Oppenheimer Asset Management Inc. Buys 59,178 Shares of JPMorgan Chase & Co. (NYSE:JPM)

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Oppenheimer Asset Management Inc. lifted its stake in JPMorgan Chase & Co. (NYSE:JPM) by 9.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 692,807 shares of the financial services provider’s stock after acquiring an additional 59,178 shares during the quarter. JPMorgan Chase & Co. makes up approximately 1.5% of Oppenheimer Asset Management Inc.’s investment portfolio, making the stock its 3rd largest position. Oppenheimer Asset Management Inc.’s holdings in JPMorgan Chase & Co. were worth $62,371,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. NWK Group Inc. acquired a new position in JPMorgan Chase & Co. during the fourth quarter worth approximately $39,000. Lloyd Advisory Services LLC. acquired a new position in JPMorgan Chase & Co. during the fourth quarter worth approximately $45,000. Sailer Financial LLC acquired a new position in JPMorgan Chase & Co. during the fourth quarter worth approximately $50,000. Permanens Capital L.P. acquired a new position in JPMorgan Chase & Co. during the fourth quarter worth approximately $50,000. Finally, Lion Street Advisors LLC acquired a new position in JPMorgan Chase & Co. during the first quarter worth approximately $37,000. 73.01% of the stock is currently owned by institutional investors and hedge funds.

Shares of JPM stock opened at $89.47 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.29. The stock has a market cap of $274.75 billion, a P/E ratio of 10.46, a price-to-earnings-growth ratio of 3.51 and a beta of 1.20. The stock has a 50 day simple moving average of $91.61 and a 200 day simple moving average of $118.08. JPMorgan Chase & Co. has a 1 year low of $76.91 and a 1 year high of $141.10.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Tuesday, April 14th. The financial services provider reported $0.78 earnings per share for the quarter, missing the consensus estimate of $2.70 by ($1.92). JPMorgan Chase & Co. had a return on equity of 12.52% and a net margin of 21.61%. The business had revenue of $28.25 billion for the quarter, compared to the consensus estimate of $29.45 billion. During the same quarter in the previous year, the company earned $2.65 earnings per share. The firm’s revenue for the quarter was down 3.0% on a year-over-year basis. Analysts forecast that JPMorgan Chase & Co. will post 5.13 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 6th will be paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 4.02%. The ex-dividend date is Thursday, July 2nd. JPMorgan Chase & Co.’s payout ratio is presently 34.35%.

In other JPMorgan Chase & Co. news, Director Stephen B. Burke bought 75,000 shares of the business’s stock in a transaction on Thursday, April 16th. The stock was purchased at an average cost of $87.99 per share, for a total transaction of $6,599,250.00. Following the completion of the purchase, the director now directly owns 150,043 shares of the company’s stock, valued at $13,202,283.57. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, insider Ashley Bacon sold 13,027 shares of the company’s stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $91.12, for a total value of $1,187,020.24. Following the sale, the insider now owns 137,243 shares of the company’s stock, valued at $12,505,582.16. The disclosure for this sale can be found here. 0.78% of the stock is owned by corporate insiders.

JPM has been the topic of a number of recent analyst reports. BMO Capital Markets lowered their price target on JPMorgan Chase & Co. from $117.00 to $101.00 and set a “market perform” rating on the stock in a research report on Wednesday, April 15th. Citigroup decreased their target price on JPMorgan Chase & Co. from $125.00 to $115.00 and set a “neutral” rating on the stock in a research report on Friday, March 27th. DA Davidson upped their target price on JPMorgan Chase & Co. from $91.00 to $97.00 and gave the company a “neutral” rating in a research report on Wednesday, April 15th. UBS Group upped their target price on JPMorgan Chase & Co. from $82.00 to $96.00 and gave the company a “neutral” rating in a research report on Monday, May 4th. Finally, Societe Generale raised JPMorgan Chase & Co. from a “sell” rating to a “buy” rating in a research report on Tuesday, April 14th. Ten research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $109.75.

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

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