Manning & Napier Group LLC boosted its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 9.0% in the 2nd quarter, HoldingsChannel reports. The firm owned 733,764 shares of the financial services provider’s stock after purchasing an additional 60,734 shares during the quarter. Manning & Napier Group LLC’s holdings in JPMorgan Chase & Co. were worth $82,627,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Dravo Bay LLC bought a new position in JPMorgan Chase & Co. in the 1st quarter worth approximately $26,000. Advanced Research Investment Solutions LLC boosted its position in shares of JPMorgan Chase & Co. by 118.2% during the 1st quarter. Advanced Research Investment Solutions LLC now owns 288 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 156 shares during the last quarter. Swaine & Leidel Wealth Services LLC bought a new position in shares of JPMorgan Chase & Co. during the 1st quarter valued at approximately $44,000. Landmark Wealth Management LLC bought a new position in shares of JPMorgan Chase & Co. during the 1st quarter valued at approximately $46,000. Finally, Cordant Inc. bought a new position in shares of JPMorgan Chase & Co. during the 1st quarter valued at approximately $47,000. 68.57% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of research analysts have recently commented on JPM shares. Barclays set a $200.00 target price on JPMorgan Chase & Co. in a research report on Monday, July 18th. Credit Suisse Group set a $145.00 target price on JPMorgan Chase & Co. in a research report on Monday, August 8th. Royal Bank of Canada set a $130.00 target price on JPMorgan Chase & Co. in a research report on Tuesday, September 6th. Oppenheimer decreased their price target on JPMorgan Chase & Co. from $154.00 to $153.00 and set an “outperform” rating on the stock in a report on Friday, July 15th. Finally, Morgan Stanley decreased their price target on JPMorgan Chase & Co. from $149.00 to $127.00 and set an “underweight” rating on the stock in a report on Tuesday, July 12th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $145.95.
JPMorgan Chase & Co. Price Performance
JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last issued its quarterly earnings data on Thursday, July 14th. The financial services provider reported $2.76 earnings per share for the quarter, missing analysts’ consensus estimates of $2.85 by ($0.09). JPMorgan Chase & Co. had a net margin of 30.41% and a return on equity of 15.29%. The company had revenue of $30.72 billion for the quarter, compared to the consensus estimate of $31.82 billion. During the same period in the previous year, the business earned $3.78 EPS. JPMorgan Chase & Co.’s revenue for the quarter was up .8% compared to the same quarter last year. On average, equities research analysts anticipate that JPMorgan Chase & Co. will post 11.32 earnings per share for the current fiscal year.
JPMorgan Chase & Co. Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Thursday, October 6th will be given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 3.56%. JPMorgan Chase & Co.’s payout ratio is currently 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.
- Get a free copy of the StockNews.com research report on JPMorgan Chase & Co. (JPM)
- The Worst May be Over for Target, But is the Stock Safe to Buy?
- Are These Liquid Natural Gas Stocks Ready For An Upside Bounce?
- Two Fun Stocks The Insiders Are Buying
- Novavax Remains a Risk-On Stock in a Risk-Off Market
- General Mills: Superior Returns With Less Volatility
Receive News & Ratings for JPMorgan Chase & Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for JPMorgan Chase & Co. and related companies with MarketBeat.com's FREE daily email newsletter.