Riverhead Capital Management LLC raised its stake in JPMorgan Chase & Co. (NYSE:JPM) by 37.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 790,176 shares of the financial services provider’s stock after buying an additional 215,549 shares during the period. JPMorgan Chase & Co. makes up 0.7% of Riverhead Capital Management LLC’s holdings, making the stock its 22nd largest position. Riverhead Capital Management LLC’s holdings in JPMorgan Chase & Co. were worth $46,792,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of the company. Franklin Resources Inc. increased its position in shares of JPMorgan Chase & Co. by 15.6% in the first quarter. Franklin Resources Inc. now owns 42,060,882 shares of the financial services provider’s stock valued at $2,490,856,000 after buying an additional 5,685,864 shares during the period. Norges Bank acquired a new position in shares of JPMorgan Chase & Co. during the fourth quarter valued at $2,137,988,000. Dimensional Fund Advisors LP increased its position in shares of JPMorgan Chase & Co. by 0.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 24,673,028 shares of the financial services provider’s stock valued at $1,629,271,000 after buying an additional 177,169 shares during the period. Primecap Management Co. CA increased its position in shares of JPMorgan Chase & Co. by 43.5% in the first quarter. Primecap Management Co. CA now owns 20,518,581 shares of the financial services provider’s stock valued at $1,215,110,000 after buying an additional 6,218,550 shares during the period. Finally, UBS Asset Management Americas Inc. increased its position in shares of JPMorgan Chase & Co. by 4.2% in the first quarter. UBS Asset Management Americas Inc. now owns 13,168,706 shares of the financial services provider’s stock valued at $779,851,000 after buying an additional 534,343 shares during the period.
Shares of JPMorgan Chase & Co. (NYSE:JPM) traded up 0.31% during trading on Wednesday, hitting $64.33. The stock had a trading volume of 11,806,756 shares. JPMorgan Chase & Co. has a 12-month low of $50.07 and a 12-month high of $69.45. The stock has a 50-day moving average of $62.52 and a 200 day moving average of $60.72. The firm has a market cap of $233.89 billion and a price-to-earnings ratio of 10.90.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, July 31st. Stockholders of record on Wednesday, July 6th will be given a $0.48 dividend. The ex-dividend date is Friday, July 1st. This represents a $1.92 annualized dividend and a dividend yield of 2.98%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $0.44.
JPM has been the topic of several research reports. Wells Fargo & Co. reiterated a “buy” rating on shares of JPMorgan Chase & Co. in a report on Saturday, July 9th. Argus restated a “buy” rating and issued a $72.00 price objective on shares of JPMorgan Chase & Co. in a research report on Monday, July 18th. Vetr lowered JPMorgan Chase & Co. from a “buy” rating to a “hold” rating and set a $65.34 price objective on the stock. in a research report on Thursday, June 9th. Royal Bank Of Canada restated a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Thursday, April 14th. Finally, BMO Capital Markets upped their price objective on JPMorgan Chase & Co. from $71.00 to $77.00 and gave the stock an “outperform” rating in a research report on Thursday, April 14th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and twenty-four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $71.18.
In related news, COO Matthew E. Zames sold 3,991 shares of the company’s stock in a transaction on Friday, July 15th. The stock was sold at an average price of $63.91, for a total value of $255,064.81. Following the completion of the transaction, the chief operating officer now directly owns 282,287 shares in the company, valued at $18,040,962.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ashley Bacon sold 15,521 shares of the company’s stock in a transaction on Friday, July 15th. The shares were sold at an average price of $63.97, for a total value of $992,878.37. Following the completion of the transaction, the insider now owns 14,938 shares of the company’s stock, valued at $955,583.86. The disclosure for this sale can be found here.
JPMorgan Chase & Co is a financial holding company. The Company is engaged in investment banking, financial services. It operates in four segments, as well as a Corporate segment. Its segments are Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking and Asset Management. The Consumer & Community Banking segment serves consumers and businesses through personal service at bank branches and through automatic teller machines, online, mobile and telephone banking.
