JPMorgan Chase & Co. (NYSE:JPM) Shares Purchased by Welch & Forbes LLC

Welch & Forbes LLC lifted its position in JPMorgan Chase & Co. (NYSE:JPM) by 0.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 735,641 shares of the financial services provider’s stock after acquiring an additional 4,989 shares during the period. JPMorgan Chase & Co. accounts for 1.5% of Welch & Forbes LLC’s holdings, making the stock its 16th largest position. Welch & Forbes LLC’s holdings in JPMorgan Chase & Co. were worth $76,876,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its stake in shares of JPMorgan Chase & Co. by 23.3% in the second quarter. Price T Rowe Associates Inc. MD now owns 31,667,210 shares of the financial services provider’s stock worth $3,566,044,000 after acquiring an additional 5,978,393 shares during the last quarter. Legal & General Group Plc boosted its stake in JPMorgan Chase & Co. by 4.2% during the second quarter. Legal & General Group Plc now owns 21,156,537 shares of the financial services provider’s stock worth $2,382,439,000 after buying an additional 847,094 shares during the last quarter. Franklin Resources Inc. boosted its stake in JPMorgan Chase & Co. by 21.1% during the second quarter. Franklin Resources Inc. now owns 19,739,048 shares of the financial services provider’s stock worth $2,222,815,000 after buying an additional 3,435,522 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in JPMorgan Chase & Co. by 4.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 18,607,661 shares of the financial services provider’s stock worth $2,536,598,000 after buying an additional 805,196 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its stake in JPMorgan Chase & Co. by 3.0% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 8,780,611 shares of the financial services provider’s stock worth $988,785,000 after buying an additional 259,671 shares during the last quarter. 67.89% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

JPM has been the topic of a number of recent research reports. BMO Capital Markets boosted their price objective on JPMorgan Chase & Co. from $149.00 to $158.00 and gave the stock a “market perform” rating in a research note on Monday, October 17th. Credit Suisse Group set a $155.00 price objective on JPMorgan Chase & Co. in a research note on Tuesday. Morgan Stanley lifted their target price on JPMorgan Chase & Co. from $153.00 to $167.00 and gave the company an “overweight” rating in a research report on Tuesday. StockNews.com began coverage on JPMorgan Chase & Co. in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock. Finally, Oppenheimer lifted their target price on JPMorgan Chase & Co. from $169.00 to $177.00 and gave the company an “outperform” rating in a research report on Tuesday. Seven analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, JPMorgan Chase & Co. currently has an average rating of “Moderate Buy” and an average price target of $147.89.

Insider Buying and Selling

In related news, Vice Chairman Peter Scher sold 4,399 shares of the business’s stock in a transaction on Tuesday, January 17th. The stock was sold at an average price of $140.32, for a total transaction of $617,267.68. Following the completion of the transaction, the insider now directly owns 36,369 shares of the company’s stock, valued at approximately $5,103,298.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Vice Chairman Peter Scher sold 4,399 shares of the company’s stock in a transaction dated Tuesday, January 17th. The stock was sold at an average price of $140.32, for a total transaction of $617,267.68. Following the completion of the transaction, the insider now directly owns 36,369 shares of the company’s stock, valued at approximately $5,103,298.08. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Douglas B. Petno sold 5,139 shares of the company’s stock in a transaction dated Wednesday, October 26th. The stock was sold at an average price of $125.02, for a total value of $642,477.78. Following the transaction, the chief executive officer now directly owns 248,011 shares of the company’s stock, valued at $31,006,335.22. The disclosure for this sale can be found here. Insiders sold 46,336 shares of company stock valued at $6,372,156 in the last three months. 0.79% of the stock is owned by corporate insiders.

JPMorgan Chase & Co. Price Performance

JPM stock opened at $140.80 on Wednesday. JPMorgan Chase & Co. has a 12-month low of $101.28 and a 12-month high of $159.03. The company has a market capitalization of $413.00 billion, a PE ratio of 11.66, a P/E/G ratio of 2.23 and a beta of 1.13. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.12. The business’s fifty day moving average price is $134.48 and its 200 day moving average price is $122.32.

JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last released its earnings results on Friday, January 13th. The financial services provider reported $3.57 EPS for the quarter, topping the consensus estimate of $3.14 by $0.43. JPMorgan Chase & Co. had a return on equity of 14.68% and a net margin of 24.34%. The firm had revenue of $34.55 billion during the quarter, compared to analysts’ expectations of $34.23 billion. During the same period in the previous year, the firm posted $3.33 EPS. JPMorgan Chase & Co.’s revenue for the quarter was up 18.1% on a year-over-year basis. On average, sell-side analysts anticipate that JPMorgan Chase & Co. will post 12.81 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 31st. Investors of record on Friday, January 6th will be paid a dividend of $1.00 per share. The ex-dividend date is Thursday, January 5th. This represents a $4.00 annualized dividend and a yield of 2.84%. JPMorgan Chase & Co.’s payout ratio is 33.11%.

About JPMorgan Chase & Co.

(Get Rating)

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.