Naples Global Advisors LLC increased its stake in JPMorgan Chase (NYSE:JPM) by 6.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,708 shares of the financial services provider’s stock after purchasing an additional 750 shares during the period. Naples Global Advisors LLC’s holdings in JPMorgan Chase were worth $1,252,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Kohmann Bosshard Financial Services LLC acquired a new position in shares of JPMorgan Chase during the 3rd quarter worth about $102,000. Welch Investments LLC acquired a new position in shares of JPMorgan Chase during the 3rd quarter worth about $103,000. Legacy Advisors LLC acquired a new position in shares of JPMorgan Chase during the 3rd quarter worth about $106,000. Atlantic Trust LLC acquired a new position in shares of JPMorgan Chase during the 2nd quarter worth about $136,000. Finally, Lipe & Dalton acquired a new position in shares of JPMorgan Chase during the 3rd quarter worth about $143,000. 74.50% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have recently commented on JPM shares. Royal Bank of Canada restated a “buy” rating on shares of JPMorgan Chase in a research note on Friday, December 8th. Wells Fargo set a $120.00 price objective on shares of JPMorgan Chase and gave the stock a “buy” rating in a research note on Wednesday, December 20th. Buckingham Research upgraded shares of JPMorgan Chase from a “neutral” rating to a “buy” rating in a research note on Thursday, December 21st. Barclays increased their price objective on shares of JPMorgan Chase from $105.00 to $132.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 2nd. Finally, Credit Suisse Group upgraded shares of JPMorgan Chase to a “buy” rating and set a $120.00 price objective for the company in a research note on Friday, January 5th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $112.14.
JPMorgan Chase (NYSE:JPM) last issued its earnings results on Friday, January 12th. The financial services provider reported $1.76 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.69 by $0.07. The company had revenue of $24.15 billion for the quarter, compared to analysts’ expectations of $24.87 billion. JPMorgan Chase had a net margin of 21.46% and a return on equity of 11.63%. JPMorgan Chase’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.71 EPS. equities analysts forecast that JPMorgan Chase will post 8.88 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 30th. Shareholders of record on Friday, April 6th will be issued a $0.56 dividend. The ex-dividend date is Thursday, April 5th. This represents a $2.24 annualized dividend and a yield of 2.04%. JPMorgan Chase’s dividend payout ratio is currently 32.61%.
In other JPMorgan Chase news, insider Peter Scher sold 26,532 shares of the stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $113.42, for a total value of $3,009,259.44. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Mary E. Erdoes sold 65,101 shares of the stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $112.25, for a total transaction of $7,307,587.25. Following the completion of the transaction, the chief executive officer now directly owns 479,882 shares in the company, valued at $53,866,754.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 152,047 shares of company stock worth $17,098,115. Insiders own 0.88% of the company’s stock.
WARNING: “JPMorgan Chase (JPM) Shares Bought by Naples Global Advisors LLC” was published by WKRB News and is the property of of WKRB News. If you are reading this report on another publication, it was illegally copied and republished in violation of United States and international copyright and trademark law. The legal version of this report can be viewed at https://www.wkrb13.com/2018/04/02/jpmorgan-chase-jpm-shares-bought-by-naples-global-advisors-llc.html.
About JPMorgan Chase
JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking, and Asset & Wealth Management. The Consumer & Community Banking segment offers deposit and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; residential mortgages and home equity loans; and credit cards, payment processing services, auto loans and leases.
Receive News & Ratings for JPMorgan Chase Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for JPMorgan Chase and related companies with MarketBeat.com's FREE daily email newsletter.