Hicks Capital Management LLC Purchases New Position in JPMorgan Chase & Co. (NYSE:JPM)

Hicks Capital Management LLC purchased a new stake in shares of JPMorgan Chase & Co. (NYSE:JPM) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 14,990 shares of the financial services provider’s stock, valued at approximately $3,677,000. JPMorgan Chase & Co. comprises about 4.9% of Hicks Capital Management LLC’s investment portfolio, making the stock its 4th largest position.

Other institutional investors have also recently added to or reduced their stakes in the company. Fourth Dimension Wealth LLC acquired a new stake in JPMorgan Chase & Co. in the 4th quarter valued at about $471,000. Disciplined Investments LLC acquired a new stake in JPMorgan Chase & Co. in the 4th quarter valued at about $217,000. LGT Group Foundation increased its position in JPMorgan Chase & Co. by 2.8% in the 4th quarter. LGT Group Foundation now owns 525,801 shares of the financial services provider’s stock valued at $126,040,000 after acquiring an additional 14,300 shares in the last quarter. Kinsale Capital Group Inc. increased its position in JPMorgan Chase & Co. by 11.1% in the 4th quarter. Kinsale Capital Group Inc. now owns 43,732 shares of the financial services provider’s stock valued at $10,483,000 after acquiring an additional 4,375 shares in the last quarter. Finally, Hidden Cove Wealth Management LLC grew its position in shares of JPMorgan Chase & Co. by 4.2% during the 1st quarter. Hidden Cove Wealth Management LLC now owns 2,758 shares of the financial services provider’s stock worth $677,000 after buying an additional 112 shares during the period. 71.55% of the stock is owned by institutional investors.

Insider Activity

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 2,821 shares of the company’s stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $265.71, for a total transaction of $749,567.91. Following the sale, the general counsel directly owned 68,757 shares of the company’s stock, valued at approximately $18,269,422.47. This represents a 3.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Linda Bammann sold 9,500 shares of the company’s stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $250.00, for a total transaction of $2,375,000.00. Following the sale, the director directly owned 91,539 shares in the company, valued at $22,884,750. This trade represents a 9.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 71,200 shares of company stock valued at $18,060,015. 0.47% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. UBS Group lifted their price target on shares of JPMorgan Chase & Co. from $277.00 to $305.00 and gave the stock a “buy” rating in a research report on Thursday, April 17th. Citigroup reiterated a “neutral” rating and set a $275.00 price target (up previously from $250.00) on shares of JPMorgan Chase & Co. in a research report on Wednesday, June 25th. Baird R W cut shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research report on Friday, June 27th. KGI Securities assumed coverage on shares of JPMorgan Chase & Co. in a research report on Sunday, April 13th. They set a “hold” rating for the company. Finally, Royal Bank Of Canada set a $305.00 price target on shares of JPMorgan Chase & Co. and gave the stock an “outperform” rating in a research report on Monday. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $275.80.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock opened at $291.85 on Thursday. The company’s fifty day simple moving average is $264.89 and its 200-day simple moving average is $253.77. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.23. The firm has a market cap of $811.08 billion, a PE ratio of 14.33, a P/E/G ratio of 2.70 and a beta of 1.10. JPMorgan Chase & Co. has a 12 month low of $190.90 and a 12 month high of $292.82.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.63 by $0.44. JPMorgan Chase & Co. had a net margin of 21.21% and a return on equity of 16.88%. The firm had revenue of $45.30 billion for the quarter, compared to analyst estimates of $43.62 billion. During the same period in the prior year, the firm posted $4.44 earnings per share. The company’s quarterly revenue was up 8.0% compared to the same quarter last year. Equities research analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd will be given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 1.92%. The ex-dividend date of this dividend is Thursday, July 3rd. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 27.49%.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.