Davis Rea LTD. Grows Holdings in JPMorgan Chase & Co. (JPM)

Davis Rea LTD. grew its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 25.8% during the second quarter, HoldingsChannel reports. The firm owned 57,017 shares of the financial services provider’s stock after acquiring an additional 11,688 shares during the quarter. JPMorgan Chase & Co. makes up approximately 3.9% of Davis Rea LTD.’s portfolio, making the stock its 9th biggest holding. Davis Rea LTD.’s holdings in JPMorgan Chase & Co. were worth $5,941,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in JPM. Summit Trail Advisors LLC lifted its stake in JPMorgan Chase & Co. by 10,129.2% during the first quarter. Summit Trail Advisors LLC now owns 6,914,142 shares of the financial services provider’s stock worth $6,914,000 after purchasing an additional 6,846,550 shares in the last quarter. OppenheimerFunds Inc. raised its stake in shares of JPMorgan Chase & Co. by 104.9% in the first quarter. OppenheimerFunds Inc. now owns 9,051,033 shares of the financial services provider’s stock valued at $995,342,000 after acquiring an additional 4,634,515 shares in the last quarter. OMERS ADMINISTRATION Corp raised its stake in shares of JPMorgan Chase & Co. by 108.1% in the first quarter. OMERS ADMINISTRATION Corp now owns 3,835,312 shares of the financial services provider’s stock valued at $421,769,000 after acquiring an additional 1,992,507 shares in the last quarter. Cornerstone Wealth Management LLC raised its stake in shares of JPMorgan Chase & Co. by 10,829.7% in the second quarter. Cornerstone Wealth Management LLC now owns 1,979,921 shares of the financial services provider’s stock valued at $18,842,000 after acquiring an additional 1,961,806 shares in the last quarter. Finally, Rockefeller Capital Management L.P. acquired a new stake in shares of JPMorgan Chase & Co. in the first quarter valued at $181,162,000. Institutional investors own 70.43% of the company’s stock.

Several analysts have recently issued reports on the company. Royal Bank of Canada reiterated a “buy” rating and issued a $120.00 price objective on shares of JPMorgan Chase & Co. in a research note on Monday, July 16th. Goldman Sachs Group set a $128.00 price objective on JPMorgan Chase & Co. and gave the company a “neutral” rating in a research note on Monday, July 23rd. Societe Generale reiterated a “neutral” rating and issued a $119.50 price objective on shares of JPMorgan Chase & Co. in a research note on Monday, July 16th. Citigroup increased their price objective on JPMorgan Chase & Co. from $115.00 to $125.00 and gave the company a “neutral” rating in a research note on Wednesday, September 26th. Finally, Keefe, Bruyette & Woods reiterated a “$111.53” rating and issued a $127.00 price objective on shares of JPMorgan Chase & Co. in a research note on Wednesday, July 18th. Eight investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $123.44.

NYSE:JPM opened at $111.29 on Friday. The firm has a market capitalization of $376.14 billion, a P/E ratio of 16.20, a price-to-earnings-growth ratio of 1.77 and a beta of 1.13. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.01 and a current ratio of 1.01. JPMorgan Chase & Co. has a 12 month low of $95.95 and a 12 month high of $119.33.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Friday, October 12th. The financial services provider reported $2.34 EPS for the quarter, beating the consensus estimate of $2.24 by $0.10. The firm had revenue of $27.26 billion for the quarter, compared to analyst estimates of $27.20 billion. JPMorgan Chase & Co. had a return on equity of 13.90% and a net margin of 23.39%. During the same quarter in the prior year, the company posted $1.76 earnings per share. Analysts predict that JPMorgan Chase & Co. will post 9.26 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 31st. Investors of record on Friday, October 5th were issued a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 2.88%. The ex-dividend date was Thursday, October 4th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $0.56. JPMorgan Chase & Co.’s dividend payout ratio is 46.58%.

In other JPMorgan Chase & Co. news, Director Mellody L. Hobson bought 1,150 shares of the company’s stock in a transaction that occurred on Friday, October 19th. The shares were purchased at an average price of $108.94 per share, with a total value of $125,281.00. Following the completion of the acquisition, the director now directly owns 2,632 shares of the company’s stock, valued at approximately $286,730.08. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.73% of the company’s stock.

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JPMorgan Chase & Co. Profile

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.

See Also: Fiduciary

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Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

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