Welch & Forbes LLC Acquires 16,421 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Welch & Forbes LLC grew its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 2.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 640,620 shares of the financial services provider’s stock after acquiring an additional 16,421 shares during the quarter. JPMorgan Chase & Co. accounts for about 1.7% of Welch & Forbes LLC’s investment portfolio, making the stock its 16th largest holding. Welch & Forbes LLC’s holdings in JPMorgan Chase & Co. were worth $71,621,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the business. Smart Portfolios LLC grew its holdings in shares of JPMorgan Chase & Co. by 29.6% during the fourth quarter. Smart Portfolios LLC now owns 499 shares of the financial services provider’s stock worth $49,000 after buying an additional 114 shares in the last quarter. Semmax Financial Advisors Inc. bought a new position in shares of JPMorgan Chase & Co. during the fourth quarter worth about $56,000. D Orazio & Associates Inc. grew its holdings in shares of JPMorgan Chase & Co. by 62.6% during the fourth quarter. D Orazio & Associates Inc. now owns 779 shares of the financial services provider’s stock worth $76,000 after buying an additional 300 shares in the last quarter. QV Investors Inc. grew its holdings in shares of JPMorgan Chase & Co. by 9.1% during the fourth quarter. QV Investors Inc. now owns 1,315 shares of the financial services provider’s stock worth $128,000 after buying an additional 110 shares in the last quarter. Finally, Rocky Mountain Advisers LLC grew its holdings in shares of JPMorgan Chase & Co. by 143.4% during the fourth quarter. Rocky Mountain Advisers LLC now owns 1,358 shares of the financial services provider’s stock worth $133,000 after buying an additional 800 shares in the last quarter. Institutional investors own 71.57% of the company’s stock.

In other news, insider Lori A. Beer sold 13,341 shares of the firm’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $114.28, for a total value of $1,524,609.48. Following the completion of the sale, the insider now directly owns 10,130 shares of the company’s stock, valued at $1,157,656.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Peter Scher sold 10,816 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $115.00, for a total value of $1,243,840.00. The disclosure for this sale can be found here. Company insiders own 0.76% of the company’s stock.

JPM has been the subject of a number of research reports. Royal Bank of Canada reiterated a “buy” rating and set a $120.00 price objective on shares of JPMorgan Chase & Co. in a report on Tuesday, July 16th. Goldman Sachs Group reiterated a “neutral” rating and set a $117.00 price objective on shares of JPMorgan Chase & Co. in a report on Monday, July 22nd. Deutsche Bank reiterated a “neutral” rating on shares of JPMorgan Chase & Co. in a report on Friday, June 28th. BMO Capital Markets increased their price objective on JPMorgan Chase & Co. from $116.00 to $118.00 and gave the stock a “market perform” rating in a report on Monday, April 15th. Finally, Credit Suisse Group increased their price objective on JPMorgan Chase & Co. from $128.00 to $132.00 and gave the stock an “outperform” rating in a report on Monday, April 15th. Eleven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $122.94.

Shares of JPM traded down $0.01 during mid-day trading on Friday, reaching $112.93. The company’s stock had a trading volume of 11,024,017 shares, compared to its average volume of 10,896,389. JPMorgan Chase & Co. has a 1-year low of $91.11 and a 1-year high of $119.24. The stock has a market cap of $366.37 billion, a PE ratio of 12.55, a P/E/G ratio of 1.63 and a beta of 1.16. The business’s 50-day moving average price is $112.95. The company has a current ratio of 0.97, a quick ratio of 1.00 and a debt-to-equity ratio of 1.22.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $2.82 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.50 by $0.32. JPMorgan Chase & Co. had a return on equity of 14.41% and a net margin of 24.73%. The company had revenue of $28.83 billion during the quarter, compared to analysts’ expectations of $28.52 billion. During the same period last year, the firm posted $2.29 earnings per share. The business’s revenue was up 3.9% on a year-over-year basis. As a group, research analysts predict that JPMorgan Chase & Co. will post 9.92 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Friday, July 5th were given a $0.80 dividend. The ex-dividend date was Wednesday, July 3rd. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.83%. JPMorgan Chase & Co.’s payout ratio is 35.56%.

JPMorgan Chase & Co. Profile

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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