Manhattan West Asset Management LLC raised its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 12.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,893 shares of the financial services provider’s stock after buying an additional 4,188 shares during the period. JPMorgan Chase & Co. comprises about 1.8% of Manhattan West Asset Management LLC’s holdings, making the stock its 13th largest position. Manhattan West Asset Management LLC’s holdings in JPMorgan Chase & Co. were worth $7,390,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Wellington Wealth Strategies LLC. purchased a new position in shares of JPMorgan Chase & Co. during the fourth quarter worth about $1,145,000. Etfidea LLC grew its holdings in shares of JPMorgan Chase & Co. by 5.4% during the fourth quarter. Etfidea LLC now owns 1,937 shares of the financial services provider’s stock worth $329,000 after buying an additional 100 shares during the last quarter. Cooper Financial Group grew its holdings in shares of JPMorgan Chase & Co. by 12.8% during the first quarter. Cooper Financial Group now owns 8,693 shares of the financial services provider’s stock worth $1,741,000 after buying an additional 984 shares during the last quarter. Sutton Place Investors LLC boosted its holdings in JPMorgan Chase & Co. by 179.5% in the 4th quarter. Sutton Place Investors LLC now owns 13,099 shares of the financial services provider’s stock valued at $2,228,000 after purchasing an additional 8,412 shares in the last quarter. Finally, Spartan Planning & Wealth Management boosted its holdings in JPMorgan Chase & Co. by 257.3% in the 4th quarter. Spartan Planning & Wealth Management now owns 3,780 shares of the financial services provider’s stock valued at $643,000 after purchasing an additional 2,722 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
JPM has been the topic of a number of analyst reports. StockNews.com raised JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a report on Saturday, July 13th. Wells Fargo & Company lifted their price objective on JPMorgan Chase & Co. from $220.00 to $225.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Citigroup lifted their price objective on JPMorgan Chase & Co. from $205.00 to $215.00 and gave the company a “neutral” rating in a report on Monday, July 15th. Wolfe Research lowered JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research note on Monday, July 8th. Finally, Piper Sandler boosted their price target on JPMorgan Chase & Co. from $220.00 to $230.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. Nine investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, JPMorgan Chase & Co. has an average rating of “Moderate Buy” and an average price target of $202.89.
Insider Activity at JPMorgan Chase & Co.
In related news, insider Elena A. Korablina sold 21,829 shares of JPMorgan Chase & Co. stock in a transaction on Monday, May 6th. The shares were sold at an average price of $190.91, for a total value of $4,167,374.39. Following the completion of the sale, the insider now owns 6,484 shares of the company’s stock, valued at approximately $1,237,860.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, insider Ashley Bacon sold 5,086 shares of the business’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $193.64, for a total transaction of $984,853.04. Following the transaction, the insider now owns 217,351 shares in the company, valued at approximately $42,087,847.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Elena A. Korablina sold 21,829 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $190.91, for a total transaction of $4,167,374.39. Following the completion of the sale, the insider now directly owns 6,484 shares in the company, valued at approximately $1,237,860.44. The disclosure for this sale can be found here. In the last 90 days, insiders sold 72,343 shares of company stock valued at $14,137,789. Insiders own 0.79% of the company’s stock.
JPMorgan Chase & Co. Trading Up 1.7 %
NYSE JPM traded up $3.57 on Friday, hitting $212.24. 8,027,787 shares of the stock were exchanged, compared to its average volume of 9,013,996. JPMorgan Chase & Co. has a 52-week low of $135.19 and a 52-week high of $217.56. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.91 and a quick ratio of 0.92. The company has a market capitalization of $609.48 billion, a price-to-earnings ratio of 11.84, a P/E/G ratio of 2.49 and a beta of 1.12. The company’s 50-day moving average price is $202.39 and its two-hundred day moving average price is $191.90.
JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last posted its quarterly earnings data on Friday, July 12th. The financial services provider reported $6.12 earnings per share for the quarter, topping the consensus estimate of $4.19 by $1.93. The firm had revenue of $50.80 billion for the quarter, compared to analysts’ expectations of $42.23 billion. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. During the same period in the previous year, the company posted $4.37 EPS. Research analysts predict that JPMorgan Chase & Co. will post 16.67 EPS for the current year.
JPMorgan Chase & Co. Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, July 5th will be paid a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 2.17%. The ex-dividend date is Friday, July 5th. JPMorgan Chase & Co.’s payout ratio is presently 25.66%.
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; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.
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