Atticus Wealth Management LLC Raises Stake in JPMorgan Chase & Co. (NYSE:JPM)

Atticus Wealth Management LLC lifted its stake in JPMorgan Chase & Co. (NYSE:JPM) by 28.6% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 3,138 shares of the financial services provider’s stock after buying an additional 698 shares during the quarter. Atticus Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $629,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Morgan Stanley lifted its holdings in shares of JPMorgan Chase & Co. by 0.3% in the third quarter. Morgan Stanley now owns 62,941,343 shares of the financial services provider’s stock worth $9,127,754,000 after buying an additional 201,441 shares in the last quarter. Wellington Management Group LLP raised its stake in JPMorgan Chase & Co. by 12.2% during the third quarter. Wellington Management Group LLP now owns 42,421,711 shares of the financial services provider’s stock valued at $6,151,997,000 after purchasing an additional 4,603,090 shares in the last quarter. Capital International Investors raised its stake in JPMorgan Chase & Co. by 5.4% during the fourth quarter. Capital International Investors now owns 41,516,695 shares of the financial services provider’s stock valued at $7,062,094,000 after purchasing an additional 2,128,478 shares in the last quarter. Norges Bank purchased a new stake in JPMorgan Chase & Co. during the fourth quarter valued at $6,016,878,000. Finally, Dimensional Fund Advisors LP raised its stake in JPMorgan Chase & Co. by 3.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 21,338,704 shares of the financial services provider’s stock valued at $3,629,757,000 after purchasing an additional 695,502 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. BMO Capital Markets decreased their price target on shares of JPMorgan Chase & Co. from $196.00 to $195.00 and set a “market perform” rating on the stock in a research note on Monday, April 15th. StockNews.com downgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “sell” rating in a research note on Wednesday, June 19th. Keefe, Bruyette & Woods upped their price target on shares of JPMorgan Chase & Co. from $203.00 to $209.00 and gave the company a “market perform” rating in a research note on Tuesday, May 21st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $211.00 price target on shares of JPMorgan Chase & Co. in a research note on Tuesday, May 21st. Finally, Morgan Stanley cut their price objective on shares of JPMorgan Chase & Co. from $216.00 to $214.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 21st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, JPMorgan Chase & Co. currently has a consensus rating of “Moderate Buy” and an average target price of $194.10.

JPMorgan Chase & Co. Stock Performance

JPM stock opened at $208.83 on Wednesday. The firm has a market cap of $599.69 billion, a price-to-earnings ratio of 12.61, a PEG ratio of 2.72 and a beta of 1.12. The firm has a 50-day simple moving average of $197.23 and a two-hundred day simple moving average of $186.57. JPMorgan Chase & Co. has a one year low of $135.19 and a one year high of $208.86. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.92 and a current ratio of 0.92.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Friday, April 12th. The financial services provider reported $4.63 EPS for the quarter, beating the consensus estimate of $4.18 by $0.45. The business had revenue of $41.93 billion during the quarter, compared to analyst estimates of $40.90 billion. JPMorgan Chase & Co. had a net margin of 20.05% and a return on equity of 17.79%. On average, equities analysts forecast that JPMorgan Chase & Co. will post 16.44 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, July 5th will be given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 2.20%. The ex-dividend date is Friday, July 5th. JPMorgan Chase & Co.’s payout ratio is 27.78%.

Insider Buying and Selling at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 4,415 shares of the stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $200.65, for a total transaction of $885,869.75. Following the completion of the sale, the general counsel now directly owns 42,124 shares of the company’s stock, valued at $8,452,180.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO James Dimon sold 178,222 shares of the stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $184.18, for a total value of $32,824,927.96. Following the completion of the transaction, the chief executive officer now directly owns 264,461 shares of the company’s stock, valued at approximately $48,708,426.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Stacey Friedman sold 4,415 shares of the stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $200.65, for a total transaction of $885,869.75. Following the completion of the transaction, the general counsel now directly owns 42,124 shares of the company’s stock, valued at $8,452,180.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 250,565 shares of company stock valued at $46,962,717. 0.79% of the stock is currently owned by insiders.

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, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.