Exchange Capital Management Inc. increased its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM – Free Report) by 4.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 38,302 shares of the financial services provider’s stock after acquiring an additional 1,803 shares during the quarter. Exchange Capital Management Inc.’s holdings in JPMorgan Chase & Co. were worth $5,571,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Keystone Wealth Services LLC lifted its position in shares of JPMorgan Chase & Co. by 1.6% during the second quarter. Keystone Wealth Services LLC now owns 4,129 shares of the financial services provider’s stock worth $601,000 after purchasing an additional 67 shares in the last quarter. Cornell Pochily Investment Advisors Inc. raised its holdings in JPMorgan Chase & Co. by 0.5% in the second quarter. Cornell Pochily Investment Advisors Inc. now owns 15,800 shares of the financial services provider’s stock valued at $2,298,000 after acquiring an additional 72 shares in the last quarter. Axim Planning & Wealth raised its holdings in JPMorgan Chase & Co. by 1.6% in the second quarter. Axim Planning & Wealth now owns 4,720 shares of the financial services provider’s stock valued at $686,000 after acquiring an additional 73 shares in the last quarter. Shikiar Asset Management Inc. raised its holdings in JPMorgan Chase & Co. by 3.7% in the second quarter. Shikiar Asset Management Inc. now owns 2,063 shares of the financial services provider’s stock valued at $300,000 after acquiring an additional 73 shares in the last quarter. Finally, Prostatis Group LLC raised its holdings in JPMorgan Chase & Co. by 0.9% in the first quarter. Prostatis Group LLC now owns 8,046 shares of the financial services provider’s stock valued at $1,059,000 after acquiring an additional 74 shares in the last quarter. 68.94% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several analysts recently issued reports on JPM shares. Morgan Stanley upped their price target on shares of JPMorgan Chase & Co. from $179.00 to $187.00 and gave the company an “overweight” rating in a report on Tuesday, October 3rd. 888 reaffirmed a “maintains” rating on shares of JPMorgan Chase & Co. in a report on Monday, June 26th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $158.00 price target on shares of JPMorgan Chase & Co. in a report on Friday, September 8th. Wolfe Research raised shares of JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $170.00 target price on the stock in a report on Friday, July 7th. Finally, StockNews.com started coverage on shares of JPMorgan Chase & Co. in a report on Thursday, October 5th. They set a “hold” rating on the stock. Eight investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, JPMorgan Chase & Co. currently has a consensus rating of “Moderate Buy” and an average price target of $168.47.
JPMorgan Chase & Co. Stock Down 0.2 %
JPMorgan Chase & Co. stock opened at $145.81 on Friday. The company has a 50-day simple moving average of $147.77 and a 200-day simple moving average of $143.19. The firm has a market capitalization of $423.74 billion, a P/E ratio of 9.38, a P/E/G ratio of 1.85 and a beta of 1.10. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.90 and a current ratio of 0.90. JPMorgan Chase & Co. has a one year low of $101.76 and a one year high of $159.38.
JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last released its quarterly earnings results on Friday, July 14th. The financial services provider reported $4.37 EPS for the quarter, topping the consensus estimate of $3.62 by $0.75. The business had revenue of $42.40 billion during the quarter, compared to analyst estimates of $38.66 billion. JPMorgan Chase & Co. had a net margin of 23.45% and a return on equity of 17.29%. The company’s quarterly revenue was up 34.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.76 earnings per share. As a group, equities analysts expect that JPMorgan Chase & Co. will post 15.68 earnings per share for the current year.
JPMorgan Chase & Co. Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, October 6th will be given a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date of this dividend is Thursday, October 5th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.00. JPMorgan Chase & Co.’s dividend payout ratio is currently 27.03%.
Insider Activity at JPMorgan Chase & Co.
In related news, General Counsel Stacey Friedman sold 4,310 shares of the stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $144.86, for a total value of $624,346.60. Following the completion of the transaction, the general counsel now owns 53,425 shares in the company, valued at approximately $7,739,145.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.79% of the stock is currently owned by insiders.
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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