Prestige Wealth Management Group LLC Increases Stake in JPMorgan Chase & Co. (NYSE:JPM)

Prestige Wealth Management Group LLC grew its stake in JPMorgan Chase & Co. (NYSE:JPMGet Rating) by 7.4% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 13,299 shares of the financial services provider’s stock after buying an additional 921 shares during the quarter. Prestige Wealth Management Group LLC’s holdings in JPMorgan Chase & Co. were worth $1,390,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Homestead Advisers Corp lifted its stake in JPMorgan Chase & Co. by 1.0% during the second quarter. Homestead Advisers Corp now owns 1,165,236 shares of the financial services provider’s stock worth $131,217,000 after purchasing an additional 11,000 shares during the last quarter. Total Clarity Wealth Management Inc. lifted its stake in JPMorgan Chase & Co. by 3.7% during the second quarter. Total Clarity Wealth Management Inc. now owns 11,430 shares of the financial services provider’s stock worth $1,287,000 after purchasing an additional 407 shares during the last quarter. Handelsbanken Fonder AB increased its position in JPMorgan Chase & Co. by 2.0% during the second quarter. Handelsbanken Fonder AB now owns 621,950 shares of the financial services provider’s stock worth $70,038,000 after buying an additional 12,411 shares during the period. Ballentine Partners LLC increased its position in JPMorgan Chase & Co. by 12.4% during the third quarter. Ballentine Partners LLC now owns 51,929 shares of the financial services provider’s stock worth $5,427,000 after buying an additional 5,719 shares during the period. Finally, TruWealth Advisors LLC increased its position in JPMorgan Chase & Co. by 8.5% during the second quarter. TruWealth Advisors LLC now owns 106,871 shares of the financial services provider’s stock worth $12,035,000 after buying an additional 8,332 shares during the period. Hedge funds and other institutional investors own 67.89% of the company’s stock.

JPMorgan Chase & Co. Stock Up 0.2 %

JPMorgan Chase & Co. stock opened at $135.08 on Friday. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.84 and a quick ratio of 0.84. JPMorgan Chase & Co. has a 1-year low of $101.28 and a 1-year high of $159.03. The company has a market cap of $396.22 billion, a PE ratio of 11.18, a price-to-earnings-growth ratio of 2.23 and a beta of 1.13. The stock’s 50 day moving average price is $134.60 and its 200 day moving average price is $122.65.

JPMorgan Chase & Co. (NYSE:JPMGet Rating) last posted its earnings results on Friday, January 13th. The financial services provider reported $3.57 EPS for the quarter, topping analysts’ consensus estimates of $3.14 by $0.43. The company had revenue of $34.55 billion for the quarter, compared to the consensus estimate of $34.23 billion. JPMorgan Chase & Co. had a return on equity of 14.68% and a net margin of 24.34%. JPMorgan Chase & Co.’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same period in the previous year, the business earned $3.33 earnings per share. On average, sell-side analysts predict that JPMorgan Chase & Co. will post 12.81 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 31st. Shareholders of record on Friday, January 6th will be given a dividend of $1.00 per share. The ex-dividend date is Thursday, January 5th. This represents a $4.00 dividend on an annualized basis and a yield of 2.96%. JPMorgan Chase & Co.’s payout ratio is 33.11%.

Insiders Place Their Bets

In other news, Director Mellody L. Hobson bought 375 shares of the firm’s stock in a transaction on Thursday, January 19th. The shares were bought at an average cost of $134.53 per share, for a total transaction of $50,448.75. Following the completion of the transaction, the director now owns 22,040 shares in the company, valued at $2,965,041.20. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Vice Chairman Peter Scher sold 4,399 shares of the company’s stock in a transaction on Tuesday, January 17th. The stock was sold at an average price of $140.32, for a total value of $617,267.68. Following the sale, the insider now directly owns 36,369 shares in the company, valued at $5,103,298.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mellody L. Hobson acquired 375 shares of JPMorgan Chase & Co. stock in a transaction dated Thursday, January 19th. The stock was bought at an average price of $134.53 per share, for a total transaction of $50,448.75. Following the completion of the transaction, the director now directly owns 22,040 shares of the company’s stock, valued at $2,965,041.20. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 46,336 shares of company stock worth $6,372,156. 0.79% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have commented on JPM shares. StockNews.com started coverage on JPMorgan Chase & Co. in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft lowered JPMorgan Chase & Co. from a “buy” rating to a “hold” rating and cut their price target for the stock from $155.00 to $145.00 in a research report on Friday, January 6th. The Goldman Sachs Group cut their price target on JPMorgan Chase & Co. from $133.00 to $130.00 and set a “buy” rating on the stock in a research report on Tuesday, October 4th. Barclays lifted their price target on JPMorgan Chase & Co. from $162.00 to $189.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 3rd. Finally, Royal Bank of Canada set a $130.00 target price on JPMorgan Chase & Co. in a report on Friday, January 13th. Seven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $147.89.

JPMorgan Chase & Co. Company Profile

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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

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

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