Griffin Asset Management Inc. owns $9.54 million stake in JPMorgan Chase & Co. (NYSE:JPM)


Griffin Asset Management Inc. increased its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 4.0% in the first quarter, Holdings Channel reports. The company held 69,942 shares of the financial services provider after purchasing an additional 2,687 shares during the quarter. JPMorgan Chase & Co. accounts for about 1.2% of Griffin Asset Management Inc.’s holdings, making the stock its 19th largest holding. Griffin Asset Management Inc.’s holdings in JPMorgan Chase & Co. were worth $9,535,000 at the end of the most recent period.

Several other institutional investors have also recently changed their positions in the stock. Lowe Wealth Advisors LLC increased its holdings in JPMorgan Chase & Co. by 230.0% during the fourth quarter. Lowe Wealth Advisors LLC now owns 165 shares of the financial services provider worth $26,000 after acquiring 115 additional shares in the last quarter. MFA Wealth Advisors LLC bought a new position in JPMorgan Chase & Co. during the third quarter worth approximately $32,000. Carolina Wealth Advisors LLC increased its holdings in JPMorgan Chase & Co. by 176.5% during the fourth quarter. Carolina Wealth Advisors LLC now owns 235 shares of the financial services provider worth $37,000 after acquiring 150 additional shares in the last quarter. Evolution Advisers Inc. bought a new position in JPMorgan Chase & Co. during the fourth quarter worth approximately $52,000. Finally, Leverty Financial Group LLC bought a new position in JPMorgan Chase & Co. during the fourth quarter worth approximately $54,000. 70.35% of the shares are held by institutional investors and hedge funds.

In other news, insider Ashley Bacon sold 21,012 shares of the company in a trade that took place on Tuesday, April 19. The stock was sold at an average price of $130.04, for a total value of $2,732,400.48. Following the transaction, the insider now owns 178,588 shares of the company, valued at $23,223,583.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. Additionally, CEO Jennifer Piepszak sold 4,668 shares of the company in a trade that took place on Thursday, April 14. The shares were sold at an average price of $126.19, for a total value of $589,054.92. Following completion of the transaction, the CEO now directly owns 11,135 shares of the company, valued at approximately $1,405,125.65. The disclosure of this sale can be found here. 0.79% of the shares are held by insiders.

Shares of NYSE JPM opened at $117.32 on Friday. The company’s 50-day moving average price is $122.94 and its two-hundred-day moving average price is $139.17. The company has a market capitalization of $344.57 billion, a PE ratio of 8.70, a growth price-earnings ratio of 2.05 and a beta of 1.11. The company has a quick ratio of 0.82, a current ratio of 0.82 and a leverage ratio of 1.16. JPMorgan Chase & Co. has a 12-month low of $111.48 and a 12-month high of $172.96.

JPMorgan Chase & Co. (NYSE: JPM – Get Rating) last reported quarterly results on Wednesday, April 13. The financial services provider reported earnings per share of $2.63 for the quarter, missing analyst consensus estimates of $2.73 per ($0.10). The company posted revenue of $30.72 billion for the quarter, versus analyst estimates of $30.53 billion. JPMorgan Chase & Co. achieved a return on equity of 16.58% and a net margin of 33.61%. JPMorgan Chase & Co.’s quarterly revenue fell 4.8% from the same quarter last year. During the same period last year, the company achieved EPS of $4.50. As a group, research analysts expect JPMorgan Chase & Co. to post EPS of 11.23 for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Sunday, July 31. Shareholders of record on Wednesday, July 6 will receive a dividend of $1.00 per share. This represents a dividend of $4.00 on an annualized basis and a yield of 3.41%. The ex-dividend date is Tuesday, July 5. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 29.67%.

JPM has been the subject of several recent analyst reports. Societe Generale upgraded JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and raised its share price target from $145.00 to $150.00 in a Tuesday 24 report. may. BMO Capital Markets raised its price target on JPMorgan Chase & Co. from $150.00 to $156.00 in a Tuesday, May 24 report. Credit Suisse Group set a price target of $160.00 on JPMorgan Chase & Co. in a report on Wednesday, May 25. Morgan Stanley cut its price target on JPMorgan Chase & Co. from $152.00 to $149.00 and set an “underweight” rating on the stock in a report released Friday. Finally, Oppenheimer upgraded JPMorgan Chase & Co. from a “market performer” rating to an “outperformer” rating and set a price target of $167.00 on the stock in a Tuesday, May 3 report. . One investment analyst has assigned the stock a sell rating, eight have issued a hold rating and eight have assigned the company a buy rating. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $161.67.

JPMorgan Chase & Co. Company Profile (Get an evaluation)

JPMorgan Chase & Co operates as a worldwide financial services company. 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 s deposit, investment and lending products, payments and consumer services; lending, deposit, cash management and payment solutions for small businesses; mortgage origination and management activities; residential mortgages and home equity loans; and credit card, car loan and leasing services.

Further reading

Want to see what other hedge funds hold JPM? Visit HoldingsChannel.com for the latest 13F filings and insider trading for JPMorgan Chase & Co. (NYSE:JPM – Get Rating).

Institutional ownership by quarter for JPMorgan Chase & Co. (NYSE: JPM)



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