Ascension Asset Management LLC Purchases Shares of 8,804 JPMorgan Chase & Co. (NYSE:JPM)

Ascension Asset Management LLC bought a new stake in JPMorgan Chase & Co. (NYSE:JPM) in the 2nd quarter, HoldingsChannel.com reports. The firm bought 8,804 shares of the financial services provider’s stock, valued at approximately $1,280,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Bank Julius Baer & Co. Ltd Zurich grew its holdings in JPMorgan Chase & Co. by 97,681.8% during the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 2,056,747,063 shares of the financial services provider’s stock worth $299,133,293,000 after buying an additional 2,054,643,659 shares in the last quarter. Moneta Group Investment Advisors LLC lifted its position in shares of JPMorgan Chase & Co. by 105,652.2% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 98,000,567 shares of the financial services provider’s stock valued at $13,141,876,000 after buying an additional 97,907,897 shares during the last quarter. Norges Bank bought a new position in JPMorgan Chase & Co. during the fourth quarter worth about $3,894,646,000. Morgan Stanley grew its stake in JPMorgan Chase & Co. by 15.9% in the 4th quarter. Morgan Stanley now owns 59,049,256 shares of the financial services provider’s stock valued at $7,918,506,000 after buying an additional 8,088,433 shares in the last quarter. Finally, Providence Capital Advisors LLC raised its stake in shares of JPMorgan Chase & Co. by 13,205.6% during the 1st quarter. Providence Capital Advisors LLC now owns 5,395,818 shares of the financial services provider’s stock valued at $41,407,000 after purchasing an additional 5,355,265 shares during the period. Institutional investors own 68.94% of the company’s stock.

JPMorgan Chase & Co. Trading Up 0.3 %

NYSE JPM opened at $153.29 on Tuesday. The stock has a market cap of $443.16 billion, a P/E ratio of 9.15, a price-to-earnings-growth ratio of 1.80 and a beta of 1.12. JPMorgan Chase & Co. has a fifty-two week low of $123.11 and a fifty-two week high of $159.38. The stock has a 50 day simple moving average of $145.23 and a two-hundred day simple moving average of $145.34. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.90 and a current ratio of 0.90.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Friday, October 13th. The financial services provider reported $4.33 EPS for the quarter, topping analysts’ consensus estimates of $3.95 by $0.38. The company had revenue of $40.69 billion during the quarter, compared to analyst estimates of $39.63 billion. JPMorgan Chase & Co. had a return on equity of 17.97% and a net margin of 22.79%. The firm’s revenue was up 24.4% on a year-over-year basis. During the same quarter last year, the firm posted $3.12 earnings per share. On average, analysts forecast that JPMorgan Chase & Co. will post 16.67 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 31st. Investors of record on Friday, October 6th were given a dividend of $1.05 per share. The ex-dividend date of this dividend was Thursday, October 5th. This represents a $4.20 annualized dividend and a dividend yield of 2.74%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.00. JPMorgan Chase & Co.’s payout ratio is currently 25.07%.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 4,310 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $144.86, for a total transaction of $624,346.60. Following the sale, the general counsel now directly owns 53,425 shares of the company’s stock, valued at approximately $7,739,145.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.79% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on JPM shares. Atlantic Securities upped their target price on shares of JPMorgan Chase & Co. from $150.00 to $160.00 and gave the stock a “neutral” rating in a report on Tuesday, August 1st. Jefferies Financial Group reduced their target price on JPMorgan Chase & Co. from $176.00 to $169.00 in a research note on Tuesday, October 10th. StockNews.com began coverage on JPMorgan Chase & Co. in a research report on Thursday, October 5th. They set a “hold” rating on the stock. BMO Capital Markets upped their price objective on JPMorgan Chase & Co. from $167.00 to $171.00 and gave the stock a “market perform” rating in a report on Monday, October 16th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $158.00 price objective on shares of JPMorgan Chase & Co. in a report on Friday, September 8th. Nine analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $168.80.

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, investment and lending products, cash management, and payments and services to consumers and small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services.