JPMorgan Chase & Co. (NYSE:JPM) Position Boosted by Palmer Knight Co

Palmer Knight Co lifted its stake in JPMorgan Chase & Co. (NYSE:JPM) by 0.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 33,736 shares of the financial services provider’s stock after purchasing an additional 127 shares during the quarter. JPMorgan Chase & Co. accounts for 3.6% of Palmer Knight Co’s portfolio, making the stock its 15th largest position. Palmer Knight Co’s holdings in JPMorgan Chase & Co. were worth $8,087,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. International Assets Investment Management LLC purchased a new position in JPMorgan Chase & Co. in the third quarter valued at about $1,888,088,000. Fisher Asset Management LLC grew its stake in shares of JPMorgan Chase & Co. by 31.7% in the 3rd quarter. Fisher Asset Management LLC now owns 16,784,272 shares of the financial services provider’s stock valued at $3,539,132,000 after buying an additional 4,043,841 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in JPMorgan Chase & Co. by 137.8% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,376,176 shares of the financial services provider’s stock worth $922,760,000 after buying an additional 2,535,590 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec raised its position in JPMorgan Chase & Co. by 93.6% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,692,159 shares of the financial services provider’s stock valued at $567,669,000 after acquiring an additional 1,301,764 shares in the last quarter. Finally, Franklin Resources Inc. lifted its stake in JPMorgan Chase & Co. by 7.2% in the third quarter. Franklin Resources Inc. now owns 15,073,193 shares of the financial services provider’s stock valued at $3,338,955,000 after acquiring an additional 1,016,289 shares during the last quarter. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at JPMorgan Chase & Co.

In related news, General Counsel Stacey Friedman sold 3,303 shares of the company’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $253.94, for a total value 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. The trade was a 6.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.79% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

JPM has been the topic of several analyst reports. UBS Group increased their price target on shares of JPMorgan Chase & Co. from $276.00 to $287.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Baird R W downgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 7th. Bank of America boosted their price target on JPMorgan Chase & Co. from $260.00 to $280.00 and gave the stock a “buy” rating in a research report on Tuesday, January 7th. Citigroup upped their price target on JPMorgan Chase & Co. from $215.00 to $250.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Finally, Keefe, Bruyette & Woods raised their price objective on JPMorgan Chase & Co. from $257.00 to $264.00 and gave the company a “market perform” rating in a research note on Thursday, January 16th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $251.78.

JPMorgan Chase & Co. Trading Up 0.9 %

Shares of JPM opened at $270.30 on Thursday. The stock’s 50-day moving average price is $248.62 and its 200 day moving average price is $229.31. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.24. The firm has a market capitalization of $760.99 billion, a price-to-earnings ratio of 13.69, a P/E/G ratio of 2.87 and a beta of 1.12. JPMorgan Chase & Co. has a 12-month low of $172.62 and a 12-month high of $270.82.

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

JPMorgan Chase & Co. Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Monday, January 6th were paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date was Monday, January 6th. JPMorgan Chase & Co.’s dividend payout ratio is 25.33%.

JPMorgan Chase & Co. Profile

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. The firm offers a range of investment banking products and services in all capital markets, including advising on corporate strategy and structure, capital raising in equity and debt markets, risk management, market making in cash securities and derivative instruments, and brokerage and research.