Malaga Cove Capital LLC Acquires 587 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Malaga Cove Capital LLC lifted its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 2.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,459 shares of the financial services provider’s stock after purchasing an additional 587 shares during the period. JPMorgan Chase & Co. comprises 1.6% of Malaga Cove Capital LLC’s holdings, making the stock its 9th biggest holding. Malaga Cove Capital LLC’s holdings in JPMorgan Chase & Co. were worth $3,471,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in JPM. Joseph Group Capital Management acquired a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth approximately $1,353,000. Evolution Advisers Inc. acquired a new stake in JPMorgan Chase & Co. in the fourth quarter valued at approximately $52,000. Leverty Financial Group LLC acquired a new stake in JPMorgan Chase & Co. in the fourth quarter valued at approximately $54,000. Delos Wealth Advisors LLC raised its position in shares of JPMorgan Chase & Co. by 13,433.3% in the fourth quarter. Delos Wealth Advisors LLC now owns 406 shares of the financial services provider’s stock valued at $64,000 after purchasing an additional 403 shares during the period. Finally, Landmark Wealth Management LLC bought a new position in shares of JPMorgan Chase & Co. in the first quarter valued at approximately $46,000. 70.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on JPM shares. StockNews.com began coverage on shares of JPMorgan Chase & Co. in a report on Thursday, March 31st. They set a “hold” rating for the company. Royal Bank of Canada cut their price objective on shares of JPMorgan Chase & Co. to $130.00 in a research report on Thursday, July 14th. Wells Fargo & Company lowered their price objective on shares of JPMorgan Chase & Co. from $120.00 to $118.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 14th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $148.00 price objective (up previously from $142.00) on shares of JPMorgan Chase & Co. in a report on Tuesday, May 24th. Finally, UBS Group dropped their price target on JPMorgan Chase & Co. from $134.00 to $126.00 and set a “buy” rating for the company in a research note on Friday, July 15th. One analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, JPMorgan Chase & Co. currently has a consensus rating of “Hold” and an average target price of $145.95.

JPMorgan Chase & Co. Stock Performance

Shares of NYSE:JPM opened at $115.32 on Friday. JPMorgan Chase & Co. has a 52 week low of $106.06 and a 52 week high of $172.96. The stock has a market capitalization of $338.70 billion, a P/E ratio of 9.26, a PEG ratio of 2.04 and a beta of 1.15. The firm has a fifty day simple moving average of $118.93 and a two-hundred day simple moving average of $133.26. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.14.

JPMorgan Chase & Co. (NYSE:JPMGet Rating) last released its quarterly earnings results on Thursday, July 14th. The financial services provider reported $2.76 EPS for the quarter, hitting analysts’ consensus estimates of $2.76. JPMorgan Chase & Co. had a net margin of 30.41% and a return on equity of 15.29%. The firm had revenue of $30.72 billion during the quarter, compared to analysts’ expectations of $31.82 billion. During the same period in the previous year, the company earned $3.78 EPS. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. On average, analysts expect that JPMorgan Chase & Co. will post 11.24 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, July 31st. Shareholders of record on Wednesday, July 6th will be given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date of this dividend is Tuesday, July 5th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 32.10%.

About JPMorgan Chase & Co.

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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.

Further Reading

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

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