Geode Capital Management LLC Purchases 300,160 Shares of JPMorgan Chase & Co. $JPM

Geode Capital Management LLC grew its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 61,129,271 shares of the financial services provider’s stock after acquiring an additional 300,160 shares during the quarter. JPMorgan Chase & Co. accounts for 1.2% of Geode Capital Management LLC’s holdings, making the stock its 11th biggest position. Geode Capital Management LLC’s holdings in JPMorgan Chase & Co. were worth $17,646,506,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in JPM. JFS Wealth Advisors LLC grew its position in JPMorgan Chase & Co. by 0.4% in the second quarter. JFS Wealth Advisors LLC now owns 7,897 shares of the financial services provider’s stock valued at $2,290,000 after purchasing an additional 35 shares in the last quarter. Cottonwood Capital Advisors LLC lifted its position in JPMorgan Chase & Co. by 0.9% during the 2nd quarter. Cottonwood Capital Advisors LLC now owns 3,837 shares of the financial services provider’s stock worth $1,112,000 after buying an additional 35 shares in the last quarter. Coign Capital Advisors LLC boosted its stake in shares of JPMorgan Chase & Co. by 1.2% during the 2nd quarter. Coign Capital Advisors LLC now owns 2,854 shares of the financial services provider’s stock worth $827,000 after buying an additional 35 shares during the last quarter. Rialto Wealth Management LLC grew its holdings in shares of JPMorgan Chase & Co. by 3.9% in the 2nd quarter. Rialto Wealth Management LLC now owns 929 shares of the financial services provider’s stock valued at $269,000 after acquiring an additional 35 shares in the last quarter. Finally, LCM Capital Management Inc increased its position in shares of JPMorgan Chase & Co. by 0.9% in the second quarter. LCM Capital Management Inc now owns 3,847 shares of the financial services provider’s stock valued at $1,115,000 after acquiring an additional 36 shares during the last quarter. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

JPM has been the subject of several recent research reports. Daiwa Capital Markets increased their price target on JPMorgan Chase & Co. from $330.00 to $332.00 and gave the company an “outperform” rating in a research report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft increased their price objective on JPMorgan Chase & Co. from $300.00 to $320.00 and gave the company a “hold” rating in a report on Tuesday, September 30th. TD Cowen boosted their target price on shares of JPMorgan Chase & Co. from $350.00 to $370.00 and gave the stock a “buy” rating in a report on Friday, October 3rd. Wolfe Research upped their price target on shares of JPMorgan Chase & Co. from $342.00 to $346.00 and gave the stock an “outperform” rating in a research report on Thursday, October 16th. Finally, Morgan Stanley lifted their price objective on shares of JPMorgan Chase & Co. from $336.00 to $338.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 15th. Fifteen investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $326.38.

Insider Activity

In other JPMorgan Chase & Co. news, insider Robin Leopold sold 966 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the insider directly owned 58,479 shares in the company, valued at $18,240,769.68. This trade represents a 1.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Linda Bammann sold 9,500 shares of the business’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 sale, the director owned 82,207 shares of the company’s stock, valued at approximately $24,492,753.58. This represents a 10.36% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.47% of the stock is owned by corporate insiders.

JPMorgan Chase & Co. Trading Down 0.2%

Shares of JPMorgan Chase & Co. stock opened at $297.82 on Friday. 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 has a fifty day simple moving average of $307.43 and a two-hundred day simple moving average of $291.20. JPMorgan Chase & Co. has a 1 year low of $202.16 and a 1 year high of $322.25. The company has a market capitalization of $810.74 billion, a price-to-earnings ratio of 14.75, a P/E/G ratio of 1.84 and a beta of 1.14.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $5.07 EPS for the quarter, beating the consensus estimate of $4.83 by $0.24. The firm had revenue of $47.12 billion for the quarter, compared to the consensus estimate of $44.42 billion. JPMorgan Chase & Co. had a net margin of 20.90% and a return on equity of 17.18%. The company’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period in the previous year, the company earned $4.37 earnings per share. Research analysts forecast 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 paid a $1.50 dividend. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. The ex-dividend date was Monday, October 6th. This represents a $6.00 dividend on an annualized basis and a yield of 2.0%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 29.72%.

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.