Corundum Group Inc. Grows Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Corundum Group Inc. grew its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 31.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,323 shares of the financial services provider’s stock after buying an additional 3,190 shares during the period. JPMorgan Chase & Co. accounts for 1.2% of Corundum Group Inc.’s investment portfolio, making the stock its 19th largest position. Corundum Group Inc.’s holdings in JPMorgan Chase & Co. were worth $3,194,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Mizuho Securities Co. Ltd. bought a new position in shares of JPMorgan Chase & Co. in the third quarter worth $25,000. Catalyst Capital Advisors LLC purchased a new position in JPMorgan Chase & Co. during the 3rd quarter valued at about $27,000. West Financial Advisors LLC bought a new stake in shares of JPMorgan Chase & Co. during the third quarter valued at about $37,000. New England Capital Financial Advisors LLC lifted its holdings in shares of JPMorgan Chase & Co. by 38.5% in the third quarter. New England Capital Financial Advisors LLC now owns 180 shares of the financial services provider’s stock worth $38,000 after buying an additional 50 shares in the last quarter. Finally, Carolina Wealth Advisors LLC boosted its position in shares of JPMorgan Chase & Co. by 36.0% in the third quarter. Carolina Wealth Advisors LLC now owns 189 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 50 shares during the period. Institutional investors own 71.55% of the company’s stock.

Insider Activity

In other news, General Counsel Stacey Friedman sold 3,303 shares of the firm’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $253.94, for a total transaction of $838,763.82. Following the sale, the general counsel now owns 47,620 shares of the company’s stock, valued at $12,092,622.80. This trade represents a 6.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.79% of the company’s stock.

Analyst Ratings Changes

JPM has been the topic of several recent analyst reports. Evercore ISI increased their target price on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Oppenheimer downgraded JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 20th. Citigroup boosted their target price on JPMorgan Chase & Co. from $215.00 to $250.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. Robert W. Baird cut JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 price target on the stock. in a report on Thursday, November 7th. Finally, Bank of America boosted their price objective on JPMorgan Chase & Co. from $260.00 to $280.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, JPMorgan Chase & Co. has a consensus rating of “Hold” and a consensus target price of $251.78.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock opened at $265.61 on Friday. The firm has a market capitalization of $747.79 billion, a price-to-earnings ratio of 13.46, a PEG ratio of 2.83 and a beta of 1.11. The stock has a fifty day moving average of $244.81 and a 200 day moving average of $225.56. JPMorgan Chase & Co. has a 52 week low of $168.86 and a 52 week high of $266.86. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.24.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share for the quarter, beating analysts’ consensus estimates of $4.03 by $0.78. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The firm had revenue of $42.77 billion for the quarter, compared to analyst estimates of $41.90 billion. During the same quarter in the previous year, the firm posted $3.04 EPS. The company’s revenue for the quarter was up 10.9% compared to the same quarter last year. As a group, research analysts expect that JPMorgan Chase & Co. will post 17.82 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, January 6th will be given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date is Monday, January 6th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 25.33%.

About JPMorgan Chase & Co.

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.