Alpha Omega Wealth Management LLC raised its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 1.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 37,664 shares of the financial services provider’s stock after acquiring an additional 557 shares during the period. Alpha Omega Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $5,134,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors also recently modified their holdings of the business. Norges Bank acquired a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth $4,092,843,000. GQG Partners LLC boosted its stake in JPMorgan Chase & Co. by 403.3% in the 4th quarter. GQG Partners LLC now owns 5,095,612 shares of the financial services provider’s stock worth $806,728,000 after purchasing an additional 4,083,231 shares during the period. Renaissance Technologies LLC increased its holdings in JPMorgan Chase & Co. by 1,543.7% during the 4th quarter. Renaissance Technologies LLC now owns 3,341,486 shares of the financial services provider’s stock worth $529,124,000 after purchasing an additional 3,138,200 shares in the last quarter. State Street Corp raised its stake in shares of JPMorgan Chase & Co. by 1.6% in the 4th quarter. State Street Corp now owns 141,720,090 shares of the financial services provider’s stock valued at $22,441,376,000 after purchasing an additional 2,277,065 shares during the period. Finally, Allspring Global Investments Holdings LLC bought a new stake in shares of JPMorgan Chase & Co. in the fourth quarter valued at about $277,382,000. 70.35% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
JPM has been the subject of a number of research reports. Oppenheimer decreased their price objective on JPMorgan Chase & Co. from $154.00 to $153.00 and set an “outperform” rating for the company in a report on Friday, July 15th. Evercore ISI cut their price objective on shares of JPMorgan Chase & Co. from $135.00 to $125.00 in a research report on Friday, July 15th. Societe Generale upgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and increased their target price for the stock from $145.00 to $150.00 in a report on Tuesday, May 24th. Citigroup upgraded shares of JPMorgan Chase & Co. from a “neutral” rating to a “buy” rating and lowered their price target for the company from $145.00 to $135.00 in a research note on Tuesday, July 12th. Finally, BMO Capital Markets increased their price objective on shares of JPMorgan Chase & Co. from $150.00 to $156.00 in a research note on Tuesday, May 24th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $145.95.
JPMorgan Chase & Co. Trading Up 0.7 %
JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last issued its quarterly earnings data on Thursday, July 14th. The financial services provider reported $2.76 earnings per share for the quarter, meeting the consensus estimate of $2.76. The company had revenue of $30.72 billion for the quarter, compared to analyst estimates of $31.82 billion. JPMorgan Chase & Co. had a net margin of 30.41% and a return on equity of 15.29%. The company’s revenue was up .8% on a year-over-year basis. During the same period in the prior year, the firm earned $3.78 earnings per share. Research analysts forecast that JPMorgan Chase & Co. will post 11.24 EPS for the current year.
JPMorgan Chase & Co. Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, July 31st. Stockholders of record on Wednesday, July 6th will be issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.47%. The ex-dividend date is Tuesday, July 5th. JPMorgan Chase & Co.’s dividend payout ratio is presently 32.10%.
JPMorgan Chase & Co. Company 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 s deposit, investment and lending products, payments, 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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