23,276 Shares in JPMorgan Chase & Co. (NYSE:JPM) Acquired by Hightower 6M Holding LLC

Hightower 6M Holding LLC purchased a new position in shares of JPMorgan Chase & Co. (NYSE:JPM) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 23,276 shares of the financial services provider’s stock, valued at approximately $2,432,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Morris Financial Concepts Inc. raised its stake in JPMorgan Chase & Co. by 5.3% during the 3rd quarter. Morris Financial Concepts Inc. now owns 10,468 shares of the financial services provider’s stock worth $1,094,000 after buying an additional 526 shares during the period. Texas Permanent School Fund raised its stake in shares of JPMorgan Chase & Co. by 6.9% in the third quarter. Texas Permanent School Fund now owns 414,596 shares of the financial services provider’s stock worth $43,325,000 after purchasing an additional 26,654 shares during the last quarter. First Merchants Corp raised its stake in shares of JPMorgan Chase & Co. by 3.1% in the third quarter. First Merchants Corp now owns 59,372 shares of the financial services provider’s stock worth $6,205,000 after purchasing an additional 1,792 shares during the last quarter. Diversified LLC raised its stake in shares of JPMorgan Chase & Co. by 35.2% in the third quarter. Diversified LLC now owns 7,344 shares of the financial services provider’s stock worth $767,000 after purchasing an additional 1,912 shares during the last quarter. Finally, Mendel Capital Management LLC raised its stake in shares of JPMorgan Chase & Co. by 3.6% in the third quarter. Mendel Capital Management LLC now owns 9,327 shares of the financial services provider’s stock worth $975,000 after purchasing an additional 323 shares during the last quarter. 67.89% of the stock is owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Price Performance

Shares of NYSE JPM opened at $137.37 on Tuesday. The stock has a fifty day simple moving average of $133.10 and a two-hundred day simple moving average of $121.24. JPMorgan Chase & Co. has a 1-year low of $101.28 and a 1-year high of $169.81. The firm has a market cap of $402.93 billion, a price-to-earnings ratio of 11.60, a price-to-earnings-growth ratio of 2.16 and a beta of 1.13. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.13.

JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last posted its earnings results on Friday, October 14th. The financial services provider reported $3.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.96 by $0.16. The firm had revenue of $32.72 billion for the quarter, compared to the consensus estimate of $31.88 billion. JPMorgan Chase & Co. had a return on equity of 14.52% and a net margin of 26.85%. The business’s quarterly revenue was up 10.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.74 earnings per share. Analysts anticipate that JPMorgan Chase & Co. will post 11.69 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 31st. Shareholders of record on Friday, January 6th will be given a dividend of $1.00 per share. The ex-dividend date is Thursday, January 5th. This represents a $4.00 annualized dividend and a dividend yield of 2.91%. JPMorgan Chase & Co.’s dividend payout ratio is currently 33.78%.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, insider Robin Leopold sold 2,000 shares of the stock in a transaction on Wednesday, October 26th. The stock was sold at an average price of $125.07, for a total transaction of $250,140.00. Following the sale, the insider now owns 19,031 shares in the company, valued at $2,380,207.17. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Douglas B. Petno sold 5,139 shares of the stock in a transaction on Wednesday, October 26th. The stock was sold at an average price of $125.02, for a total value of $642,477.78. Following the sale, the chief executive officer now owns 248,011 shares in the company, valued at $31,006,335.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Robin Leopold sold 2,000 shares of the stock in a transaction on Wednesday, October 26th. The stock was sold at an average price of $125.07, for a total value of $250,140.00. Following the completion of the sale, the insider now owns 19,031 shares in the company, valued at approximately $2,380,207.17. The disclosure for this sale can be found here. Insiders have sold a total of 41,964 shares of company stock worth $4,936,426 over the last 90 days. Corporate insiders own 0.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on JPM shares. Oppenheimer lowered their price objective on JPMorgan Chase & Co. from $174.00 to $169.00 and set an “outperform” rating for the company in a research note on Wednesday, December 28th. BMO Capital Markets increased their price objective on JPMorgan Chase & Co. from $149.00 to $158.00 and gave the stock a “market perform” rating in a research note on Monday, October 17th. The Goldman Sachs Group lowered their price objective on JPMorgan Chase & Co. from $133.00 to $130.00 and set a “buy” rating for the company in a research note on Tuesday, October 4th. Morgan Stanley raised JPMorgan Chase & Co. from an “underweight” rating to an “overweight” rating and upped their target price for the company from $126.00 to $153.00 in a report on Tuesday, December 6th. Finally, Jefferies Financial Group set a $117.00 target price on JPMorgan Chase & Co. in a report on Monday, September 12th. Seven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $143.39.

JPMorgan Chase & Co. 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.