Pictet Asset Management Ltd. Raises Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Pictet Asset Management Ltd. increased its stake in JPMorgan Chase & Co. (NYSE:JPM) by 3.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,810,629 shares of the financial services provider’s stock after purchasing an additional 63,714 shares during the quarter. Pictet Asset Management Ltd. owned 0.06% of JPMorgan Chase & Co. worth $202,428,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Morse Asset Management Inc boosted its stake in shares of JPMorgan Chase & Co. by 1.5% during the 2nd quarter. Morse Asset Management Inc now owns 5,781 shares of the financial services provider’s stock worth $646,000 after acquiring an additional 86 shares during the last quarter. Harvey Investment Co. LLC boosted its stake in shares of JPMorgan Chase & Co. by 0.4% during the 2nd quarter. Harvey Investment Co. LLC now owns 21,596 shares of the financial services provider’s stock worth $2,414,000 after acquiring an additional 90 shares during the last quarter. CMH Wealth Management LLC boosted its stake in shares of JPMorgan Chase & Co. by 0.4% during the 2nd quarter. CMH Wealth Management LLC now owns 25,978 shares of the financial services provider’s stock worth $2,904,000 after acquiring an additional 95 shares during the last quarter. Comprehensive Portfolio Management LLC boosted its stake in shares of JPMorgan Chase & Co. by 1.3% during the 2nd quarter. Comprehensive Portfolio Management LLC now owns 8,005 shares of the financial services provider’s stock worth $895,000 after acquiring an additional 99 shares during the last quarter. Finally, Navellier & Associates Inc boosted its stake in shares of JPMorgan Chase & Co. by 4.8% during the 2nd quarter. Navellier & Associates Inc now owns 2,181 shares of the financial services provider’s stock worth $244,000 after acquiring an additional 100 shares during the last quarter. Institutional investors own 71.89% of the company’s stock.

In related news, Director Mellody L. Hobson purchased 18,200 shares of JPMorgan Chase & Co. stock in a transaction on Thursday, August 8th. The shares were bought at an average cost of $109.91 per share, for a total transaction of $2,000,362.00. Following the acquisition, the director now owns 7,804 shares in the company, valued at approximately $857,737.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Lori A. Beer sold 13,341 shares of JPMorgan Chase & Co. stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $114.28, for a total transaction of $1,524,609.48. Following the completion of the sale, the insider now owns 10,130 shares in the company, valued at $1,157,656.40. The disclosure for this sale can be found here. Insiders own 0.76% of the company’s stock.

NYSE JPM traded down $0.25 on Monday, reaching $118.65. The company had a trading volume of 316,360 shares, compared to its average volume of 10,786,178. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.22. The stock has a market capitalization of $381.72 billion, a PE ratio of 13.18, a price-to-earnings-growth ratio of 1.73 and a beta of 1.19. The firm’s 50 day moving average price is $111.24 and its 200 day moving average price is $110.21. JPMorgan Chase & Co. has a 12 month low of $91.11 and a 12 month high of $120.40.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $2.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.50 by $0.32. The company had revenue of $28.83 billion for the quarter, compared to the consensus estimate of $28.52 billion. JPMorgan Chase & Co. had a net margin of 24.73% and a return on equity of 14.40%. JPMorgan Chase & Co.’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.29 EPS. On average, research analysts expect that JPMorgan Chase & Co. will post 9.88 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 4th will be issued a $0.90 dividend. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $0.80. This represents a $3.60 dividend on an annualized basis and a yield of 3.03%. JPMorgan Chase & Co.’s payout ratio is currently 35.56%.

A number of research firms recently weighed in on JPM. Morgan Stanley set a $122.00 target price on shares of JPMorgan Chase & Co. and gave the company a “buy” rating in a research note on Friday, August 9th. ValuEngine upgraded shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research note on Wednesday, September 4th. Deutsche Bank restated a “neutral” rating on shares of JPMorgan Chase & Co. in a research note on Friday, June 28th. Royal Bank of Canada restated a “buy” rating and set a $120.00 target price on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 16th. Finally, Goldman Sachs Group restated a “neutral” rating and set a $117.00 target price on shares of JPMorgan Chase & Co. in a research note on Monday, July 22nd. Thirteen analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $121.94.

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

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