Spinnaker Trust Raises Position in JPMorgan Chase & Co. (NYSE:JPM)

Spinnaker Trust increased its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 3.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 71,592 shares of the financial services provider’s stock after purchasing an additional 2,295 shares during the quarter. Spinnaker Trust’s holdings in JPMorgan Chase & Co. were worth $7,481,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in JPM. Price T Rowe Associates Inc. MD raised its position in JPMorgan Chase & Co. by 23.3% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 31,667,210 shares of the financial services provider’s stock worth $3,566,044,000 after purchasing an additional 5,978,393 shares during the period. Greenhaven Associates Inc. increased its position in shares of JPMorgan Chase & Co. by 600.7% in the second quarter. Greenhaven Associates Inc. now owns 4,533,856 shares of the financial services provider’s stock valued at $510,558,000 after acquiring an additional 3,886,845 shares during the period. Public Investment Fund purchased a new position in shares of JPMorgan Chase & Co. in the second quarter valued at about $433,667,000. Franklin Resources Inc. increased its position in shares of JPMorgan Chase & Co. by 21.1% in the second quarter. Franklin Resources Inc. now owns 19,739,048 shares of the financial services provider’s stock valued at $2,222,815,000 after acquiring an additional 3,435,522 shares during the period. Finally, Renaissance Technologies LLC increased its position in shares of JPMorgan Chase & Co. by 244.8% in the second quarter. Renaissance Technologies LLC now owns 3,931,843 shares of the financial services provider’s stock valued at $442,765,000 after acquiring an additional 2,791,457 shares during the period. Hedge funds and other institutional investors own 67.89% of the company’s stock.

JPMorgan Chase & Co. Stock Up 2.5 %

Shares of JPMorgan Chase & Co. stock opened at $143.01 on Tuesday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.84 and a current ratio of 0.84. The stock has a market capitalization of $419.48 billion, a PE ratio of 11.84, a price-to-earnings-growth ratio of 2.23 and a beta of 1.13. JPMorgan Chase & Co. has a 52-week low of $101.28 and a 52-week high of $161.03. The company has a 50-day simple moving average of $134.29 and a two-hundred day simple moving average of $122.13.

JPMorgan Chase & Co. (NYSE:JPMGet Rating) last issued its earnings results on Friday, January 13th. The financial services provider reported $3.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.14 by $0.43. The business had revenue of $34.55 billion during the quarter, compared to analysts’ expectations of $34.23 billion. JPMorgan Chase & Co. had a net margin of 24.34% and a return on equity of 14.68%. The business’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same period in the previous year, the company earned $3.33 earnings per share. On average, analysts anticipate that JPMorgan Chase & Co. will post 12.81 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 31st. Shareholders of record on Friday, January 6th will be issued a $1.00 dividend. The ex-dividend date of this dividend is Thursday, January 5th. This represents a $4.00 annualized dividend and a yield of 2.80%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 33.11%.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, CEO Douglas B. Petno sold 5,139 shares of JPMorgan Chase & Co. stock in a transaction dated Wednesday, October 26th. The shares were sold at an average price of $125.02, for a total value of $642,477.78. Following the completion of the transaction, the chief executive officer now directly owns 248,011 shares of the company’s stock, valued at $31,006,335.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Douglas B. Petno sold 5,139 shares of the business’s stock in a transaction that occurred on Wednesday, October 26th. The shares were sold at an average price of $125.02, for a total transaction of $642,477.78. Following the completion of the transaction, the chief executive officer now directly owns 248,011 shares of the company’s stock, valued at $31,006,335.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robin Leopold sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 26th. The shares were sold at an average price of $125.07, for a total transaction of $250,140.00. Following the transaction, the insider now directly owns 19,031 shares of the company’s stock, valued at $2,380,207.17. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 8,449 shares of company stock valued at $1,056,394. Insiders own 0.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft cut shares of JPMorgan Chase & Co. from a “buy” rating to a “hold” rating and decreased their price objective for the company from $155.00 to $145.00 in a research report on Friday, January 6th. Oppenheimer decreased their price objective on shares of JPMorgan Chase & Co. from $174.00 to $169.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 28th. Credit Suisse Group set a $150.00 price objective on shares of JPMorgan Chase & Co. in a research report on Friday, January 6th. Citigroup lifted their target price on shares of JPMorgan Chase & Co. from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, December 12th. Finally, StockNews.com initiated coverage on shares of JPMorgan Chase & Co. in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. Seven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, JPMorgan Chase & Co. has an average rating of “Moderate Buy” and an average target price of $145.17.

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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