Jericho Financial LLP Purchases New Stake in JPMorgan Chase & Co. (NYSE:JPM)

Jericho Financial LLP purchased a new stake in JPMorgan Chase & Co. (NYSE:JPM) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 26,877 shares of the financial services provider’s stock, valued at approximately $6,443,000. JPMorgan Chase & Co. makes up about 4.7% of Jericho Financial LLP’s investment portfolio, making the stock its 8th biggest holding.

A number of other hedge funds and other institutional investors have also bought and sold shares of JPM. International Assets Investment Management LLC bought a new position in JPMorgan Chase & Co. in the third quarter valued at about $1,888,088,000. Fisher Asset Management LLC grew its position in JPMorgan Chase & Co. by 31.7% in the third quarter. Fisher Asset Management LLC now owns 16,784,272 shares of the financial services provider’s stock valued at $3,539,132,000 after acquiring an additional 4,043,841 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its position in JPMorgan Chase & Co. by 137.8% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,376,176 shares of the financial services provider’s stock valued at $922,760,000 after acquiring an additional 2,535,590 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec grew its position in JPMorgan Chase & Co. by 93.6% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,692,159 shares of the financial services provider’s stock valued at $567,669,000 after acquiring an additional 1,301,764 shares during the last quarter. Finally, Franklin Resources Inc. grew its position in JPMorgan Chase & Co. by 7.2% in the third quarter. Franklin Resources Inc. now owns 15,073,193 shares of the financial services provider’s stock valued at $3,338,955,000 after acquiring an additional 1,016,289 shares during the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

Insider Buying and Selling

In related news, General Counsel Stacey Friedman sold 3,303 shares of the company’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $253.94, for a total transaction of $838,763.82. Following the completion of the sale, the general counsel now owns 47,620 shares in the company, valued at approximately $12,092,622.80. This represents a 6.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.79% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on JPM. Wells Fargo & Company boosted their price target on JPMorgan Chase & Co. from $240.00 to $270.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Oppenheimer cut JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 20th. Citigroup boosted their price target on JPMorgan Chase & Co. from $215.00 to $250.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Keefe, Bruyette & Woods boosted their price target on JPMorgan Chase & Co. from $257.00 to $264.00 and gave the stock a “market perform” rating in a report on Thursday, January 16th. Finally, Bank of America boosted their price target on JPMorgan Chase & Co. from $260.00 to $280.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $251.78.

JPMorgan Chase & Co. Price Performance

Shares of NYSE:JPM opened at $275.41 on Thursday. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.24. JPMorgan Chase & Co. has a twelve month low of $172.62 and a twelve month high of $278.55. The stock’s 50 day moving average is $251.18 and its 200-day moving average is $231.55. The firm has a market capitalization of $775.37 billion, a price-to-earnings ratio of 13.95, a PEG ratio of 2.94 and a beta of 1.12.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share for the quarter, topping analysts’ consensus estimates of $4.03 by $0.78. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The company had revenue of $42.77 billion for the quarter, compared to analyst estimates of $41.90 billion. During the same period in the prior year, the firm earned $3.04 earnings per share. JPMorgan Chase & Co.’s revenue for the quarter was up 10.9% on a year-over-year basis. Sell-side analysts forecast that JPMorgan Chase & Co. will post 18.05 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Monday, January 6th were issued a dividend of $1.25 per share. The ex-dividend date of this dividend was Monday, January 6th. This represents a $5.00 annualized dividend and a yield of 1.82%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 25.33%.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. The firm offers a range of investment banking products and services in all capital markets, including advising on corporate strategy and structure, capital raising in equity and debt markets, risk management, market making in cash securities and derivative instruments, and brokerage and research.