Westwood Holdings Group Inc. Has $166.38 Million Stock Position in JPMorgan Chase & Co. (NYSE:JPM)
Westwood Holdings Group Inc. lessened its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 19.7% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 1,488,246 shares of the financial services provider’s stock after selling 365,449 shares during the period. JPMorgan Chase & Co. makes up about 1.8% of Westwood Holdings Group Inc.’s holdings, making the stock its 4th largest holding. Westwood Holdings Group Inc.’s holdings in JPMorgan Chase & Co. were worth $166,384,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Morgan Stanley raised its holdings in JPMorgan Chase & Co. by 5.8% in the 2nd quarter. Morgan Stanley now owns 35,662,949 shares of the financial services provider’s stock valued at $3,987,118,000 after acquiring an additional 1,952,873 shares in the last quarter. Invesco Ltd. raised its holdings in JPMorgan Chase & Co. by 39.8% in the 2nd quarter. Invesco Ltd. now owns 23,689,706 shares of the financial services provider’s stock valued at $2,648,509,000 after acquiring an additional 6,745,215 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in JPMorgan Chase & Co. by 1.9% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 15,021,076 shares of the financial services provider’s stock valued at $1,679,357,000 after acquiring an additional 275,854 shares in the last quarter. Parametric Portfolio Associates LLC raised its holdings in JPMorgan Chase & Co. by 2.5% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 11,155,325 shares of the financial services provider’s stock valued at $1,247,165,000 after acquiring an additional 272,685 shares in the last quarter. Finally, APG Asset Management N.V. raised its holdings in JPMorgan Chase & Co. by 5.0% in the 2nd quarter. APG Asset Management N.V. now owns 8,002,662 shares of the financial services provider’s stock valued at $785,649,000 after acquiring an additional 384,282 shares in the last quarter. Institutional investors own 71.89% of the company’s stock.
In other news, EVP Peter Scher sold 10,816 shares of the stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $115.00, for a total value of $1,243,840.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mellody L. Hobson bought 18,200 shares of the company’s stock in a transaction dated Thursday, August 8th. The stock was bought at an average cost of $109.91 per share, with a total value of $2,000,362.00. Following the completion of the acquisition, the director now owns 7,804 shares in the company, valued at approximately $857,737.64. The disclosure for this purchase can be found here. Corporate insiders own 0.76% of the company’s stock.
Shares of JPM traded up $0.34 during mid-day trading on Friday, reaching $119.72. The company had a trading volume of 9,927,547 shares, compared to its average volume of 10,653,990. JPMorgan Chase & Co. has a twelve month low of $91.11 and a twelve month high of $120.40. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.97 and a quick ratio of 0.97. The company’s 50-day moving average is $111.17 and its 200-day moving average is $110.13. The company has a market capitalization of $379.13 billion, a P/E ratio of 13.30, a P/E/G ratio of 1.71 and a beta of 1.19.
JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Tuesday, July 16th. The financial services provider reported $2.82 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.50 by $0.32. JPMorgan Chase & Co. had a return on equity of 14.40% and a net margin of 24.73%. The business had revenue of $28.83 billion during the quarter, compared to analysts’ expectations of $28.52 billion. During the same period in the prior year, the firm posted $2.29 EPS. JPMorgan Chase & Co.’s quarterly revenue was up 3.9% compared to the same quarter last year. As a group, equities analysts expect that JPMorgan Chase & Co. will post 9.88 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be issued a $0.90 dividend. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $0.80. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.01%. JPMorgan Chase & Co.’s dividend payout ratio is presently 35.56%.
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 and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit card, payment processing, auto loan, and leasing services.
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