Davis Rea LTD. Has $2.15 Million Holdings in JPMorgan Chase & Co. (JPM)
Davis Rea LTD. raised its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 2.7% during the third quarter, Holdings Channel reports. The institutional investor owned 22,457 shares of the financial services provider’s stock after buying an additional 585 shares during the period. JPMorgan Chase & Co. accounts for about 1.3% of Davis Rea LTD.’s portfolio, making the stock its 25th largest position. Davis Rea LTD.’s holdings in JPMorgan Chase & Co. were worth $2,145,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in JPM. Kohmann Bosshard Financial Services LLC purchased a new position in shares of JPMorgan Chase & Co. during the 3rd quarter worth $102,000. Welch Investments LLC purchased a new position in shares of JPMorgan Chase & Co. during the 3rd quarter worth $103,000. Legacy Advisors LLC purchased a new position in shares of JPMorgan Chase & Co. during the 3rd quarter worth $106,000. Atlantic Trust LLC purchased a new position in shares of JPMorgan Chase & Co. during the 2nd quarter worth $136,000. Finally, Lipe & Dalton purchased a new position in shares of JPMorgan Chase & Co. during the 3rd quarter worth $143,000. Hedge funds and other institutional investors own 73.82% of the company’s stock.
Shares of JPMorgan Chase & Co. (JPM) opened at $112.87 on Thursday. JPMorgan Chase & Co. has a twelve month low of $81.64 and a twelve month high of $117.35. The stock has a market capitalization of $388,990.97, a price-to-earnings ratio of 17.92, a P/E/G ratio of 1.90 and a beta of 1.23. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.01 and a quick ratio of 1.03.
The business also recently declared a quarterly dividend, which was paid on Wednesday, January 31st. Investors of record on Friday, January 5th were issued a $0.56 dividend. The ex-dividend date was Thursday, January 4th. This represents a $2.24 annualized dividend and a yield of 1.98%. JPMorgan Chase & Co.’s dividend payout ratio is currently 35.56%.
A number of research analysts have weighed in on the company. Jefferies Group set a $111.00 price target on JPMorgan Chase & Co. and gave the stock a “buy” rating in a research note on Friday, October 13th. Vetr raised JPMorgan Chase & Co. from a “strong sell” rating to a “sell” rating and set a $102.07 price target on the stock in a research note on Tuesday. BMO Capital Markets increased their price target on JPMorgan Chase & Co. from $86.00 to $91.00 and gave the stock a “market perform” rating in a research note on Friday, October 13th. Buckingham Research raised JPMorgan Chase & Co. from a “neutral” rating to a “buy” rating in a research note on Thursday, December 21st. Finally, Nomura set a $115.00 price target on JPMorgan Chase & Co. and gave the stock a “neutral” rating in a research note on Friday, January 12th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and fifteen have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $107.25.
In other news, insider Ashley Bacon sold 16,434 shares of the firm’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $112.22, for a total transaction of $1,844,223.48. Following the completion of the sale, the insider now directly owns 98,811 shares in the company, valued at $11,088,570.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mary E. Erdoes sold 65,101 shares of the firm’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $112.25, for a total value of $7,307,587.25. Following the sale, the chief executive officer now owns 479,882 shares of the company’s stock, valued at $53,866,754.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 152,047 shares of company stock valued at $17,098,115. 0.88% of the stock is owned by insiders.
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About JPMorgan Chase & Co.
JPMorgan Chase & Co is a financial holding company. The Company is engaged in investment banking, financial services. It operates in four segments, as well as a Corporate segment. Its segments are Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking and Asset Management. The Consumer & Community Banking segment offers services to consumers and businesses through bank branches, automatic teller machines (ATMs), online, mobile and telephone banking.
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