Centre Asset Management LLC Makes New Investment in JPMorgan Chase & Co. (NYSE:JPM)

Centre Asset Management LLC acquired a new position in shares of JPMorgan Chase & Co. (NYSE:JPM) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 22,560 shares of the financial services provider’s stock, valued at approximately $5,534,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in JPM. Norges Bank bought a new stake in JPMorgan Chase & Co. during the 4th quarter worth about $8,310,884,000. Northern Trust Corp raised its holdings in JPMorgan Chase & Co. by 15.4% during the 4th quarter. Northern Trust Corp now owns 33,845,676 shares of the financial services provider’s stock worth $8,113,147,000 after purchasing an additional 4,515,147 shares during the last quarter. Proficio Capital Partners LLC raised its holdings in JPMorgan Chase & Co. by 34,259.3% during the 4th quarter. Proficio Capital Partners LLC now owns 3,499,499 shares of the financial services provider’s stock worth $838,865,000 after purchasing an additional 3,489,314 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in JPMorgan Chase & Co. by 31.4% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 10,684,810 shares of the financial services provider’s stock worth $2,561,256,000 after purchasing an additional 2,551,899 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of JPMorgan Chase & Co. by 16.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 17,550,491 shares of the financial services provider’s stock valued at $4,207,028,000 after acquiring an additional 2,465,572 shares during the last quarter. 71.55% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

JPM has been the subject of a number of recent analyst reports. UBS Group upped their price target on JPMorgan Chase & Co. from $277.00 to $305.00 and gave the company a “buy” rating in a research note on Thursday, April 17th. Morgan Stanley upped their price target on JPMorgan Chase & Co. from $235.00 to $236.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 20th. TD Cowen initiated coverage on JPMorgan Chase & Co. in a research note on Thursday, May 15th. They issued a “buy” rating and a $305.00 price target for the company. TD Securities upped their price target on JPMorgan Chase & Co. from $305.00 to $315.00 and gave the company a “buy” rating in a research note on Tuesday, May 20th. Finally, Baird R W raised JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a research note on Friday, March 7th. Eleven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $266.65.

JPMorgan Chase & Co. Price Performance

NYSE JPM opened at $263.46 on Thursday. The business has a 50 day simple moving average of $245.28 and a 200 day simple moving average of $248.79. JPMorgan Chase & Co. has a 52-week low of $190.88 and a 52-week high of $280.25. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.89 and a current ratio of 0.88. The stock has a market cap of $732.18 billion, a price-to-earnings ratio of 13.35, a PEG ratio of 2.83 and a beta of 1.07.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share for the quarter, topping analysts’ consensus estimates of $4.63 by $0.44. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The firm had revenue of $45.30 billion during the quarter, compared to the consensus estimate of $43.62 billion. During the same quarter in the prior year, the firm posted $4.44 EPS. The business’s revenue was up 8.0% on a year-over-year basis. Analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd will be given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date of this dividend is Thursday, July 3rd. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 27.49%.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, insider Robin Leopold sold 1,250 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $246.92, for a total transaction of $308,650.00. Following the completion of the transaction, the insider now owns 49,127 shares of the company’s stock, valued at $12,130,438.84. This represents a 2.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Stacey Friedman sold 6,608 shares of the company’s stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $265.71, for a total value of $1,755,811.68. Following the transaction, the general counsel now directly owns 36,520 shares of the company’s stock, valued at approximately $9,703,729.20. This trade represents a 15.32% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 95,594 shares of company stock valued at $23,991,061 in the last quarter. 0.47% of the stock is currently owned by insiders.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.