Perfromance Wealth Partners LLC lessened its stake in JPMorgan Chase & Co. (NYSE:JPM – Free Report) by 6.1% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 101,859 shares of the financial services provider’s stock after selling 6,603 shares during the quarter. JPMorgan Chase & Co. makes up about 0.7% of Perfromance Wealth Partners LLC’s portfolio, making the stock its 15th biggest holding. Perfromance Wealth Partners LLC’s holdings in JPMorgan Chase & Co. were worth $14,733,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Oxler Private Wealth LLC lifted its position in shares of JPMorgan Chase & Co. by 0.9% during the fourth quarter. Oxler Private Wealth LLC now owns 8,158 shares of the financial services provider’s stock worth $1,094,000 after purchasing an additional 71 shares in the last quarter. Prostatis Group LLC lifted its position in shares of JPMorgan Chase & Co. by 0.9% during the first quarter. Prostatis Group LLC now owns 8,046 shares of the financial services provider’s stock worth $1,059,000 after purchasing an additional 74 shares in the last quarter. Cravens & Co Advisors LLC lifted its position in shares of JPMorgan Chase & Co. by 1.3% during the first quarter. Cravens & Co Advisors LLC now owns 5,905 shares of the financial services provider’s stock worth $769,000 after purchasing an additional 74 shares in the last quarter. Quent Capital LLC lifted its position in shares of JPMorgan Chase & Co. by 0.7% during the second quarter. Quent Capital LLC now owns 9,969 shares of the financial services provider’s stock worth $1,450,000 after purchasing an additional 74 shares in the last quarter. Finally, Howard Wealth Management LLC lifted its position in shares of JPMorgan Chase & Co. by 2.5% during the first quarter. Howard Wealth Management LLC now owns 3,062 shares of the financial services provider’s stock worth $399,000 after purchasing an additional 75 shares in the last quarter. Hedge funds and other institutional investors own 68.94% of the company’s stock.
Wall Street Analyst Weigh In
JPM has been the topic of several research reports. Credit Suisse Group increased their price target on shares of JPMorgan Chase & Co. from $160.00 to $170.00 in a research report on Monday, July 17th. Oppenheimer reduced 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 report on Friday, August 18th. HSBC initiated coverage on shares of JPMorgan Chase & Co. in a report on Thursday, September 7th. They issued a “hold” rating and a $159.00 target price on the stock. StockNews.com initiated coverage on shares of JPMorgan Chase & Co. in a report on Thursday, August 17th. They issued a “hold” rating on the stock. Finally, Societe Generale cut shares of JPMorgan Chase & Co. from a “buy” rating to a “hold” rating in a report on Monday, July 10th. Eight investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, JPMorgan Chase & Co. presently has an average rating of “Moderate Buy” and an average price target of $167.21.
JPMorgan Chase & Co. Price Performance
JPMorgan Chase & Co. stock opened at $145.73 on Friday. JPMorgan Chase & Co. has a one year low of $101.28 and a one year high of $159.38. 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 business has a fifty day moving average of $150.87 and a two-hundred day moving average of $141.78. The company has a market cap of $423.50 billion, a P/E ratio of 9.38, a price-to-earnings-growth ratio of 1.89 and a beta of 1.11.
JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last released its earnings results on Friday, July 14th. The financial services provider reported $4.37 EPS for the quarter, beating analysts’ consensus estimates of $3.62 by $0.75. JPMorgan Chase & Co. had a return on equity of 17.29% and a net margin of 23.45%. The company had revenue of $42.40 billion during the quarter, compared to the consensus estimate of $38.66 billion. During the same quarter last year, the company earned $2.76 earnings per share. JPMorgan Chase & Co.’s quarterly revenue was up 34.1% compared to the same quarter last year. As a group, analysts predict that JPMorgan Chase & Co. will post 15.57 earnings per share for the current fiscal year.
JPMorgan Chase & Co. Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, October 6th will be paid a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a dividend yield of 2.88%. The ex-dividend date is Thursday, October 5th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.00. JPMorgan Chase & Co.’s payout ratio is 25.74%.
Insider Transactions at JPMorgan Chase & Co.
In other news, General Counsel Stacey Friedman sold 4,310 shares of JPMorgan Chase & Co. stock in a transaction on Wednesday, September 6th. The stock was 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 owns 53,425 shares of the company’s stock, valued at approximately $7,739,145.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.79% of the company’s stock.
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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