Primecap Management Co. CA Buys 432,619 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Primecap Management Co. CA grew its stake in JPMorgan Chase & Co. (NYSE:JPM) by 8.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,582,865 shares of the financial services provider’s stock after acquiring an additional 432,619 shares during the quarter. Primecap Management Co. CA owned 0.19% of JPMorgan Chase & Co. worth $1,129,190,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. GDS Wealth Management increased its stake in JPMorgan Chase & Co. by 9.1% during the 2nd quarter. GDS Wealth Management now owns 72,716 shares of the financial services provider’s stock worth $14,708,000 after purchasing an additional 6,062 shares in the last quarter. Pekin Hardy Strauss Inc. increased its stake in JPMorgan Chase & Co. by 6.5% during the 2nd quarter. Pekin Hardy Strauss Inc. now owns 14,771 shares of the financial services provider’s stock worth $2,988,000 after purchasing an additional 900 shares in the last quarter. Excalibur Management Corp increased its stake in JPMorgan Chase & Co. by 0.5% during the 2nd quarter. Excalibur Management Corp now owns 36,254 shares of the financial services provider’s stock worth $7,333,000 after purchasing an additional 178 shares in the last quarter. Lmcg Investments LLC increased its stake in JPMorgan Chase & Co. by 0.8% during the 2nd quarter. Lmcg Investments LLC now owns 192,642 shares of the financial services provider’s stock worth $38,964,000 after purchasing an additional 1,547 shares in the last quarter. Finally, Luts & Greenleigh Group Inc. bought a new stake in JPMorgan Chase & Co. during the 2nd quarter worth approximately $918,000. 71.55% of the stock is owned by institutional investors.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock opened at $210.98 on Friday. The business’s 50-day moving average price is $211.61 and its 200-day moving average price is $201.64. 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 $605.86 billion, a price-to-earnings ratio of 11.77, a PEG ratio of 2.33 and a beta of 1.12. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.24.

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

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 4th will be issued a dividend of $1.25 per share. The ex-dividend date is Friday, October 4th. This represents a $5.00 annualized dividend and a yield of 2.37%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend payout ratio is 25.66%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Morgan Stanley reduced their price target on JPMorgan Chase & Co. from $226.00 to $220.00 and set an “overweight” rating for the company in a research report on Thursday, September 12th. Barclays upped their price target on JPMorgan Chase & Co. from $212.00 to $217.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. StockNews.com raised JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research report on Saturday, July 13th. Oppenheimer upped their price target on JPMorgan Chase & Co. from $215.00 to $221.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. Finally, Wolfe Research downgraded JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research report on Monday, July 8th. Eight research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, JPMorgan Chase & Co. presently has an average rating of “Moderate Buy” and a consensus price target 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.