Element Capital Management LLC Makes New Investment in JPMorgan Chase & Co. (NYSE:JPM)

Element Capital Management LLC purchased a new stake in JPMorgan Chase & Co. (NYSE:JPM) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 54,115 shares of the financial services provider’s stock, valued at approximately $10,945,000. JPMorgan Chase & Co. comprises approximately 0.9% of Element Capital Management LLC’s holdings, making the stock its 11th largest position.

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

JPMorgan Chase & Co. Trading Up 1.4 %

NYSE JPM opened at $210.48 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.24. The business has a fifty day simple moving average of $211.49 and a 200 day simple moving average of $201.47. JPMorgan Chase & Co. has a 12 month low of $135.19 and a 12 month high of $225.48. The firm has a market capitalization of $604.43 billion, a P/E ratio of 11.74, a PEG ratio of 2.33 and a beta of 1.12.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Friday, July 12th. The financial services provider reported $6.12 EPS for the quarter, beating the consensus estimate 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 company had revenue of $50.80 billion during the quarter, compared to the consensus estimate of $42.23 billion. During the same quarter in the prior year, the company posted $4.37 earnings per share. On average, analysts predict that JPMorgan Chase & Co. will post 16.78 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date of this dividend is Friday, October 4th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s payout ratio is presently 25.66%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on JPM. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $235.00 price objective on shares of JPMorgan Chase & Co. in a research report on Tuesday, September 3rd. BMO Capital Markets lifted their target price on JPMorgan Chase & Co. from $195.00 to $205.00 and gave the stock a “market perform” rating in a report on Thursday, July 11th. Evercore ISI increased their price target on JPMorgan Chase & Co. from $210.00 to $211.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. Wolfe Research lowered shares of JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research note on Monday, July 8th. Finally, Citigroup increased their target price on shares of JPMorgan Chase & Co. from $205.00 to $215.00 and gave the stock a “neutral” rating in a research note on Monday, July 15th. Eight analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, JPMorgan Chase & Co. currently has a consensus rating of “Moderate Buy” and an average target price of $211.06.

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, 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.