Mitchell Capital Management Co. grew its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 4.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 40,670 shares of the financial services provider’s stock after buying an additional 1,759 shares during the period. JPMorgan Chase & Co. accounts for approximately 1.2% of Mitchell Capital Management Co.’s holdings, making the stock its 16th biggest position. Mitchell Capital Management Co.’s holdings in JPMorgan Chase & Co. were worth $5,544,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of JPM. Norges Bank purchased a new position in shares of JPMorgan Chase & Co. in the 4th quarter worth about $4,092,843,000. GQG Partners LLC raised its position in shares of 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 last quarter. Renaissance Technologies LLC raised its position in shares of JPMorgan Chase & Co. by 1,543.7% in 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 during the last quarter. State Street Corp raised its position 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 worth $22,441,376,000 after purchasing an additional 2,277,065 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new position in shares of JPMorgan Chase & Co. in the 4th quarter worth about $277,382,000. Institutional investors own 70.35% of the company’s stock.
Analyst Ratings Changes
Several equities analysts have recently issued reports on JPM shares. Societe Generale raised JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and boosted their target price for the stock from $145.00 to $150.00 in a research report on Tuesday, May 24th. Berenberg Bank raised JPMorgan Chase & Co. from a “sell” rating to a “hold” rating and set a $120.00 target price for the company in a research report on Monday, July 18th. Oppenheimer decreased their target price on JPMorgan Chase & Co. from $154.00 to $153.00 and set an “outperform” rating for the company in a research report on Friday, July 15th. Royal Bank of Canada decreased their target price on JPMorgan Chase & Co. to $130.00 in a research report on Thursday, July 14th. Finally, Citigroup raised JPMorgan Chase & Co. from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $145.00 to $135.00 in a research report on Tuesday, July 12th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, JPMorgan Chase & Co. currently has a consensus rating of “Hold” and an average price target of $145.95.
JPMorgan Chase & Co. Trading Down 0.5 %
JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last posted its quarterly earnings results on Thursday, July 14th. The financial services provider reported $2.76 earnings per share for the quarter, hitting the consensus estimate of $2.76. JPMorgan Chase & Co. had a return on equity of 15.29% and a net margin of 30.41%. The business had revenue of $30.72 billion during the quarter, compared to the consensus estimate of $31.82 billion. During the same period in the prior year, the company posted $3.78 EPS. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. As a group, equities research analysts expect that JPMorgan Chase & Co. will post 11.24 EPS for the current year.
JPMorgan Chase & Co. Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Sunday, July 31st. Shareholders of record on Wednesday, July 6th will be paid a $1.00 dividend. The ex-dividend date is Tuesday, July 5th. This represents a $4.00 annualized dividend and a yield of 3.49%. JPMorgan Chase & Co.’s payout ratio is 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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