Welch & Forbes LLC grew its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 643,853 shares of the financial services provider’s stock after buying an additional 3,233 shares during the quarter. JPMorgan Chase & Co. makes up 1.8% of Welch & Forbes LLC’s portfolio, making the stock its 15th largest position. Welch & Forbes LLC’s holdings in JPMorgan Chase & Co. were worth $75,775,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of the business. Semmax Financial Advisors Inc. acquired a new position in JPMorgan Chase & Co. in the 4th quarter valued at about $56,000. Stamos Capital Partners L.P. acquired a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $5,008,000. ERTS Wealth Advisors LLC acquired a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $177,000. Genesee Capital Advisors LLC acquired a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $920,000. Finally, CapWealth Advisors LLC grew its position in shares of JPMorgan Chase & Co. by 10.5% during the 4th quarter. CapWealth Advisors LLC now owns 60,109 shares of the financial services provider’s stock worth $5,868,000 after purchasing an additional 5,705 shares in the last quarter. 71.89% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have issued reports on the stock. Morgan Stanley set a $122.00 target price on shares of JPMorgan Chase & Co. and gave the stock a “buy” rating in a research report on Friday, August 9th. Goldman Sachs Group reiterated a “neutral” rating and set a $117.00 price target on shares of JPMorgan Chase & Co. in a research report on Monday, July 22nd. DZ Bank reiterated a “hold” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, August 21st. Deutsche Bank reiterated a “neutral” rating on shares of JPMorgan Chase & Co. in a research report on Friday, June 28th. Finally, Wells Fargo & Co set a $125.00 price target on shares of JPMorgan Chase & Co. and gave the stock a “buy” rating in a research report on Friday, August 16th. Twelve analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. JPMorgan Chase & Co. presently has an average rating of “Hold” and a consensus target price of $122.59.
Shares of NYSE JPM traded up $3.09 during trading hours on Friday, hitting $117.30. 10,297,298 shares of the stock were exchanged, compared to its average volume of 11,492,522. The company has a market cap of $357.54 billion, a PE ratio of 13.03, a price-to-earnings-growth ratio of 1.62 and a beta of 1.20. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.97 and a current ratio of 0.97. The company’s fifty day simple moving average is $113.95 and its two-hundred day simple moving average is $111.37. JPMorgan Chase & Co. has a 1-year low of $91.11 and a 1-year high of $120.40.
JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $2.82 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.50 by $0.32. The business had revenue of $28.83 billion during the quarter, compared to the consensus estimate of $28.52 billion. JPMorgan Chase & Co. had a net margin of 24.73% and a return on equity of 14.40%. The firm’s revenue was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.29 EPS. As a group, sell-side analysts expect that JPMorgan Chase & Co. will post 9.89 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 4th will be paid a $0.90 dividend. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Thursday, October 3rd. This represents a $3.60 annualized dividend and a yield of 3.07%. JPMorgan Chase & Co.’s dividend payout ratio is presently 40.00%.
In related news, insider Lori A. Beer sold 13,341 shares of the stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $114.28, for a total value of $1,524,609.48. Following the completion of the transaction, the insider now owns 10,130 shares of the company’s stock, valued at approximately $1,157,656.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Mellody L. Hobson acquired 18,200 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was bought at an average cost of $109.91 per share, with a total value of $2,000,362.00. Following the purchase, the director now owns 7,804 shares in the company, valued at $857,737.64. The disclosure for this purchase can be found here. 0.76% of the stock is owned by corporate insiders.
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 and investment products 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, payment processing, auto loan, and leasing services.
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