Elkhorn Partners Limited Partnership Purchases New Position in JPMorgan Chase & Co. (NYSE:JPM)

Elkhorn Partners Limited Partnership purchased a new position in JPMorgan Chase & Co. (NYSE:JPM) during the first quarter, Holdings Channel reports. The institutional investor purchased 3,000 shares of the financial services provider’s stock, valued at approximately $601,000. JPMorgan Chase & Co. accounts for 0.4% of Elkhorn Partners Limited Partnership’s investment portfolio, making the stock its 16th largest position.

Other institutional investors also recently modified their holdings of the company. Stone House Investment Management LLC grew its position in JPMorgan Chase & Co. by 132.8% during the fourth quarter. Stone House Investment Management LLC now owns 156 shares of the financial services provider’s stock valued at $27,000 after buying an additional 89 shares during the period. Retirement Group LLC grew its position in JPMorgan Chase & Co. by 227.1% during the first quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 109 shares during the last quarter. Richardson Capital Management LLC bought a new position in JPMorgan Chase & Co. during the first quarter valued at approximately $34,000. Bare Financial Services Inc bought a new position in JPMorgan Chase & Co. during the fourth quarter valued at approximately $35,000. Finally, Partnership Wealth Management LLC bought a new position in shares of JPMorgan Chase & Co. in the fourth quarter worth approximately $36,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

Insider Activity

In other news, insider Elena A. Korablina sold 21,829 shares of the company’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $190.91, for a total transaction of $4,167,374.39. Following the transaction, the insider now owns 6,484 shares of the company’s stock, valued at approximately $1,237,860.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Ashley Bacon sold 5,086 shares of the stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $193.64, for a total transaction of $984,853.04. Following the completion of the sale, the insider now directly owns 217,351 shares in the company, valued at approximately $42,087,847.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Elena A. Korablina sold 21,829 shares of the stock in a transaction dated 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 sale, the insider now owns 6,484 shares of the company’s stock, valued at $1,237,860.44. The disclosure for this sale can be found here. Insiders sold a total of 72,343 shares of company stock worth $14,137,789 over the last quarter. 0.79% of the stock is currently owned by corporate insiders.

JPMorgan Chase & Co. Trading Down 0.5 %

Shares of JPM stock traded down $1.04 on Wednesday, reaching $214.15. The company had a trading volume of 3,929,001 shares, compared to its average volume of 9,181,772. The company has a 50-day moving average of $203.00 and a 200-day moving average of $192.51. JPMorgan Chase & Co. has a 12 month low of $135.19 and a 12 month high of $217.56. The company has a current ratio of 0.91, a quick ratio of 0.92 and a debt-to-equity ratio of 1.24. The stock has a market cap of $614.97 billion, a PE ratio of 12.00, a PEG ratio of 2.47 and a beta of 1.12.

JPMorgan Chase & Co. (NYSE:JPMGet 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 return on equity of 17.26% and a net margin of 20.32%. During the same quarter last year, the business earned $4.37 EPS. On average, equities analysts forecast that JPMorgan Chase & Co. will post 16.67 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, July 5th will be issued a dividend of $1.15 per share. The ex-dividend date of this dividend is Friday, July 5th. This represents a $4.60 annualized dividend and a dividend yield of 2.15%. JPMorgan Chase & Co.’s dividend payout ratio is 25.66%.

Wall Street Analysts Forecast Growth

JPM has been the subject of several recent research reports. Barclays raised their price objective on JPMorgan Chase & Co. from $212.00 to $217.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Oppenheimer boosted their price objective on JPMorgan Chase & Co. from $215.00 to $221.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. Wolfe Research cut JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a report on Monday, July 8th. Morgan Stanley lifted their price objective on JPMorgan Chase & Co. from $221.00 to $226.00 and gave the company an “overweight” rating in a report on Tuesday. Finally, Wells Fargo & Company upped their price objective on JPMorgan Chase & Co. from $220.00 to $225.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Nine investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $203.17.

Read Our Latest Report on JPM

JPMorgan Chase & Co. Company Profile

(Free Report)

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

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