Harel Insurance Investments & Financial Services Ltd. lifted its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 89.1% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 541,316 shares of the financial services provider’s stock after acquiring an additional 255,074 shares during the period. JPMorgan Chase & Co. accounts for about 1.8% of Harel Insurance Investments & Financial Services Ltd.’s portfolio, making the stock its 21st largest position. Harel Insurance Investments & Financial Services Ltd.’s holdings in JPMorgan Chase & Co. were worth $52,112,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently added to or reduced their stakes in the stock. NuWave Investment Management LLC acquired a new position in JPMorgan Chase & Co. during the second quarter worth $30,000. Laidlaw Wealth Management LLC raised its holdings in JPMorgan Chase & Co. by 20,306.8% during the second quarter. Laidlaw Wealth Management LLC now owns 2,810,830 shares of the financial services provider’s stock worth $30,000 after buying an additional 2,797,056 shares during the last quarter. Provident Wealth Management LLC acquired a new position in JPMorgan Chase & Co. during the third quarter worth $34,000. FAI Wealth Management raised its holdings in JPMorgan Chase & Co. by 317.0% during the second quarter. FAI Wealth Management now owns 417 shares of the financial services provider’s stock worth $39,000 after buying an additional 317 shares during the last quarter. Finally, Bay Harbor Wealth Management LLC raised its holdings in JPMorgan Chase & Co. by 18.3% during the second quarter. Bay Harbor Wealth Management LLC now owns 692 shares of the financial services provider’s stock worth $65,000 after buying an additional 107 shares during the last quarter. Institutional investors own 69.35% of the company’s stock.
JPM has been the topic of several research reports. TheStreet upgraded shares of JPMorgan Chase & Co. from a “c” rating to a “b-” rating in a report on Tuesday, August 4th. Goldman Sachs Group upgraded shares of JPMorgan Chase & Co. from a “neutral” rating to a “buy” rating in a report on Friday, July 24th. BMO Capital Markets increased their target price on shares of JPMorgan Chase & Co. from $117.00 to $119.00 and gave the company a “market perform” rating in a report on Wednesday, October 14th. Oppenheimer reiterated a “hold” rating on shares of JPMorgan Chase & Co. in a report on Tuesday, July 14th. Finally, Berenberg Bank increased their target price on shares of JPMorgan Chase & Co. from $77.00 to $80.00 and gave the company a “sell” rating in a report on Monday, July 20th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seventeen have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $111.59.
JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Monday, October 19th. The financial services provider reported $2.92 earnings per share for the quarter, topping analysts’ consensus estimates of $2.23 by $0.69. The firm had revenue of $29.90 billion during the quarter, compared to analyst estimates of $28.20 billion. JPMorgan Chase & Co. had a net margin of 19.16% and a return on equity of 10.85%. The company’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter last year, the business earned $2.68 earnings per share. Analysts anticipate that JPMorgan Chase & Co. will post 7.45 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Saturday, October 31st. Stockholders of record on Tuesday, October 6th will be issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date is Monday, October 5th. JPMorgan Chase & Co.’s payout ratio is 34.35%.
JPMorgan Chase & Co. Company Profile
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 deposit and investment products 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, payment processing, auto loan, and leasing services.
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