Zweig DiMenna Associates LLC Makes New $1.81 Million Investment in JPMorgan Chase & Co. (NYSE:JPM)

Zweig DiMenna Associates LLC bought a new position in shares of JPMorgan Chase & Co. (NYSE:JPM) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 19,185 shares of the financial services provider’s stock, valued at approximately $1,805,000.

Several other institutional investors also recently bought and sold shares of the company. Guggenheim Capital LLC increased its holdings in JPMorgan Chase & Co. by 6.5% during the fourth quarter. Guggenheim Capital LLC now owns 421,677 shares of the financial services provider’s stock valued at $58,782,000 after buying an additional 25,765 shares during the period. Macquarie Group Ltd. increased its holdings in shares of JPMorgan Chase & Co. by 18.1% in the 4th quarter. Macquarie Group Ltd. now owns 1,051,725 shares of the financial services provider’s stock valued at $146,611,000 after acquiring an additional 161,409 shares during the period. Triangle Securities Wealth Management raised its position in shares of JPMorgan Chase & Co. by 7.0% in the 1st quarter. Triangle Securities Wealth Management now owns 33,030 shares of the financial services provider’s stock worth $2,974,000 after acquiring an additional 2,168 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in JPMorgan Chase & Co. by 5.1% in the first quarter. State of Alaska Department of Revenue now owns 578,273 shares of the financial services provider’s stock worth $52,061,000 after purchasing an additional 28,127 shares in the last quarter. Finally, Gradient Investments LLC boosted its holdings in shares of JPMorgan Chase & Co. by 17.1% in the 1st quarter. Gradient Investments LLC now owns 124,018 shares of the financial services provider’s stock valued at $11,165,000 after buying an additional 18,067 shares in the last quarter. 71.35% of the stock is owned by hedge funds and other institutional investors.

A number of equities research analysts recently commented on JPM shares. Oppenheimer reissued a “hold” rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 14th. Atlantic Securities upgraded JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating and set a $120.00 price objective for the company in a report on Wednesday, July 22nd. Wolfe Research upgraded JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $113.00 target price on the stock in a research note on Thursday, July 9th. UBS Group increased their price target on JPMorgan Chase & Co. from $82.00 to $96.00 and gave the company a “neutral” rating in a research note on Monday, May 4th. Finally, Morgan Stanley reissued a “buy” rating and issued a $106.00 price target on shares of JPMorgan Chase & Co. in a report on Monday, July 27th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and fifteen have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $110.89.

Shares of JPMorgan Chase & Co. stock opened at $96.64 on Friday. The firm has a 50-day simple moving average of $96.77 and a two-hundred day simple moving average of $105.48. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.89 and a current ratio of 0.88. JPMorgan Chase & Co. has a fifty-two week low of $76.91 and a fifty-two week high of $141.10. The company has a market cap of $294.46 billion, a P/E ratio of 13.04, a price-to-earnings-growth ratio of 3.24 and a beta of 1.19.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $1.38 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.34 by $0.04. The firm had revenue of $32.98 billion during the quarter, compared to analyst estimates of $30.23 billion. JPMorgan Chase & Co. had a return on equity of 10.75% and a net margin of 18.16%. JPMorgan Chase & Co.’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.82 EPS. Equities research analysts forecast that JPMorgan Chase & Co. will post 5.96 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Monday, July 6th were given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.73%. The ex-dividend date of this dividend was Thursday, July 2nd. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 34.35%.

In other news, CEO Mary E. Erdoes sold 24,554 shares of the company’s stock in a transaction that occurred on Wednesday, July 15th. The stock was sold at an average price of $99.52, for a total transaction of $2,443,614.08. 0.78% of the stock is owned by insiders.

JPMorgan Chase & Co. Company 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 and investment products 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, payment processing, auto loan, and leasing services.

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

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