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:JPMGet 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

(Get Rating)

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.

Further Reading

Want to see what other hedge funds are holding JPM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for JPMorgan Chase & Co. (NYSE:JPMGet Rating).

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

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.