JPMorgan Chase & Co. (JPM) Shares Bought by Pinnacle Financial Partners Inc.

Pinnacle Financial Partners Inc. grew its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 11.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 148,315 shares of the financial services provider’s stock after acquiring an additional 15,233 shares during the period. JPMorgan Chase & Co. comprises approximately 1.5% of Pinnacle Financial Partners Inc.’s holdings, making the stock its 10th biggest holding. Pinnacle Financial Partners Inc.’s holdings in JPMorgan Chase & Co. were worth $15,454,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. BlackRock Inc. increased its stake in JPMorgan Chase & Co. by 0.7% during the 1st quarter. BlackRock Inc. now owns 228,054,279 shares of the financial services provider’s stock worth $25,079,128,000 after buying an additional 1,627,006 shares during the period. Schwab Charles Investment Management Inc. increased its stake in JPMorgan Chase & Co. by 0.4% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 12,738,914 shares of the financial services provider’s stock worth $1,400,899,000 after buying an additional 49,436 shares during the period. California Public Employees Retirement System increased its stake in JPMorgan Chase & Co. by 0.5% during the 1st quarter. California Public Employees Retirement System now owns 9,430,305 shares of the financial services provider’s stock worth $1,037,051,000 after buying an additional 44,527 shares during the period. OppenheimerFunds Inc. grew its holdings in JPMorgan Chase & Co. by 104.9% during the 1st quarter. OppenheimerFunds Inc. now owns 9,051,033 shares of the financial services provider’s stock worth $995,342,000 after acquiring an additional 4,634,515 shares in the last quarter. Finally, Summit Trail Advisors LLC grew its holdings in JPMorgan Chase & Co. by 10,129.2% during the 1st quarter. Summit Trail Advisors LLC now owns 6,914,142 shares of the financial services provider’s stock worth $6,914,000 after acquiring an additional 6,846,550 shares in the last quarter. 70.56% of the stock is currently owned by institutional investors and hedge funds.

In other news, CEO Gordon Smith sold 30,725 shares of JPMorgan Chase & Co. stock in a transaction dated Monday, July 23rd. The shares were sold at an average price of $114.01, for a total value of $3,502,957.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.73% of the company’s stock.

NYSE JPM opened at $108.09 on Friday. JPMorgan Chase & Co. has a one year low of $95.95 and a one year high of $119.33. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.18. The stock has a market capitalization of $387.26 billion, a PE ratio of 15.73, a price-to-earnings-growth ratio of 1.85 and a beta of 1.17.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Friday, October 12th. The financial services provider reported $2.34 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.24 by $0.10. JPMorgan Chase & Co. had a net margin of 22.80% and a return on equity of 13.18%. The business had revenue of $27.26 billion during the quarter, compared to analyst estimates of $27.20 billion. During the same period in the previous year, the business posted $1.76 EPS. Equities analysts forecast that JPMorgan Chase & Co. will post 9.17 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 31st. Stockholders of record on Friday, October 5th will be issued a $0.80 dividend. The ex-dividend date is Thursday, October 4th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $0.56. This represents a $3.20 annualized dividend and a dividend yield of 2.96%. JPMorgan Chase & Co.’s payout ratio is 46.58%.

JPM has been the subject of several recent analyst reports. Zacks Investment Research lowered shares of JPMorgan Chase & Co. from a “hold” rating to a “sell” rating in a report on Monday, July 2nd. Goldman Sachs Group set a $130.00 price objective on shares of JPMorgan Chase & Co. and gave the stock a “neutral” rating in a report on Friday, October 12th. Credit Suisse Group set a $130.00 price objective on shares of JPMorgan Chase & Co. and gave the stock a “buy” rating in a report on Thursday, July 12th. Bank of America set a $132.00 price objective on shares of JPMorgan Chase & Co. and gave the stock a “buy” rating in a report on Sunday, October 14th. Finally, Vining Sparks reissued a “buy” rating and set a $125.00 price objective on shares of JPMorgan Chase & Co. in a report on Friday, October 12th. Eight equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $123.44.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking, and Asset & Wealth Management. The Consumer & Community Banking segment offers deposit and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; residential mortgages and home equity loans; and credit cards, payment processing services, auto loans and leases.

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

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