Trade Report: The Thompson Davis & CO. Inc. Raises its position in JPMorgan Chase & Co. (JPM) as a favorable investment target.

The Thompson Davis & CO. Inc. Raises its position in JPMorgan Chase & Co. (JPM) as a favorable investment target.

Thompson Davis & CO. Inc. increased its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 2.4% during the second quarter, Holdings Channel reports. The firm owned 8,970 shares of the financial services provider’s stock after buying an additional 214 shares during the period. JPMorgan Chase & Co. comprises 0.9% of Thompson Davis & CO. Inc.’s portfolio, making the stock its 13th largest position. Thompson Davis & CO. Inc.’s holdings in JPMorgan Chase & Co. were worth $557,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Emerald Acquisition Ltd. bought a new stake in JPMorgan Chase & Co. during the second quarter valued at $546,431,000. Primecap Management Co. CA increased its stake in 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. Franklin Resources Inc. increased its stake in 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. Wellington Management Group LLP increased its stake in JPMorgan Chase & Co. by 4.4% in the first quarter. Wellington Management Group LLP now owns 69,735,097 shares of the financial services provider’s stock valued at $4,129,713,000 after buying an additional 2,936,653 shares during the period. Finally, Global Thematic Partners LLC bought a new stake in JPMorgan Chase & Co. during the second quarter valued at $129,922,000. Hedge funds and other institutional investors own 73.41% of the company’s stock.

JPMorgan Chase & Co. (NYSE:JPM) opened at 69.11 on Friday. JPMorgan Chase & Co. has a 52 week low of $52.50 and a 52 week high of $69.77. The company’s 50 day moving average is $67.40 and its 200 day moving average is $64.70. The stock has a market cap of $248.62 billion, a P/E ratio of 11.92 and a beta of 1.54.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Friday, October 14th. The financial services provider reported $1.58 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.39 by $0.19. The firm had revenue of $25.50 billion for the quarter. JPMorgan Chase & Co. had a net margin of 22.92% and a return on equity of 10.47%. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.54 earnings per share. Equities analysts predict that JPMorgan Chase & Co. will post $5.87 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Thursday, October 6th will be given a $0.48 dividend. The ex-dividend date is Tuesday, October 4th. This represents a $1.92 annualized dividend and a yield of 2.78%. JPMorgan Chase & Co.’s dividend payout ratio is presently 33.10%.

JPM has been the subject of several research reports. Vetr upgraded shares of JPMorgan Chase & Co. from a “strong sell” rating to a “sell” rating and set a $57.51 price target for the company in a research note on Tuesday, July 5th. Wells Fargo & Co. restated a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Saturday, July 9th. Barclays PLC restated a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Saturday, July 9th. Credit Suisse Group AG restated a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Saturday, July 9th. Finally, Jefferies Group restated a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Sunday, July 10th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-one have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $72.38.

In related news, General Counsel Stacey Friedman sold 2,099 shares of JPMorgan Chase & Co. stock in a transaction dated Wednesday, October 26th. The shares were sold at an average price of $69.03, for a total value of $144,893.97. Following the sale, the general counsel now directly owns 4,752 shares in the company, valued at approximately $328,030.56. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Mary E. Erdoes sold 25,542 shares of JPMorgan Chase & Co. stock in a transaction dated Monday, October 17th. The shares were sold at an average price of $67.26, for a total transaction of $1,717,954.92. Following the completion of the sale, the chief executive officer now owns 291,080 shares in the company, valued at $19,578,040.80. The disclosure for this sale can be found here. 0.85% of the stock is currently owned by corporate insiders.

About JPMorgan Chase & Co.

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.

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