JPMorgan Chase & Co. $JPM is QRG Capital Management Inc.’s 8th Largest Position

QRG Capital Management Inc. lifted its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 7.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 561,209 shares of the financial services provider’s stock after acquiring an additional 38,718 shares during the quarter. JPMorgan Chase & Co. comprises approximately 1.4% of QRG Capital Management Inc.’s holdings, making the stock its 8th biggest holding. QRG Capital Management Inc.’s holdings in JPMorgan Chase & Co. were worth $162,700,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in JPM. MJT & Associates Financial Advisory Group Inc. bought a new stake in shares of JPMorgan Chase & Co. during the 1st quarter valued at about $28,000. University of Illinois Foundation acquired a new stake in shares of JPMorgan Chase & Co. in the 1st quarter worth approximately $30,000. Ryan Investment Management Inc. acquired a new stake in shares of JPMorgan Chase & Co. in the 2nd quarter worth approximately $37,000. Christopher J. Hasenberg Inc lifted its stake in JPMorgan Chase & Co. by 212.0% during the second quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 106 shares during the last quarter. Finally, Goodman Advisory Group LLC acquired a new stake in JPMorgan Chase & Co. during the first quarter valued at approximately $76,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock opened at $301.12 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.25. The company’s fifty day simple moving average is $301.61 and its 200-day simple moving average is $276.60. JPMorgan Chase & Co. has a 12 month low of $202.16 and a 12 month high of $318.01. The firm has a market cap of $828.00 billion, a PE ratio of 15.45, a P/E/G ratio of 1.97 and a beta of 1.13.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share for the quarter, beating the consensus estimate of $4.48 by $0.48. The company had revenue of $44.91 billion for the quarter, compared to analyst estimates of $43.76 billion. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The company’s revenue was down 10.5% on a year-over-year basis. During the same period in the prior year, the firm earned $6.12 earnings per share. Equities research analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, October 6th will be paid a dividend of $1.50 per share. The ex-dividend date is Monday, October 6th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. This represents a $6.00 dividend on an annualized basis and a yield of 2.0%. JPMorgan Chase & Co.’s dividend payout ratio is currently 30.79%.

Insider Transactions at JPMorgan Chase & Co.

In other news, Director Linda Bammann sold 9,500 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total value of $2,830,430.00. Following the completion of the transaction, the director owned 82,207 shares of the company’s stock, valued at approximately $24,492,753.58. This represents a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.47% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently issued reports on JPM. TD Cowen boosted their price target on shares of JPMorgan Chase & Co. from $350.00 to $370.00 and gave the company a “buy” rating in a report on Friday, October 3rd. Wells Fargo & Company increased their price target on shares of JPMorgan Chase & Co. from $325.00 to $345.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 16th. Morgan Stanley raised their target price on shares of JPMorgan Chase & Co. from $298.00 to $336.00 and gave the company an “equal weight” rating in a research note on Monday, September 29th. The Goldman Sachs Group increased their price target on shares of JPMorgan Chase & Co. from $336.00 to $350.00 and gave the company a “buy” rating in a report on Friday, October 3rd. Finally, Cowen reaffirmed a “buy” rating on shares of JPMorgan Chase & Co. in a report on Wednesday, July 16th. Fourteen analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. presently has a consensus rating of “Hold” and an average price target of $313.89.

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.