TD Asset Management Inc Grows Position in JPMorgan Chase & Co. $JPM

TD Asset Management Inc lifted its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,113,248 shares of the financial services provider’s stock after purchasing an additional 45,094 shares during the quarter. JPMorgan Chase & Co. comprises approximately 1.3% of TD Asset Management Inc’s investment portfolio, making the stock its 15th biggest position. TD Asset Management Inc owned 0.18% of JPMorgan Chase & Co. worth $1,482,382,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. MJT & Associates Financial Advisory Group Inc. acquired a new position in JPMorgan Chase & Co. during the 1st quarter worth about $28,000. University of Illinois Foundation acquired a new position in JPMorgan Chase & Co. during the 1st quarter worth about $30,000. Ryan Investment Management Inc. acquired a new position in JPMorgan Chase & Co. during the 2nd quarter worth about $37,000. Christopher J. Hasenberg Inc lifted its stake in JPMorgan Chase & Co. by 212.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 106 shares in the last quarter. Finally, Goodman Advisory Group LLC acquired a new position in JPMorgan Chase & Co. during the 1st quarter worth about $76,000. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Stock Performance

Shares of JPM opened at $300.27 on Friday. The stock has a 50 day moving average price of $303.43 and a 200 day moving average price of $281.11. The company has a quick ratio of 0.88, a current ratio of 0.86 and a debt-to-equity ratio of 1.26. The company has a market capitalization of $825.66 billion, a price-to-earnings ratio of 14.87, a price-to-earnings-growth ratio of 1.77 and a beta of 1.13. JPMorgan Chase & Co. has a 52-week low of $202.16 and a 52-week high of $318.01.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.83 by $0.24. The firm had revenue of $46.43 billion during the quarter, compared to the consensus estimate of $44.42 billion. JPMorgan Chase & Co. had a return on equity of 17.18% and a net margin of 20.90%.The firm’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same period in the prior year, the company posted $4.37 earnings per share. Research analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, October 6th will be issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 2.0%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Monday, October 6th. JPMorgan Chase & Co.’s dividend payout ratio is currently 29.72%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on JPM. UBS Group increased their target price on JPMorgan Chase & Co. from $339.00 to $350.00 and gave the stock a “buy” rating in a research note on Tuesday, October 7th. Phillip Securities lowered JPMorgan Chase & Co. from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, July 16th. Royal Bank Of Canada reissued a “buy” rating and set a $343.00 target price on shares of JPMorgan Chase & Co. in a research note on Tuesday, October 14th. Wolfe Research increased their target price on JPMorgan Chase & Co. from $342.00 to $346.00 and gave the stock an “outperform” rating in a research note on Thursday, October 16th. Finally, Weiss Ratings reaffirmed a “buy (b+)” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $322.27.

Insider Transactions at JPMorgan Chase & Co.

In related news, Director Linda Bammann sold 9,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $297.94, for a total value of $2,830,430.00. Following the completion of the transaction, the director directly owned 82,207 shares of the company’s stock, valued at $24,492,753.58. This represents a 10.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.47% of the stock is owned by company insiders.

JPMorgan Chase & Co. Company 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.