Sterling Capital Management LLC Boosts Holdings in JPMorgan Chase & Co. $JPM

Sterling Capital Management LLC lifted its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.4% in the second quarter, Holdings Channel reports. The firm owned 67,265 shares of the financial services provider’s stock after buying an additional 282 shares during the period. Sterling Capital Management LLC’s holdings in JPMorgan Chase & Co. were worth $19,501,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Kingstone Capital Partners Texas LLC raised its holdings in shares of JPMorgan Chase & Co. by 609,867.5% during the second quarter. Kingstone Capital Partners Texas LLC now owns 72,897,211 shares of the financial services provider’s stock valued at $21,133,630,000 after acquiring an additional 72,885,260 shares during the last quarter. Nuveen LLC purchased a new stake in shares of JPMorgan Chase & Co. during the first quarter worth approximately $3,972,807,000. Montrusco Bolton Investments Inc. purchased a new stake in shares of JPMorgan Chase & Co. during the second quarter worth approximately $485,802,000. International Assets Investment Management LLC acquired a new position in JPMorgan Chase & Co. in the 2nd quarter valued at $458,104,000. Finally, National Bank of Canada FI lifted its holdings in JPMorgan Chase & Co. by 44.4% in the 1st quarter. National Bank of Canada FI now owns 4,518,740 shares of the financial services provider’s stock valued at $1,108,415,000 after purchasing an additional 1,388,992 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

NYSE:JPM opened at $303.63 on Monday. The company’s 50-day moving average is $307.51 and its two-hundred day moving average is $290.03. JPMorgan Chase & Co. has a 1-year low of $202.16 and a 1-year high of $322.25. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.86 and a quick ratio of 0.88. The firm has a market capitalization of $826.55 billion, a price-to-earnings ratio of 15.04, a PEG ratio of 1.84 and a beta of 1.14.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $5.07 EPS for the quarter, beating the consensus estimate of $4.83 by $0.24. JPMorgan Chase & Co. had a net margin of 20.90% and a return on equity of 17.18%. The firm had revenue of $47.12 billion for the quarter, compared to analyst estimates of $44.42 billion. During the same quarter in the previous year, the company earned $4.37 EPS. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. Analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Monday, October 6th were given a $1.50 dividend. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. This represents a $6.00 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date was Monday, October 6th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 29.72%.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, Director Linda Bammann sold 9,500 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the completion of the transaction, the director directly owned 82,207 shares in the company, valued at approximately $24,492,753.58. This represents a 10.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Robin Leopold sold 966 shares of the firm’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $311.92, for a total value of $301,314.72. Following the sale, the insider directly owned 58,479 shares of the company’s stock, valued at $18,240,769.68. The trade was a 1.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on JPM. Weiss Ratings reaffirmed a “buy (b+)” rating on shares of JPMorgan Chase & Co. in a report on Thursday. Wolfe Research upped their price objective on shares of JPMorgan Chase & Co. from $342.00 to $346.00 and gave the company an “outperform” rating in a research note on Thursday, October 16th. Evercore ISI increased their price objective on shares of JPMorgan Chase & Co. from $309.00 to $330.00 and gave the company an “outperform” rating in a report on Tuesday, September 30th. Citigroup boosted their target price on JPMorgan Chase & Co. from $275.00 to $325.00 and gave the stock a “neutral” rating in a report on Wednesday, September 24th. Finally, TD Cowen upped their price target on JPMorgan Chase & Co. from $350.00 to $370.00 and gave the company a “buy” rating in a research report on Friday, October 3rd. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $326.38.

JPMorgan Chase & Co. Profile

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.