Trade Report: The White Pine Investment CO invests in JPMorgan Chase & Co. (JPM) Shares

The White Pine Investment CO invests in JPMorgan Chase & Co. (JPM) Shares

White Pine Investment CO raised its position in JPMorgan Chase & Co. (NYSE:JPM) by 1.4% during the second quarter, Holdings Channel reports. The fund owned 42,373 shares of the financial services provider’s stock after buying an additional 589 shares during the period. JPMorgan Chase & Co. makes up 1.6% of White Pine Investment CO’s portfolio, making the stock its 29th largest position. White Pine Investment CO’s holdings in JPMorgan Chase & Co. were worth $2,633,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of JPM. Wellington Management Group LLP raised its stake in shares of 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 worth $4,129,713,000 after buying an additional 2,936,653 shares during the last quarter. Franklin Resources Inc. raised its stake 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 worth $2,490,856,000 after buying an additional 5,685,864 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of JPMorgan Chase & Co. by 1.9% in the first quarter. Geode Capital Management LLC now owns 31,032,893 shares of the financial services provider’s stock worth $1,834,191,000 after buying an additional 570,147 shares during the last quarter. Dodge & Cox raised its stake in shares of JPMorgan Chase & Co. by 0.3% in the first quarter. Dodge & Cox now owns 26,416,949 shares of the financial services provider’s stock worth $1,564,412,000 after buying an additional 78,910 shares during the last quarter. Finally, Primecap Management Co. CA raised its stake 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 worth $1,215,110,000 after buying an additional 6,218,550 shares during the last quarter. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. (NYSE:JPM) traded up 1.77% during mid-day trading on Wednesday, hitting $67.78. The stock had a trading volume of 7,405,466 shares. The stock has a 50 day moving average of $66.55 and a 200-day moving average of $63.63. JPMorgan Chase & Co. has a 1-year low of $52.50 and a 1-year high of $69.03. The firm has a market cap of $244.79 billion, a P/E ratio of 11.49 and a beta of 1.54.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Thursday, July 14th. The financial services provider reported $1.55 EPS for the quarter, beating the consensus estimate of $1.43 by $0.12. The firm earned $24.40 billion during the quarter, compared to analysts’ expectations of $23.84 billion. JPMorgan Chase & Co. had a return on equity of 10.20% and a net margin of 24.47%. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.54 EPS. Analysts predict that JPMorgan Chase & Co. will post $5.65 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Thursday, October 6th will be issued a $0.48 dividend. The ex-dividend date is Tuesday, October 4th. This represents a $1.92 annualized dividend and a yield of 2.88%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 32.54%.

A number of equities analysts have recently commented on the company. Wells Fargo & Co. restated 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 report on Monday, July 18th. Vetr downgraded JPMorgan Chase & Co. from a “buy” rating to a “hold” rating and set a $65.34 price objective on the stock. in a report on Thursday, June 9th. Sanford C. Bernstein downgraded JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating and raised their price objective for the stock from $65.72 to $67.00 in a report on Tuesday, August 16th. They noted that the move was a valuation call. Finally, Keefe, Bruyette & Woods restated an “outperform” rating on shares of JPMorgan Chase & Co. in a report on Tuesday, September 27th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty-two have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $71.68.

In other news, EVP Gordon Smith sold 23,735 shares of the company’s stock in a transaction that occurred on Friday, July 15th. The stock was sold at an average price of $64.05, for a total value of $1,520,226.75. Following the sale, the executive vice president now directly owns 152,462 shares in the company, valued at approximately $9,765,191.10. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Matthew E. Zames sold 3,991 shares of the company’s stock in a transaction that occurred on Friday, July 15th. The shares were sold at an average price of $63.91, for a total value of $255,064.81. Following the completion of the sale, the chief operating officer now owns 282,287 shares in the company, valued at $18,040,962.17. The disclosure for this sale can be found here. 0.85% of the stock is owned by company 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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