Everence Capital Management Inc. bought a new stake in JPMorgan Chase & Co. (NYSE:JPM) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 69,925 shares of the financial services provider’s stock, valued at approximately $10,645,000. JPMorgan Chase & Co. comprises 1.0% of Everence Capital Management Inc.’s portfolio, making the stock its 12th largest position.
A number of other institutional investors have also added to or reduced their stakes in JPM. Norges Bank bought a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth about $3,501,714,000. Sanders Capital LLC grew its holdings in shares of JPMorgan Chase & Co. by 364.4% during the fourth quarter. Sanders Capital LLC now owns 12,191,489 shares of the financial services provider’s stock worth $1,661,572,000 after purchasing an additional 9,566,427 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of JPMorgan Chase & Co. by 22.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 30,288,837 shares of the financial services provider’s stock worth $3,848,803,000 after purchasing an additional 5,610,076 shares during the last quarter. Morgan Stanley grew its holdings in shares of JPMorgan Chase & Co. by 5.5% during the fourth quarter. Morgan Stanley now owns 39,207,003 shares of the financial services provider’s stock worth $4,982,034,000 after purchasing an additional 2,044,249 shares during the last quarter. Finally, FMR LLC grew its holdings in shares of JPMorgan Chase & Co. by 4.6% during the fourth quarter. FMR LLC now owns 38,458,423 shares of the financial services provider’s stock worth $4,886,911,000 after purchasing an additional 1,691,888 shares during the last quarter. Hedge funds and other institutional investors own 69.02% of the company’s stock.
In other news, CEO Douglas B. Petno sold 22,011 shares of the company’s stock in a transaction that occurred on Friday, January 29th. The stock was sold at an average price of $129.84, for a total transaction of $2,857,908.24. 0.78% of the stock is owned by corporate insiders.
Several analysts have recently weighed in on JPM shares. Morgan Stanley boosted their price target on JPMorgan Chase & Co. from $142.00 to $150.00 and gave the stock an “underweight” rating in a report on Monday, March 8th. Barclays upped their target price on JPMorgan Chase & Co. from $172.00 to $187.00 and gave the company an “overweight” rating in a report on Wednesday. Daiwa Capital Markets started coverage on JPMorgan Chase & Co. in a report on Wednesday, January 6th. They issued an “outperform” rating and a $139.00 target price on the stock. Credit Suisse Group upped their target price on JPMorgan Chase & Co. from $150.00 to $165.00 and gave the company an “outperform” rating in a report on Monday, March 29th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on JPMorgan Chase & Co. from $142.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, April 1st. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and seventeen have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $138.89.
Shares of NYSE:JPM traded down $0.47 during trading on Thursday, reaching $154.46. 582,419 shares of the stock were exchanged, compared to its average volume of 15,497,205. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.88 and a quick ratio of 0.88. JPMorgan Chase & Co. has a 1-year low of $82.40 and a 1-year high of $161.69. The stock has a fifty day moving average of $152.02 and a two-hundred day moving average of $126.38. The firm has a market cap of $471.34 billion, a price-to-earnings ratio of 20.25, a price-to-earnings-growth ratio of 2.87 and a beta of 1.23.
JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Thursday, January 14th. The financial services provider reported $3.79 earnings per share for the quarter, topping analysts’ consensus estimates of $2.62 by $1.17. JPMorgan Chase & Co. had a return on equity of 10.85% and a net margin of 19.16%. The company had revenue of $29.22 billion for the quarter, compared to analyst estimates of $28.74 billion. During the same period in the prior year, the firm earned $2.57 earnings per share. JPMorgan Chase & Co.’s revenue for the quarter was up 3.3% on a year-over-year basis. Sell-side analysts forecast that JPMorgan Chase & Co. will post 7.83 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, April 30th. Stockholders of record on Tuesday, April 6th will be given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date is Monday, April 5th. JPMorgan Chase & Co.’s payout ratio is 34.35%.
JPMorgan Chase & Co. Company Profile
JPMorgan Chase & Co operates as a financial services company worldwide. It operates in 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, auto loan, and leasing services.
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