Traynor Capital Management Inc. Buys 1,812 Shares of JPMorgan Chase & Co. $JPM

Traynor Capital Management Inc. raised its stake in JPMorgan Chase & Co. (NYSE:JPM – Free Report) by 3.0% during the third quarter, HoldingsChannel.com reports. The fund owned 61,906 shares of the financial services provider’s stock after purchasing an additional 1,812 shares during the quarter. JPMorgan Chase & Co. comprises approximately 0.9% of Traynor Capital Management Inc.’s holdings, making the stock its 21st biggest position. Traynor Capital Management Inc.’s holdings in JPMorgan Chase & Co. were worth $20,480,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bank of America Corp DE lifted its position in shares of JPMorgan Chase & Co. by 15.8% in the first quarter. Bank of America Corp DE now owns 65,660,460 shares of the financial services provider’s stock worth $19,314,681,000 after buying an additional 8,941,351 shares in the last quarter. Ascentis Wealth Management LLC raised its stake in JPMorgan Chase & Co. by 32,672.0% during the second quarter. Ascentis Wealth Management LLC now owns 4,647,071 shares of the financial services provider’s stock valued at $1,521,126,000 after purchasing an additional 4,632,891 shares in the last quarter. Jupiter Topco LLC purchased a new stake in JPMorgan Chase & Co. during the second quarter valued at $1,274,097,000. Healthcare of Ontario Pension Plan Trust Fund raised its stake in JPMorgan Chase & Co. by 31.5% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 6,944,004 shares of the financial services provider’s stock valued at $2,042,648,000 after purchasing an additional 1,662,250 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its position in JPMorgan Chase & Co. by 22.9% during the second quarter. Canada Pension Plan Investment Board now owns 8,020,990 shares of the financial services provider’s stock valued at $2,625,511,000 after purchasing an additional 1,496,676 shares during the last quarter. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. News Summary

Here are the key news stories impacting JPMorgan Chase & Co. this week:

Analyst Ratings Changes

JPM has been the subject of several recent research reports. UBS Group lifted their price target on JPMorgan Chase & Co. from $395.00 to $400.00 and gave the stock a “buy” rating in a research report on Monday, November 2nd. The Goldman Sachs Group reiterated an “outperform” rating and issued a $392.00 price target on shares of JPMorgan Chase & Co. in a report on Tuesday, October 13th. Wall Street Zen lowered JPMorgan Chase & Co. from a “hold” rating to a “sell” rating in a research note on Saturday. Weiss Ratings cut JPMorgan Chase & Co. from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Friday, October 23rd. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, October 14th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and thirteen have issued a Hold rating to the company. According to data from MarketBeat, JPMorgan Chase & Co. presently has a consensus rating of “Moderate Buy” and an average target price of $368.33.

View Our Latest Stock Analysis on JPMorgan Chase & Co.

JPMorgan Chase & Co. Stock Down 0.8%

JPM stock traded down $2.67 during mid-day trading on Friday, reaching $334.67. The company had a trading volume of 7,818,025 shares, compared to its average volume of 6,948,441. JPMorgan Chase & Co. has a fifty-two week low of $279.10 and a fifty-two week high of $366.50. The firm has a fifty day simple moving average of $341.87 and a 200 day simple moving average of $323.78. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market capitalization of $889.61 billion, a price-to-earnings ratio of 14.04, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03.

JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last issued its earnings results on Tuesday, October 13th. The financial services provider reported $5.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.94 by ($0.19). JPMorgan Chase & Co. had a net margin of 21.85% and a return on equity of 18.48%. The company had revenue of $50.17 billion during the quarter, compared to analyst estimates of $51.23 billion. During the same quarter in the previous year, the company posted $5.07 EPS. The company’s quarterly revenue was up 8.1% on a year-over-year basis. Analysts forecast that JPMorgan Chase & Co. will post 23.95 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, October 31st. Investors of record on Tuesday, October 6th were paid a $1.65 dividend. This represents a $6.60 dividend on an annualized basis and a dividend yield of 2.0%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.50. The ex-dividend date was Tuesday, October 6th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 27.68%.

Insider Activity at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, insider Robin Leopold sold 2,500 shares of the company’s stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $352.81, for a total transaction of $882,025.00. Following the transaction, the insider directly owned 71,047 shares in the company, valued at approximately $25,066,092.07. This represents a 3.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.41% of the company’s stock.

About JPMorgan Chase & Co.

(Free Report)

JPMorgan Chase & Co is a global financial services company serving consumers, businesses, institutional clients and governments. Its operations include consumer and community banking, corporate and investment banking, commercial banking, and asset and wealth management.

The company offers services such as deposit accounts, credit cards, mortgages, auto financing, lending, payment processing and investment advice. It also provides institutional clients with investment banking, markets, treasury and securities services, and commercial lending.

Headquartered in New York City, JPMorgan Chase serves customers across the United States and operates in many international markets.

See Also

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Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

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