Foresight Wealth Management LLC increased its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 28.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 8,375 shares of the financial services provider’s stock after buying an additional 1,871 shares during the period. Foresight Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $1,142,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also modified their holdings of JPM. Norges Bank acquired a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at about $4,092,843,000. GQG Partners LLC boosted its holdings in shares of JPMorgan Chase & Co. by 403.3% in the 4th quarter. GQG Partners LLC now owns 5,095,612 shares of the financial services provider’s stock valued at $806,728,000 after buying an additional 4,083,231 shares during the period. Renaissance Technologies LLC boosted its stake in JPMorgan Chase & Co. by 1,543.7% during the 4th quarter. Renaissance Technologies LLC now owns 3,341,486 shares of the financial services provider’s stock valued at $529,124,000 after purchasing an additional 3,138,200 shares during the period. State Street Corp boosted its stake in JPMorgan Chase & Co. by 1.6% during the 4th quarter. State Street Corp now owns 141,720,090 shares of the financial services provider’s stock valued at $22,441,376,000 after purchasing an additional 2,277,065 shares during the period. Finally, Schroder Investment Management Group boosted its stake in JPMorgan Chase & Co. by 21.4% during the 4th quarter. Schroder Investment Management Group now owns 5,393,466 shares of the financial services provider’s stock valued at $854,055,000 after purchasing an additional 952,346 shares during the period. 70.35% of the stock is owned by institutional investors and hedge funds.
JPMorgan Chase & Co. Stock Up 0.5 %
NYSE JPM opened at $115.36 on Monday. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.83 and a quick ratio of 0.82. The company’s 50 day simple moving average is $118.40 and its 200 day simple moving average is $130.58. JPMorgan Chase & Co. has a 12 month low of $106.06 and a 12 month high of $172.96. The company has a market capitalization of $338.82 billion, a P/E ratio of 9.26, a PEG ratio of 2.05 and a beta of 1.15.
JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last released its earnings results on Thursday, July 14th. The financial services provider reported $2.76 EPS for the quarter, hitting analysts’ consensus estimates of $2.76. JPMorgan Chase & Co. had a net margin of 30.41% and a return on equity of 15.29%. The business had revenue of $30.72 billion for the quarter, compared to the consensus estimate of $31.82 billion. During the same period in the previous year, the firm earned $3.78 EPS. The business’s revenue for the quarter was up .8% on a year-over-year basis. Equities research analysts expect that JPMorgan Chase & Co. will post 11.23 earnings per share for the current fiscal year.
JPMorgan Chase & Co. Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Sunday, July 31st. Stockholders of record on Wednesday, July 6th were issued a dividend of $1.00 per share. The ex-dividend date of this dividend was Tuesday, July 5th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.47%. JPMorgan Chase & Co.’s dividend payout ratio is currently 32.10%.
Wall Street Analyst Weigh In
A number of research firms have issued reports on JPM. Wells Fargo & Company reduced their target price on shares of JPMorgan Chase & Co. from $120.00 to $118.00 and set an “equal weight” rating for the company in a research note on Thursday, July 14th. The Goldman Sachs Group set a $151.00 target price on shares of JPMorgan Chase & Co. and gave the company a “buy” rating in a research note on Thursday, April 14th. Argus reduced their target price on shares of JPMorgan Chase & Co. from $177.00 to $155.00 in a research note on Thursday, April 14th. Societe Generale raised shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and upped their price target for the stock from $145.00 to $150.00 in a research note on Tuesday, May 24th. Finally, Berenberg Bank raised shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating and set a $120.00 price target for the company in a research note on Monday, July 18th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $145.95.
About JPMorgan Chase & Co.
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 s deposit, investment and lending products, payments, and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit card, auto loan, and leasing services.
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