IVC Wealth Advisors LLC grew its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 3.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,929 shares of the financial services provider’s stock after buying an additional 121 shares during the quarter. IVC Wealth Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $571,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in JPM. Adirondack Retirement Specialists Inc. raised its position in JPMorgan Chase & Co. by 510.8% in the 1st quarter. Adirondack Retirement Specialists Inc. now owns 226 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 189 shares during the period. Nordwand Advisors LLC purchased a new position in shares of JPMorgan Chase & Co. in the first quarter valued at about $30,000. Boulder Wealth Advisors LLC purchased a new position in shares of JPMorgan Chase & Co. in the fourth quarter valued at about $43,000. Sageworth Trust Co increased its position in shares of JPMorgan Chase & Co. by 266.7% in the first quarter. Sageworth Trust Co now owns 407 shares of the financial services provider’s stock valued at $53,000 after acquiring an additional 296 shares during the period. Finally, Freedom Wealth Alliance LLC purchased a new position in shares of JPMorgan Chase & Co. in the fourth quarter valued at about $60,000. Hedge funds and other institutional investors own 68.94% of the company’s stock.
JPMorgan Chase & Co. Stock Down 1.0 %
Shares of JPMorgan Chase & Co. stock opened at $145.73 on Friday. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.90 and a current ratio of 0.90. The stock has a market capitalization of $423.50 billion, a PE ratio of 9.38, a price-to-earnings-growth ratio of 1.89 and a beta of 1.11. JPMorgan Chase & Co. has a 52-week low of $101.28 and a 52-week high of $159.38. The company has a 50-day simple moving average of $150.87 and a two-hundred day simple moving average of $141.78.
JPMorgan Chase & Co. Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, October 6th will be issued a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a dividend yield of 2.88%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend is Thursday, October 5th. JPMorgan Chase & Co.’s payout ratio is presently 25.74%.
Insider Activity
In other news, General Counsel Stacey Friedman sold 4,310 shares of the business’s stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $144.86, for a total transaction of $624,346.60. Following the completion of the transaction, the general counsel now directly owns 53,425 shares of the company’s stock, valued at $7,739,145.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.79% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
JPM has been the topic of a number of analyst reports. Societe Generale cut shares of JPMorgan Chase & Co. from a “buy” rating to a “hold” rating in a research report on Monday, July 10th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $158.00 target price on shares of JPMorgan Chase & Co. in a research note on Friday, September 8th. Oppenheimer cut their target price on shares of JPMorgan Chase & Co. from $227.00 to $219.00 and set an “outperform” rating on the stock in a research note on Friday, August 18th. Credit Suisse Group lifted their target price on shares of JPMorgan Chase & Co. from $160.00 to $170.00 in a research note on Monday, July 17th. Finally, Morgan Stanley boosted their price objective on shares of JPMorgan Chase & Co. from $173.00 to $179.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 12th. Eight equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $167.21.
Get Our Latest Analysis on JPMorgan Chase & Co.
JPMorgan Chase & Co. 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, investment and lending products, cash management, and payments and services to consumers and small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services.
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