Breakwater Investment Management Raises Position in JPMorgan Chase & Co. (NYSE:JPM)

Breakwater Investment Management lifted its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 66.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 212 shares of the financial services provider’s stock after purchasing an additional 85 shares during the quarter. Breakwater Investment Management’s holdings in JPMorgan Chase & Co. were worth $43,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Capital International Investors grew its stake in shares of JPMorgan Chase & Co. by 1.9% during the first quarter. Capital International Investors now owns 42,294,992 shares of the financial services provider’s stock worth $8,471,687,000 after acquiring an additional 778,297 shares during the last quarter. Capital World Investors boosted its stake in JPMorgan Chase & Co. by 0.4% in the 1st quarter. Capital World Investors now owns 34,422,011 shares of the financial services provider’s stock worth $6,894,729,000 after purchasing an additional 150,812 shares in the last quarter. Capital Research Global Investors boosted its stake in JPMorgan Chase & Co. by 23.3% in the 1st quarter. Capital Research Global Investors now owns 17,200,124 shares of the financial services provider’s stock worth $3,445,185,000 after purchasing an additional 3,252,451 shares in the last quarter. Fisher Asset Management LLC grew its position in JPMorgan Chase & Co. by 4.0% during the 4th quarter. Fisher Asset Management LLC now owns 11,836,898 shares of the financial services provider’s stock worth $2,013,457,000 after purchasing an additional 450,098 shares during the last quarter. Finally, Sanders Capital LLC increased its stake in JPMorgan Chase & Co. by 3.2% during the 4th quarter. Sanders Capital LLC now owns 8,009,508 shares of the financial services provider’s stock valued at $1,362,417,000 after purchasing an additional 246,158 shares in the last quarter. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Stock Up 1.4 %

JPMorgan Chase & Co. stock opened at $210.48 on Friday. JPMorgan Chase & Co. has a 12 month low of $135.19 and a 12 month high of $225.48. The stock has a market capitalization of $604.43 billion, a PE ratio of 11.74, a price-to-earnings-growth ratio of 2.33 and a beta of 1.12. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.91 and a quick ratio of 0.91. The business has a 50 day simple moving average of $211.49 and a 200-day simple moving average of $201.47.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Friday, July 12th. The financial services provider reported $6.12 earnings per share for the quarter, beating analysts’ consensus estimates of $4.19 by $1.93. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. The firm had revenue of $50.80 billion for the quarter, compared to analyst estimates of $42.23 billion. During the same period last year, the company posted $4.37 EPS. On average, analysts anticipate that JPMorgan Chase & Co. will post 16.78 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 4th will be given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.38%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend is Friday, October 4th. JPMorgan Chase & Co.’s payout ratio is presently 25.66%.

Wall Street Analyst Weigh In

Several research firms have recently commented on JPM. Oppenheimer lifted their price objective on shares of JPMorgan Chase & Co. from $215.00 to $221.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. BMO Capital Markets lifted their price target on JPMorgan Chase & Co. from $195.00 to $205.00 and gave the stock a “market perform” rating in a research report on Thursday, July 11th. Wells Fargo & Company increased their price objective on JPMorgan Chase & Co. from $220.00 to $225.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Morgan Stanley reduced their price objective on JPMorgan Chase & Co. from $226.00 to $220.00 and set an “overweight” rating for the company in a research note on Thursday, September 12th. Finally, StockNews.com upgraded JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research report on Saturday, July 13th. Eight equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $211.06.

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, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.