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Elmwood Wealth Management Inc. lessened its stake in JPMorgan Chase & Co. (NYSE:JPM) by 3.4% during the 1st quarter, Holdings Channel reports. The institutional investor owned 9,817 shares of the financial services provider’s stock after selling 347 shares during the quarter. Elmwood Wealth Management Inc.’s holdings in JPMorgan Chase & Co. were worth $2,408,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth $8,310,884,000. GAMMA Investing LLC increased its stake in shares of JPMorgan Chase & Co. by 25,861.9% during the 1st quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider’s stock worth $5,778,289,000 after purchasing an additional 23,465,278 shares during the last quarter. Northern Trust Corp increased its stake in shares of JPMorgan Chase & Co. by 15.4% during the 4th quarter. Northern Trust Corp now owns 33,845,676 shares of the financial services provider’s stock worth $8,113,147,000 after purchasing an additional 4,515,147 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in shares of JPMorgan Chase & Co. by 31.4% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 10,684,810 shares of the financial services provider’s stock worth $2,561,256,000 after purchasing an additional 2,551,899 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of JPMorgan Chase & Co. by 16.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 17,550,491 shares of the financial services provider’s stock worth $4,207,028,000 after purchasing an additional 2,465,572 shares during the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.
JPMorgan Chase & Co. Trading Down 3.1%
Shares of JPMorgan Chase & Co. stock opened at $282.86 on Wednesday. The stock has a market capitalization of $786.09 billion, a P/E ratio of 13.89, a price-to-earnings-growth ratio of 2.71 and a beta of 1.10. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.23. The company has a 50-day simple moving average of $268.71 and a 200 day simple moving average of $255.45. JPMorgan Chase & Co. has a 12-month low of $190.90 and a 12-month high of $296.40.
JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last announced its earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.63 by $0.44. The business had revenue of $45.30 billion during the quarter, compared to analysts’ expectations of $43.62 billion. JPMorgan Chase & Co. had a net margin of 21.21% and a return on equity of 16.88%. The firm’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter last year, the company posted $4.44 EPS. Research analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.
JPMorgan Chase & Co. Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 3rd will be given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date of this dividend is Thursday, July 3rd. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 27.49%.
Wall Street Analysts Forecast Growth
JPM has been the topic of several analyst reports. TD Securities restated a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, June 4th. TD Cowen started coverage on shares of JPMorgan Chase & Co. in a research note on Thursday, May 15th. They set a “buy” rating and a $305.00 price target on the stock. UBS Group upped their price objective on shares of JPMorgan Chase & Co. from $277.00 to $305.00 and gave the stock a “buy” rating in a report on Thursday, April 17th. Wall Street Zen raised shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a report on Wednesday, May 14th. Finally, Royal Bank Of Canada set a $305.00 price objective on shares of JPMorgan Chase & Co. and gave the stock an “outperform” rating in a report on Monday, June 30th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $276.80.
View Our Latest Stock Analysis on JPM
Insider Activity
In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the firm’s stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $250.00, for a total value of $2,375,000.00. Following the completion of the sale, the director owned 91,539 shares in the company, valued at approximately $22,884,750. This trade represents a 9.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Stacey Friedman sold 2,821 shares of the firm’s stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $265.71, for a total transaction of $749,567.91. Following the completion of the sale, the general counsel owned 68,757 shares of the company’s stock, valued at $18,269,422.47. The trade was a 3.94% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 71,200 shares of company stock worth $18,060,015. Company insiders own 0.47% of the company’s stock.
About JPMorgan Chase & Co.
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.
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