JPMorgan Chase & Co. (JPM) Stake Increased by River & Mercantile Asset Management LLP
River & Mercantile Asset Management LLP lifted its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 3.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 107,396 shares of the financial services provider’s stock after buying an additional 3,944 shares during the period. JPMorgan Chase & Co. comprises approximately 1.2% of River & Mercantile Asset Management LLP’s portfolio, making the stock its 15th biggest position. River & Mercantile Asset Management LLP’s holdings in JPMorgan Chase & Co. were worth $11,204,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of JPM. Ballew Advisors Inc boosted its position in JPMorgan Chase & Co. by 104.2% during the second quarter. Ballew Advisors Inc now owns 1,213 shares of the financial services provider’s stock valued at $126,000 after purchasing an additional 619 shares during the last quarter. Financial Gravity Wealth Inc. bought a new position in JPMorgan Chase & Co. during the first quarter valued at about $150,000. Stelac Advisory Services LLC bought a new position in JPMorgan Chase & Co. during the first quarter valued at about $162,000. Private Ocean LLC raised its holdings in JPMorgan Chase & Co. by 94.7% during the first quarter. Private Ocean LLC now owns 1,694 shares of the financial services provider’s stock valued at $186,000 after buying an additional 824 shares in the last quarter. Finally, Avenir Corp bought a new position in JPMorgan Chase & Co. during the first quarter valued at about $201,000. 70.36% of the stock is owned by institutional investors and hedge funds.
In other JPMorgan Chase & Co. news, Director Mellody L. Hobson acquired 1,150 shares of the company’s stock in a transaction dated Friday, October 19th. The shares were acquired at an average cost of $108.94 per share, for a total transaction of $125,281.00. Following the completion of the purchase, the director now owns 2,632 shares of the company’s stock, valued at approximately $286,730.08. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.73% of the company’s stock.
JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Friday, October 12th. The financial services provider reported $2.34 EPS for the quarter, topping analysts’ consensus estimates of $2.24 by $0.10. The business had revenue of $27.26 billion for the quarter, compared to analyst estimates of $27.20 billion. JPMorgan Chase & Co. had a return on equity of 13.90% and a net margin of 23.39%. During the same period in the previous year, the company posted $1.76 earnings per share. Analysts anticipate that JPMorgan Chase & Co. will post 9.26 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 31st. Stockholders of record on Friday, October 5th were paid a $0.80 dividend. The ex-dividend date was Thursday, October 4th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $0.56. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.91%. JPMorgan Chase & Co.’s payout ratio is presently 46.58%.
Several research firms have weighed in on JPM. Wells Fargo & Co set a $130.00 target price on JPMorgan Chase & Co. and gave the company a “buy” rating in a report on Thursday. Goldman Sachs Group set a $128.00 target price on JPMorgan Chase & Co. and gave the company a “neutral” rating in a report on Monday, July 23rd. Zacks Investment Research lowered JPMorgan Chase & Co. from a “buy” rating to a “hold” rating in a report on Thursday. Citigroup raised their target price on JPMorgan Chase & Co. from $115.00 to $125.00 and gave the company a “neutral” rating in a report on Wednesday, September 26th. Finally, DZ Bank upgraded JPMorgan Chase & Co. from a “hold” rating to a “buy” rating in a report on Thursday, July 19th. Nine analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $123.44.
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JPMorgan Chase & Co. Profile
JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking, and Asset & Wealth Management. The Consumer & Community Banking segment offers deposit and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; residential mortgages and home equity loans; and credit cards, payment processing services, auto loans and leases.
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