Manning & Napier Group LLC Acquires 60,734 Shares of JPMorgan Chase & Co. (NYSE:JPM)

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

JPM opened at $112.49 on Thursday. JPMorgan Chase & Co. has a 12-month low of $106.06 and a 12-month high of $172.96. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 1.14. The business’s fifty day simple moving average is $116.03 and its 200-day simple moving average is $122.29. The company has a market capitalization of $329.89 billion, a price-to-earnings ratio of 9.03, a PEG ratio of 2.09 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPMGet 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

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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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Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

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