PI Global Investments
Hedge Funds

Viking Fund Management LLC Acquires 9,500 Shares of JPMorgan Chase & Co. (NYSE:JPM)


Viking Fund Management LLC boosted its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 17.6% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 63,500 shares of the financial services provider’s stock after buying an additional 9,500 shares during the period. JPMorgan Chase & Co. comprises about 2.0% of Viking Fund Management LLC’s portfolio, making the stock its 8th biggest holding. Viking Fund Management LLC’s holdings in JPMorgan Chase & Co. were worth $8,656,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of JPM. Landmark Wealth Management LLC acquired a new position in JPMorgan Chase & Co. during the first quarter worth $46,000. Evolution Advisers Inc. bought a new stake in JPMorgan Chase & Co. during the fourth quarter valued at about $52,000. Leverty Financial Group LLC bought a new stake in JPMorgan Chase & Co. during the fourth quarter valued at about $54,000. Delos Wealth Advisors LLC boosted its holdings in JPMorgan Chase & Co. by 13,433.3% during the fourth quarter. Delos Wealth Advisors LLC now owns 406 shares of the financial services provider’s stock valued at $64,000 after acquiring an additional 403 shares during the period. Finally, Bromfield Sneider Wealth Advisors bought a new stake in JPMorgan Chase & Co. during the first quarter valued at about $76,000. 70.35% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have issued reports on JPM. Barclays set a $200.00 price target on shares of JPMorgan Chase & Co. in a report on Monday. Berenberg Bank upgraded shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating and set a $120.00 price target for the company in a report on Monday. Citigroup upgraded shares of JPMorgan Chase & Co. from a “neutral” rating to a “buy” rating and decreased their price target for the company from $145.00 to $135.00 in a report on Tuesday, July 12th. Morgan Stanley dropped their price objective on shares of JPMorgan Chase & Co. from $149.00 to $127.00 and set an “underweight” rating for the company in a report on Tuesday, July 12th. Finally, Argus dropped their price objective on shares of JPMorgan Chase & Co. from $177.00 to $155.00 in a report on Thursday, April 14th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $145.95.

JPMorgan Chase & Co. Price Performance

Shares of JPM stock opened at $114.54 on Thursday. JPMorgan Chase & Co. has a 52-week low of $106.06 and a 52-week high of $172.96. The stock has a market cap of $336.41 billion, a PE ratio of 9.19, a PEG ratio of 1.99 and a beta of 1.15. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.82 and a current ratio of 0.83. The firm’s 50 day moving average price is $118.98 and its two-hundred day moving average price is $133.58.

JPMorgan Chase & Co. (NYSE:JPMGet Rating) last announced its quarterly earnings data on Thursday, July 14th. The financial services provider reported $2.76 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.76. JPMorgan Chase & Co. had a net margin of 30.41% and a return on equity of 15.29%. The firm had revenue of $30.72 billion for the quarter, compared to analysts’ expectations of $31.82 billion. During the same period last year, the firm earned $3.78 earnings per share. The business’s revenue for the quarter was up .8% on a year-over-year basis. As a group, analysts forecast that JPMorgan Chase & Co. will post 11.24 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, July 31st. Stockholders of record on Wednesday, July 6th will be given a dividend of $1.00 per share. The ex-dividend date of this dividend is Tuesday, July 5th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.49%. JPMorgan Chase & Co.’s dividend payout ratio is 32.10%.

JPMorgan Chase & Co. Profile

(Get Rating)

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 s deposit, investment and lending products, payments, 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, auto loan, and leasing services.

See Also

Want to see what other hedge funds are holding JPM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for JPMorgan Chase & Co. (NYSE:JPMGet Rating).

Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)



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