Shell Asset Management Co. cut its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 50.8% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 116,403 shares of the financial services provider’s stock after selling 120,131 shares during the period. Shell Asset Management Co.’s holdings in JPMorgan Chase & Co. were worth $15,868,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in JPM. Norges Bank acquired a new position in JPMorgan Chase & Co. during the fourth quarter worth $4,092,843,000. GQG Partners LLC grew its holdings in shares of JPMorgan Chase & Co. by 403.3% during the fourth quarter. GQG Partners LLC now owns 5,095,612 shares of the financial services provider’s stock worth $806,728,000 after buying an additional 4,083,231 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of JPMorgan Chase & Co. by 1,543.7% during the fourth quarter. Renaissance Technologies LLC now owns 3,341,486 shares of the financial services provider’s stock worth $529,124,000 after buying an additional 3,138,200 shares in the last quarter. State Street Corp grew its holdings in shares of JPMorgan Chase & Co. by 1.6% during the fourth quarter. State Street Corp now owns 141,720,090 shares of the financial services provider’s stock worth $22,441,376,000 after buying an additional 2,277,065 shares in the last quarter. Finally, Schroder Investment Management Group grew its holdings in shares of JPMorgan Chase & Co. by 21.4% during the fourth quarter. Schroder Investment Management Group now owns 5,393,466 shares of the financial services provider’s stock worth $854,055,000 after buying an additional 952,346 shares in the last quarter. 70.35% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of equities research analysts have recently issued reports on JPM shares. BMO Capital Markets upped their target price on shares of JPMorgan Chase & Co. from $150.00 to $156.00 in a report on Tuesday, May 24th. Barclays set a $200.00 target price on shares of JPMorgan Chase & Co. in a report on Monday, July 18th. The Goldman Sachs Group set a $151.00 target price on shares of JPMorgan Chase & Co. and gave the stock a “buy” rating in a report on Thursday, April 14th. Jefferies Financial Group dropped their price objective on shares of JPMorgan Chase & Co. from $137.00 to $126.00 and set a “hold” rating for the company in a report on Monday, July 11th. Finally, Morgan Stanley dropped their price objective on shares of JPMorgan Chase & Co. from $149.00 to $127.00 and set an “underweight” rating for the company in a report on Tuesday, July 12th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $145.95.
JPMorgan Chase & Co. Stock Up 0.5 %
JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last issued its quarterly earnings results on Thursday, July 14th. The financial services provider reported $2.76 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.76. The business had revenue of $30.72 billion for the quarter, compared to analysts’ expectations of $31.82 billion. JPMorgan Chase & Co. had a net margin of 30.41% and a return on equity of 15.29%. The business’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.78 earnings per share. Analysts forecast that JPMorgan Chase & Co. will post 11.23 earnings per share for the current fiscal year.
JPMorgan Chase & Co. Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Sunday, July 31st. Investors of record on Wednesday, July 6th were issued a $1.00 dividend. The ex-dividend date was Tuesday, July 5th. This represents a $4.00 annualized dividend and a yield of 3.47%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 32.10%.
JPMorgan Chase & Co. Company Profile
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 s deposit, investment and lending products, payments, 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, auto loan, and leasing services.
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