PM CAPITAL Ltd Boosts Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)
PM CAPITAL Ltd grew its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 12.6% in the third quarter, according to its most recent filing with the SEC. The fund owned 313,148 shares of the financial services provider’s stock after acquiring an additional 35,100 shares during the period. JPMorgan Chase & Co. comprises about 6.8% of PM CAPITAL Ltd’s portfolio, making the stock its 6th largest holding. PM CAPITAL Ltd’s holdings in JPMorgan Chase & Co. were worth $30,147,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Your Advocates Ltd. LLP lifted its stake in JPMorgan Chase & Co. by 250.0% during the second quarter. Your Advocates Ltd. LLP now owns 175 shares of the financial services provider’s stock valued at $67,000 after buying an additional 125 shares in the last quarter. NuWave Investment Management LLC acquired a new stake in shares of JPMorgan Chase & Co. during the second quarter valued at approximately $30,000. Provident Wealth Management LLC acquired a new stake in shares of JPMorgan Chase & Co. during the third quarter valued at approximately $34,000. FAI Wealth Management lifted its position in shares of JPMorgan Chase & Co. by 317.0% in the 2nd quarter. FAI Wealth Management now owns 417 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 317 shares in the last quarter. Finally, Bay Harbor Wealth Management LLC boosted its stake in JPMorgan Chase & Co. by 18.3% in the 2nd quarter. Bay Harbor Wealth Management LLC now owns 692 shares of the financial services provider’s stock worth $65,000 after purchasing an additional 107 shares during the period. 69.35% of the stock is owned by institutional investors and hedge funds.
A number of research firms have recently issued reports on JPM. Credit Suisse Group restated a “buy” rating and issued a $126.00 target price (up previously from $122.00) on shares of JPMorgan Chase & Co. in a report on Wednesday. Independent Research raised JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and increased their price objective for the stock from $100.00 to $110.00 in a research note on Tuesday, September 29th. Seaport Global Securities assumed coverage on JPMorgan Chase & Co. in a research note on Wednesday, July 8th. They set a “buy” rating and a $119.00 target price on the stock. Berenberg Bank upped their target price on JPMorgan Chase & Co. from $77.00 to $80.00 and gave the company a “sell” rating in a report on Monday, July 20th. Finally, Atlantic Securities upgraded shares of JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating and set a $120.00 price target for the company in a report on Wednesday, July 22nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and seventeen have given a buy rating to the company’s stock. JPMorgan Chase & Co. currently has a consensus rating of “Buy” and an average price target of $111.59.
JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Monday, October 19th. The financial services provider reported $2.92 earnings per share for the quarter, topping analysts’ consensus estimates of $2.23 by $0.69. JPMorgan Chase & Co. had a return on equity of 10.75% and a net margin of 18.16%. The company had revenue of $29.90 billion during the quarter, compared to analysts’ expectations of $28.20 billion. During the same quarter in the previous year, the firm earned $2.68 earnings per share. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that JPMorgan Chase & Co. will post 6.48 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Saturday, October 31st. Shareholders of record on Tuesday, October 6th will be issued a dividend of $0.90 per share. The ex-dividend date is Monday, October 5th. This represents a $3.60 annualized dividend and a yield of 3.55%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 34.35%.
About JPMorgan Chase & Co.
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 deposit and investment products 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, payment processing, auto loan, and leasing services.
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