Pinnacle Financial Partners Inc. grew its stake in JPMorgan Chase & Co. (NYSE:JPM) by 16.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 122,733 shares of the financial services provider’s stock after buying an additional 17,501 shares during the period. JPMorgan Chase & Co. accounts for 1.4% of Pinnacle Financial Partners Inc.’s investment portfolio, making the stock its 10th largest holding. Pinnacle Financial Partners Inc.’s holdings in JPMorgan Chase & Co. were worth $13,125,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently modified their holdings of JPM. Stifel Financial Corp raised its position in JPMorgan Chase & Co. by 9,301.6% in the 3rd quarter. Stifel Financial Corp now owns 4,351,736 shares of the financial services provider’s stock valued at $415,662,000 after purchasing an additional 4,305,449 shares during the last quarter. Jennison Associates LLC raised its position in JPMorgan Chase & Co. by 11.7% in the 4th quarter. Jennison Associates LLC now owns 17,180,823 shares of the financial services provider’s stock valued at $1,837,317,000 after purchasing an additional 1,804,721 shares during the last quarter. Atlantic Trust Group LLC raised its position in JPMorgan Chase & Co. by 62.6% in the 3rd quarter. Atlantic Trust Group LLC now owns 4,398,186 shares of the financial services provider’s stock valued at $420,070,000 after purchasing an additional 1,692,999 shares during the last quarter. Caxton Associates LP raised its position in JPMorgan Chase & Co. by 18,506.8% in the 3rd quarter. Caxton Associates LP now owns 1,097,800 shares of the financial services provider’s stock valued at $104,851,000 after purchasing an additional 1,091,900 shares during the last quarter. Finally, CI Investments Inc. raised its position in JPMorgan Chase & Co. by 147.8% in the 4th quarter. CI Investments Inc. now owns 1,805,968 shares of the financial services provider’s stock valued at $193,130,000 after purchasing an additional 1,077,106 shares during the last quarter. Institutional investors and hedge funds own 72.18% of the company’s stock.
Get JPMorgan Chase & Co. alerts:Shares of JPMorgan Chase & Co. opened at $110.66 on Monday, according to MarketBeat Ratings. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.19. The stock has a market capitalization of $379.78 billion, a PE ratio of 16.11, a P/E/G ratio of 1.83 and a beta of 1.24. JPMorgan Chase & Co. has a 52-week low of $81.64 and a 52-week high of $119.33.
JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Friday, April 13th. The financial services provider reported $2.37 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.28 by $0.09. The business had revenue of $27.90 billion during the quarter, compared to the consensus estimate of $27.73 billion. JPMorgan Chase & Co. had a net margin of 22.53% and a return on equity of 12.60%. The business’s revenue was up 12.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.65 EPS. equities research analysts forecast that JPMorgan Chase & Co. will post 9.05 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 31st. Stockholders of record on Friday, July 6th will be issued a $0.56 dividend. The ex-dividend date is Thursday, July 5th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.02%. JPMorgan Chase & Co.’s dividend payout ratio is presently 32.61%.
Several analysts recently commented on the stock. Morgan Stanley reduced their price target on shares of JPMorgan Chase & Co. from $138.00 to $135.00 and set an “overweight” rating for the company in a research report on Monday, April 30th. Jefferies Group reiterated a “buy” rating and issued a $122.00 price target on shares of JPMorgan Chase & Co. in a research report on Monday, April 16th. BMO Capital Markets reiterated a “hold” rating and issued a $110.00 price target on shares of JPMorgan Chase & Co. in a research report on Friday, April 13th. HSBC assumed coverage on shares of JPMorgan Chase & Co. in a research report on Wednesday, April 11th. They issued a “hold” rating and a $111.00 price target for the company. Finally, Vining Sparks reiterated a “buy” rating and issued a $130.00 price target on shares of JPMorgan Chase & Co. in a research report on Friday, April 6th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $112.75.
In related news, Director Mellody L. Hobson purchased 18,000 shares of the business’s stock in a transaction dated Monday, April 16th. The stock was acquired at an average price of $111.05 per share, for a total transaction of $1,998,900.00. Following the acquisition, the director now directly owns 864 shares of the company’s stock, valued at approximately $95,947.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Todd A. Combs purchased 13,000 shares of the business’s stock in a transaction dated Monday, May 14th. The stock was bought at an average price of $114.61 per share, with a total value of $1,489,930.00. Following the acquisition, the director now directly owns 18,277 shares in the company, valued at $2,094,726.97. The disclosure for this purchase can be found here. Company insiders own 0.73% of the company’s stock.
JPMorgan Chase & Co. Profile
JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking, and Asset & Wealth Management. The Consumer & Community Banking segment offers deposit and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; residential mortgages and home equity loans; and credit cards, payment processing services, auto loans and leases.
Want to see what other hedge funds are holding JPM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for JPMorgan Chase & Co. (NYSE:JPM).
No comments:
Post a Comment