Advent Capital Management DE Purchases Shares of 10,000 JPMorgan Chase & Co. $JPM

Advent Capital Management DE acquired a new position in JPMorgan Chase & Co. (NYSE:JPM) during the second quarter, according to its most recent filing with the SEC. The firm acquired 10,000 shares of the financial services provider’s stock, valued at approximately $2,899,000.

Several other hedge funds have also recently made changes to their positions in the business. Kingstone Capital Partners Texas LLC lifted its position in shares of JPMorgan Chase & Co. by 609,867.5% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 72,897,211 shares of the financial services provider’s stock worth $21,133,630,000 after purchasing an additional 72,885,260 shares during the period. Geode Capital Management LLC increased its position in shares of JPMorgan Chase & Co. by 0.5% during the second quarter. Geode Capital Management LLC now owns 61,129,271 shares of the financial services provider’s stock valued at $17,646,506,000 after buying an additional 300,160 shares during the period. Norges Bank bought a new position in JPMorgan Chase & Co. in the second quarter worth about $10,295,209,000. Goldman Sachs Group Inc. raised its stake in JPMorgan Chase & Co. by 2.7% in the first quarter. Goldman Sachs Group Inc. now owns 20,548,182 shares of the financial services provider’s stock worth $5,040,469,000 after buying an additional 548,853 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in JPMorgan Chase & Co. by 5.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 18,441,044 shares of the financial services provider’s stock worth $4,523,588,000 after buying an additional 890,553 shares during the period. 71.55% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Robin Leopold sold 966 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $311.92, for a total value of $301,314.72. Following the transaction, the insider directly owned 58,479 shares of the company’s stock, valued at approximately $18,240,769.68. This represents a 1.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.47% of the stock is currently owned by insiders.

JPMorgan Chase & Co. Stock Performance

Shares of JPMorgan Chase & Co. stock opened at $315.98 on Friday. The stock has a market cap of $860.18 billion, a price-to-earnings ratio of 15.65, a PEG ratio of 1.62 and a beta of 1.08. The firm’s 50-day moving average is $306.75 and its 200 day moving average is $294.30. JPMorgan Chase & Co. has a 1 year low of $202.16 and a 1 year high of $322.25. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.86 and a quick ratio of 0.86.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share for the quarter, beating analysts’ consensus estimates of $4.83 by $0.24. The business had revenue of $47.12 billion during the quarter, compared to analyst estimates of $44.42 billion. JPMorgan Chase & Co. had a net margin of 20.90% and a return on equity of 17.18%. JPMorgan Chase & Co.’s revenue was up 8.8% compared to the same quarter last year. During the same period last year, the business earned $4.37 EPS. Sell-side analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Monday, October 6th were given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 1.9%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend was Monday, October 6th. JPMorgan Chase & Co.’s payout ratio is 29.72%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on JPM shares. Keefe, Bruyette & Woods upped their target price on JPMorgan Chase & Co. from $330.00 to $354.00 and gave the stock an “outperform” rating in a report on Friday, October 10th. Deutsche Bank Aktiengesellschaft lifted their price target on JPMorgan Chase & Co. from $300.00 to $320.00 and gave the company a “hold” rating in a research report on Tuesday, September 30th. TD Cowen upped their price target on JPMorgan Chase & Co. from $350.00 to $370.00 and gave the stock a “buy” rating in a research note on Friday, October 3rd. Morgan Stanley raised their price objective on JPMorgan Chase & Co. from $336.00 to $338.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 15th. Finally, Evercore ISI boosted their target price on shares of JPMorgan Chase & Co. from $309.00 to $330.00 and gave the company an “outperform” rating in a report on Tuesday, September 30th. Fifteen research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $326.38.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.