Private Management Group Inc. Raises Stock Position in JPMorgan Chase & Co. $JPM

Private Management Group Inc. grew its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 35.6% during the 2nd quarter, Holdings Channel.com reports. The fund owned 129,622 shares of the financial services provider’s stock after acquiring an additional 34,022 shares during the period. JPMorgan Chase & Co. accounts for about 1.2% of Private Management Group Inc.’s portfolio, making the stock its 15th largest position. Private Management Group Inc.’s holdings in JPMorgan Chase & Co. were worth $37,579,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in JPM. AGP Franklin LLC raised its stake in JPMorgan Chase & Co. by 1.3% during the 2nd quarter. AGP Franklin LLC now owns 22,882 shares of the financial services provider’s stock valued at $6,634,000 after purchasing an additional 293 shares during the period. Riverstone Advisors LLC grew its holdings in JPMorgan Chase & Co. by 5.4% during the 2nd quarter. Riverstone Advisors LLC now owns 1,981 shares of the financial services provider’s stock valued at $574,000 after buying an additional 102 shares in the last quarter. Cowa LLC raised its position in shares of JPMorgan Chase & Co. by 34.6% during the second quarter. Cowa LLC now owns 2,702 shares of the financial services provider’s stock valued at $783,000 after buying an additional 694 shares during the last quarter. Meridian Wealth Advisors LLC lifted its holdings in shares of JPMorgan Chase & Co. by 1.0% in the second quarter. Meridian Wealth Advisors LLC now owns 57,763 shares of the financial services provider’s stock worth $16,746,000 after buying an additional 574 shares in the last quarter. Finally, WealthBridge Capital Management LLC boosted its position in shares of JPMorgan Chase & Co. by 5.6% during the second quarter. WealthBridge Capital Management LLC now owns 10,795 shares of the financial services provider’s stock worth $3,130,000 after acquiring an additional 573 shares during the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Trading Up 1.8%

Shares of NYSE JPM opened at $313.26 on Friday. JPMorgan Chase & Co. has a 1-year low of $202.16 and a 1-year high of $322.25. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.86 and a quick ratio of 0.88. The business’s 50 day moving average is $306.89 and its two-hundred day moving average is $293.25. The stock has a market capitalization of $852.78 billion, a P/E ratio of 15.52, a PEG ratio of 1.84 and a beta of 1.14.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.83 by $0.24. The business had revenue of $47.12 billion during the quarter, compared to analyst estimates of $44.42 billion. JPMorgan Chase & Co. had a return on equity of 17.18% and a net margin of 20.90%.The company’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same period last year, the company earned $4.37 EPS. As a group, research analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Monday, October 6th were given a $1.50 dividend. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. This represents a $6.00 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date was Monday, October 6th. JPMorgan Chase & Co.’s dividend payout ratio is 29.72%.

Analyst Ratings Changes

A number of analysts have issued reports on JPM shares. KGI Securities lifted their price target on shares of JPMorgan Chase & Co. from $300.00 to $315.00 and gave the company a “hold” rating in a report on Wednesday, October 15th. DZ Bank reaffirmed a “neutral” rating on shares of JPMorgan Chase & Co. in a report on Wednesday, October 15th. Citigroup increased their price target on JPMorgan Chase & Co. from $275.00 to $325.00 and gave the company a “neutral” rating in a research note on Wednesday, September 24th. Morgan Stanley raised their price target on JPMorgan Chase & Co. from $336.00 to $338.00 and gave the company an “equal weight” rating in a report on Wednesday, October 15th. Finally, Loop Capital set a $310.00 price objective on JPMorgan Chase & Co. in a report on Thursday, October 23rd. Fifteen investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, JPMorgan Chase & Co. has a consensus rating of “Hold” and an average price target of $326.38.

Insider Buying and Selling at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, insider Robin Leopold sold 966 shares of the business’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $311.92, for a total transaction of $301,314.72. Following the transaction, the insider owned 58,479 shares in the company, valued at $18,240,769.68. The trade was a 1.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Linda Bammann sold 9,500 shares of the stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the completion of the sale, the director directly owned 82,207 shares in the company, valued at approximately $24,492,753.58. This represents a 10.36% decrease in their position. The SEC filing for this sale provides additional information. 0.47% of the stock is owned by insiders.

JPMorgan Chase & Co. Profile

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.