPMorgan Chase & Co. during the 1st quarter valued at about $162,000. FSI Group LLC bought a new stake in shares of JPMorgan Chase & Co. during the 4th quarter valued at about $159,000. Private Ocean LLC grew its position in shares of JPMorgan Chase & Co. by 94.7% during the 1st quarter. Private Ocean LLC now owns 1,694 shares of the financial services provider’s stock valued at $186,000 after buying an additional 824 shares during the last quarter. Finally, Avenir Corp bought a new stake in shares of JPMorgan Chase & Co. during the 1st quarter valued at about $201,000. Institutional investors and hedge funds own 70.51% of the company’s stock.
NYSE JPM opened at $114.52 on Friday. JPMorgan Chase & Co. has a 52 week low of $94.91 and a 52 week high of $119.33. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.18. The stock has a market capitalization of $399.45 billion, a price-to-earnings ratio of 16.64, a PEG ratio of 1.90 and a beta of 1.16.
JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Friday, July 13th. The financial services provider reported $2.29 EPS for the quarter, topping the consensus estimate of $2.22 by $0.07. JPMorgan Chase & Co. had a net margin of 22.80% and a return on equity of 13.18%. The firm had revenue of $27.75 billion during the quarter, compared to analysts’ expectations of $27.62 billion. equities analysts expect that JPMorgan Chase & Co. will post 9.17 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 31st. Stockholders of record on Friday, October 5th will be issued a $0.80 dividend. The ex-dividend date is Thursday, October 4th. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $0.56. This represents a $3.20 annualized dividend and a dividend yield of 2.79%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 32.61%.
JPM has been the subject of a number of recent research reports. Keefe, Bruyette & Woods reaffirmed a “$111.53” rating and set a $127.00 price objective on shares of JPMorgan Chase & Co. in a research report on Wednesday, July 18th. Royal Bank of Canada reaffirmed a “buy” rating and set a $120.00 price objective on shares of JPMorgan Chase & Co. in a research report on Monday, July 16th. Credit Suisse Group set a $130.00 price objective on shares of JPMorgan Chase & Co. and gave the company a “buy” rating in a research report on Thursday, July 12th. DZ Bank raised shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating in a research report on Thursday, July 19th. Finally, UBS Group raised shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating in a research report on Thursday, July 19th. Eleven analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. JPMorgan Chase & Co. currently has an average rating of “Buy” and an average target price of $122.13.
In other news, CEO Gordon Smith sold 30,725 shares of the stock in a transaction that occurred on Monday, July 23rd. The shares were sold at an average price of $114.01, for a total value of $3,502,957.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.73% of the company’s stock.
About JPMorgan Chase & Co.
JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking, and Asset & Wealth Management. The Consumer & Community Banking segment offers deposit and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; residential mortgages and home equity loans; and credit cards, payment processing services, auto loans and leases.
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