Edgestream Partners L.P. Invests $16.98 Million in JPMorgan Chase & Co. $JPM

Edgestream Partners L.P. acquired a new stake in JPMorgan Chase & Co. (NYSE:JPM) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 58,583 shares of the financial services provider’s stock, valued at approximately $16,984,000. JPMorgan Chase & Co. comprises about 0.5% of Edgestream Partners L.P.’s portfolio, making the stock its 6th largest position.

Other hedge funds also recently added to or reduced their stakes in the company. Mosaic Financial Group LLC lifted its position in shares of JPMorgan Chase & Co. by 0.8% during the 1st quarter. Mosaic Financial Group LLC now owns 9,296 shares of the financial services provider’s stock worth $2,280,000 after purchasing an additional 78 shares during the last quarter. Creative Planning increased its holdings in JPMorgan Chase & Co. by 2.2% in the second quarter. Creative Planning now owns 1,364,887 shares of the financial services provider’s stock valued at $395,695,000 after buying an additional 29,844 shares during the last quarter. Aviva PLC raised its stake in JPMorgan Chase & Co. by 6.0% in the second quarter. Aviva PLC now owns 2,232,458 shares of the financial services provider’s stock valued at $647,212,000 after buying an additional 126,742 shares in the last quarter. Kelman Lazarov Inc. lifted its holdings in JPMorgan Chase & Co. by 16.9% during the 2nd quarter. Kelman Lazarov Inc. now owns 1,257 shares of the financial services provider’s stock worth $364,000 after buying an additional 182 shares during the last quarter. Finally, Gladwyn Financial Advisors Inc. acquired a new position in shares of JPMorgan Chase & Co. during the 2nd quarter worth about $534,000. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Weiss Ratings reissued a “buy (b+)” rating on shares of JPMorgan Chase & Co. in a research report on Monday. The Goldman Sachs Group cut their price objective on shares of JPMorgan Chase & Co. from $355.00 to $354.00 and set a “buy” rating on the stock in a report on Friday. Evercore ISI boosted their price objective on shares of JPMorgan Chase & Co. from $309.00 to $330.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 30th. Wells Fargo & Company increased their target price on shares of JPMorgan Chase & Co. from $345.00 to $350.00 and gave the company an “overweight” rating in a research report on Monday, November 3rd. Finally, Zacks Research lowered shares of JPMorgan Chase & Co. from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 18th. Fifteen investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, JPMorgan Chase & Co. has a consensus rating of “Hold” and an average target price of $325.81.

JPMorgan Chase & Co. Stock Performance

Shares of JPMorgan Chase & Co. stock opened at $315.20 on Friday. The firm’s fifty day simple moving average is $306.73 and its 200-day simple moving average is $294.65. JPMorgan Chase & Co. has a 12 month low of $202.16 and a 12 month high of $322.25. The stock has a market capitalization of $858.06 billion, a price-to-earnings ratio of 15.61, a PEG ratio of 1.64 and a beta of 1.08. 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 issued its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.83 by $0.24. The company had revenue of $47.12 billion for the quarter, compared to the consensus estimate 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 for the quarter was up 8.8% on a year-over-year basis. During the same period last year, the firm posted $4.37 EPS. As a group, equities analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

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

Insider Transactions at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. 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 transaction of $301,314.72. Following the completion of the sale, the insider directly owned 58,479 shares of the company’s stock, valued at $18,240,769.68. This represents a 1.63% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.47% of the stock is owned by company insiders.

JPMorgan Chase & Co. 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.