Bank of Nova Scotia Boosts Holdings in JPMorgan Chase & Co. $JPM

Bank of Nova Scotia increased its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 6.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,400,825 shares of the financial services provider’s stock after buying an additional 86,591 shares during the quarter. JPMorgan Chase & Co. comprises approximately 0.8% of Bank of Nova Scotia’s portfolio, making the stock its 22nd largest position. Bank of Nova Scotia owned about 0.05% of JPMorgan Chase & Co. worth $406,112,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. JFS Wealth Advisors LLC increased its position in shares of JPMorgan Chase & Co. by 0.4% during the 2nd quarter. JFS Wealth Advisors LLC now owns 7,897 shares of the financial services provider’s stock worth $2,290,000 after purchasing an additional 35 shares during the last quarter. Cottonwood Capital Advisors LLC lifted its position in JPMorgan Chase & Co. by 0.9% in the second quarter. Cottonwood Capital Advisors LLC now owns 3,837 shares of the financial services provider’s stock valued at $1,112,000 after buying an additional 35 shares during the last quarter. Coign Capital Advisors LLC boosted its stake in JPMorgan Chase & Co. by 1.2% during the second quarter. Coign Capital Advisors LLC now owns 2,854 shares of the financial services provider’s stock worth $827,000 after buying an additional 35 shares during the period. Rialto Wealth Management LLC increased its position in shares of JPMorgan Chase & Co. by 3.9% during the second quarter. Rialto Wealth Management LLC now owns 929 shares of the financial services provider’s stock valued at $269,000 after acquiring an additional 35 shares during the last quarter. Finally, Breed s Hill Capital LLC increased its position in shares of JPMorgan Chase & Co. by 0.8% during the second quarter. Breed s Hill Capital LLC now owns 4,642 shares of the financial services provider’s stock valued at $1,346,000 after acquiring an additional 35 shares during the last quarter. 71.55% of the stock is currently owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Trading Down 4.8%

NYSE:JPM opened at $300.23 on Wednesday. JPMorgan Chase & Co. has a 12-month low of $202.16 and a 12-month high of $322.25. The firm has a market cap of $817.29 billion, a PE ratio of 14.87, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.26. The stock has a fifty day moving average price of $306.41 and a 200 day moving average price of $295.75.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.83 by $0.24. The company had revenue of $47.12 billion for the quarter, compared to analyst estimates of $44.42 billion. JPMorgan Chase & Co. had a return on equity of 17.18% and a net margin of 20.90%.JPMorgan Chase & Co.’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter last year, the company earned $4.37 EPS. Sell-side analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share 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. Shareholders of record on Monday, October 6th were issued a dividend of $1.50 per share. 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 2.0%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 29.72%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on JPM shares. Weiss Ratings restated a “buy (b+)” rating on shares of JPMorgan Chase & Co. in a report on Monday. KGI Securities boosted their target price on JPMorgan Chase & Co. from $300.00 to $315.00 and gave the company a “hold” rating in a research report on Wednesday, October 15th. Daiwa Capital Markets raised their price target on JPMorgan Chase & Co. from $330.00 to $332.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 8th. TD Cowen lifted their price objective on JPMorgan Chase & Co. from $350.00 to $370.00 and gave the company a “buy” rating in a research note on Friday, October 3rd. Finally, Citigroup boosted their price objective on JPMorgan Chase & Co. from $275.00 to $325.00 and gave the company a “neutral” rating in a report on Wednesday, September 24th. Fifteen research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $325.48.

Insider Activity at JPMorgan Chase & Co.

In other news, insider Robin Leopold sold 966 shares of the firm’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $311.92, for a total value of $301,314.72. Following the sale, the insider directly owned 58,479 shares in the company, valued at approximately $18,240,769.68. This trade represents a 1.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.47% of the company’s stock.

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.