Rockland Trust Co. Grows Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Rockland Trust Co. raised its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 8.5% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 171,127 shares of the financial services provider’s stock after purchasing an additional 13,472 shares during the period. JPMorgan Chase & Co. makes up approximately 1.3% of Rockland Trust Co.’s holdings, making the stock its 19th largest holding. Rockland Trust Co.’s holdings in JPMorgan Chase & Co. were worth $19,271,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in JPM. Norges Bank purchased a new position in shares of JPMorgan Chase & Co. in the fourth quarter worth about $4,092,843,000. Vanguard Group Inc. increased its holdings in shares of JPMorgan Chase & Co. by 2.6% in the first quarter. Vanguard Group Inc. now owns 266,854,574 shares of the financial services provider’s stock worth $36,377,615,000 after buying an additional 6,792,220 shares during the period. GQG Partners LLC increased its holdings in shares of JPMorgan Chase & Co. by 403.3% in 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 during the period. Arrowstreet Capital Limited Partnership increased its holdings in shares of JPMorgan Chase & Co. by 7,427.6% in the first quarter. Arrowstreet Capital Limited Partnership now owns 2,664,092 shares of the financial services provider’s stock worth $363,169,000 after buying an additional 2,628,701 shares during the period. Finally, State Street Corp increased its holdings in shares of JPMorgan Chase & Co. by 1.6% in 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 during the period. Hedge funds and other institutional investors own 68.57% of the company’s stock.

JPMorgan Chase & Co. Price Performance

Shares of JPM opened at $111.21 on Friday. The firm has a market cap of $326.13 billion, a PE ratio of 8.93, a P/E/G ratio of 2.04 and a beta of 1.10. 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 firm has a fifty day simple moving average of $116.09 and a two-hundred day simple moving average of $122.16. JPMorgan Chase & Co. has a 1-year low of $106.06 and a 1-year high of $172.96.

JPMorgan Chase & Co. (NYSE:JPMGet Rating) last posted its quarterly earnings data on Thursday, July 14th. The financial services provider reported $2.76 EPS for the quarter, missing the consensus estimate of $2.85 by ($0.09). The company had revenue of $30.72 billion during the quarter, compared to analysts’ expectations of $31.82 billion. JPMorgan Chase & Co. had a return on equity of 15.29% and a net margin of 30.41%. The company’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter last year, the company earned $3.78 earnings per share. On average, equities analysts anticipate that JPMorgan Chase & Co. will post 11.33 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Thursday, October 6th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $4.00 annualized dividend and a dividend yield of 3.60%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 32.10%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Jefferies Financial Group set a $117.00 price target on JPMorgan Chase & Co. in a report on Monday, September 12th. Morgan Stanley dropped their price target on JPMorgan Chase & Co. from $149.00 to $127.00 and set an “underweight” rating on the stock in a research report on Tuesday, July 12th. Citigroup raised JPMorgan Chase & Co. from a “neutral” rating to a “buy” rating and dropped their price target for the stock from $145.00 to $135.00 in a research report on Tuesday, July 12th. UBS Group dropped their price target on JPMorgan Chase & Co. from $134.00 to $126.00 and set a “buy” rating on the stock in a research report on Friday, July 15th. Finally, Berenberg Bank raised JPMorgan Chase & Co. from a “sell” rating to a “hold” rating and set a $120.00 price target on the stock in a research report on Monday, July 18th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, JPMorgan Chase & Co. currently has a consensus rating of “Hold” and a consensus target price of $145.95.

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.

See Also

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

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