Quadrant Private Wealth Management LLC Grows Position in JPMorgan Chase & Co. $JPM

Quadrant Private Wealth Management LLC raised its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 12.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,242 shares of the financial services provider’s stock after purchasing an additional 1,884 shares during the quarter. Quadrant Private Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $5,072,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in JPM. Norges Bank acquired a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at $11,396,496,000. Cardano Risk Management B.V. lifted its position in JPMorgan Chase & Co. by 889.3% during the 4th quarter. Cardano Risk Management B.V. now owns 8,673,530 shares of the financial services provider’s stock worth $2,794,785,000 after acquiring an additional 7,796,814 shares during the period. American Assets Investment Management LLC lifted its position in JPMorgan Chase & Co. by 1,172.2% during the 4th quarter. American Assets Investment Management LLC now owns 2,259,400 shares of the financial services provider’s stock worth $728,024,000 after acquiring an additional 2,081,800 shares during the period. Viking Global Investors LP grew its stake in JPMorgan Chase & Co. by 86.1% during the 2nd quarter. Viking Global Investors LP now owns 4,042,034 shares of the financial services provider’s stock valued at $1,171,826,000 after purchasing an additional 1,870,386 shares during the last quarter. Finally, PFA Pension Forsikringsaktieselskab purchased a new stake in JPMorgan Chase & Co. during the 4th quarter valued at about $474,516,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. News Summary

Here are the key news stories impacting JPMorgan Chase & Co. this week:

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock opened at $348.72 on Thursday. The stock has a market cap of $934.39 billion, a PE ratio of 14.94, a price-to-earnings-growth ratio of 1.52 and a beta of 0.99. The business has a 50-day simple moving average of $321.65 and a 200-day simple moving average of $310.67. The company has a quick ratio of 0.86, a current ratio of 0.85 and a debt-to-equity ratio of 1.30. JPMorgan Chase & Co. has a 52-week low of $279.10 and a 52-week high of $351.24.

JPMorgan Chase & Co. (NYSE:JPMGet Free Report) last issued its earnings results on Tuesday, July 14th. The financial services provider reported $6.14 EPS for the quarter, topping analysts’ consensus estimates of $5.59 by $0.55. The firm had revenue of $58.02 billion for the quarter, compared to the consensus estimate of $50.72 billion. JPMorgan Chase & Co. had a return on equity of 18.23% and a net margin of 21.86%.The company’s revenue was up 27.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.96 earnings per share. On average, equities analysts expect that JPMorgan Chase & Co. will post 23.59 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 6th will be given a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 1.7%. The ex-dividend date is Monday, July 6th. JPMorgan Chase & Co.’s dividend payout ratio is currently 25.71%.

Insiders Place Their Bets

In other news, COO Jennifer Piepszak sold 4,919 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $309.42, for a total transaction of $1,522,036.98. Following the sale, the chief operating officer owned 85,082 shares of the company’s stock, valued at $26,326,072.44. This trade represents a 5.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Stacey Friedman sold 5,467 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $330.73, for a total transaction of $1,808,100.91. Following the transaction, the general counsel directly owned 40,961 shares of the company’s stock, valued at approximately $13,547,031.53. This trade represents a 11.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 18,876 shares of company stock worth $5,907,051. Corporate insiders own 0.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on JPM shares. Dbs Bank upgraded JPMorgan Chase & Co. to a “hold” rating in a research note on Tuesday, May 12th. Morgan Stanley reiterated a “positive” rating and issued a $370.00 target price on shares of JPMorgan Chase & Co. in a research report on Wednesday, July 15th. Deutsche Bank Aktiengesellschaft upgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and set a $375.00 price target on the stock in a report on Wednesday. Wells Fargo & Company raised their price target on shares of JPMorgan Chase & Co. from $360.00 to $375.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 15th. Finally, Weiss Ratings cut shares of JPMorgan Chase & Co. from a “buy (b+)” rating to a “buy (b)” rating in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $358.67.

Check Out Our Latest Report on JPM

JPMorgan Chase & Co. Profile

(Free Report)

JPMorgan Chase & Co (NYSE: JPM) is a diversified global financial services firm headquartered in New York City. The company provides a wide range of banking and financial products and services to consumers, small businesses, corporations, governments and institutional investors worldwide. Its operations span retail banking, commercial lending, investment banking, asset management, payments and card services, and treasury and securities services.

The firm’s principal business activities are organized across several core lines: Consumer & Community Banking, which offers deposit accounts, mortgages, auto loans, credit cards and branch and digital banking under the Chase brand; Corporate & Investment Banking, which provides capital markets, advisory, underwriting, trading and risk management services; Commercial Banking, delivering lending, treasury and capital solutions to middle-market and corporate clients; and Asset & Wealth Management, which offers investment management, private banking and retirement services to institutions and high-net-worth individuals.

Further Reading

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Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

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