Financial Counselors Inc. Buys 7,778 Shares of JPMorgan Chase & Co. (JPM)

Financial Counselors Inc. increased its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 2.4% in the second quarter, HoldingsChannel.com reports. The firm owned 330,318 shares of the financial services provider’s stock after buying an additional 7,778 shares during the quarter. JPMorgan Chase & Co. accounts for approximately 1.6% of Financial Counselors Inc.’s holdings, making the stock its 4th biggest holding. Financial Counselors Inc.’s holdings in JPMorgan Chase & Co. were worth $34,419,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Torch Wealth Management LLC lifted its holdings in JPMorgan Chase & Co. by 1.7% during the second quarter. Torch Wealth Management LLC now owns 27,374 shares of the financial services provider’s stock worth $2,852,000 after acquiring an additional 451 shares in the last quarter. Wells Trecaso Financial Group LLC lifted its holdings in JPMorgan Chase & Co. by 0.8% during the second quarter. Wells Trecaso Financial Group LLC now owns 59,884 shares of the financial services provider’s stock worth $6,240,000 after acquiring an additional 452 shares in the last quarter. SevenBridge Financial Group LLC lifted its holdings in JPMorgan Chase & Co. by 1.4% during the first quarter. SevenBridge Financial Group LLC now owns 32,749 shares of the financial services provider’s stock worth $3,517,000 after acquiring an additional 459 shares in the last quarter. Dixon Hubard Feinour & Brown Inc. VA lifted its holdings in JPMorgan Chase & Co. by 5.3% during the second quarter. Dixon Hubard Feinour & Brown Inc. VA now owns 9,078 shares of the financial services provider’s stock worth $946,000 after acquiring an additional 460 shares in the last quarter. Finally, Sunbelt Securities Inc. lifted its holdings in JPMorgan Chase & Co. by 3.4% during the first quarter. Sunbelt Securities Inc. now owns 13,919 shares of the financial services provider’s stock worth $1,531,000 after acquiring an additional 462 shares in the last quarter. 70.43% of the stock is owned by institutional investors and hedge funds.

In related news, Director Mellody L. Hobson bought 1,150 shares of the company’s stock in a transaction that occurred on Friday, October 19th. The shares were acquired at an average price of $108.94 per share, for a total transaction of $125,281.00. Following the completion of the acquisition, the director now owns 2,632 shares of the company’s stock, valued at approximately $286,730.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.73% of the company’s stock.

JPM has been the topic of a number of research reports. Keefe, Bruyette & Woods restated a “$111.53” rating and issued a $127.00 price target on shares of JPMorgan Chase & Co. in a report on Wednesday, July 18th. BMO Capital Markets boosted their price target on JPMorgan Chase & Co. from $110.00 to $118.00 and gave the company a “market perform” rating in a report on Monday, July 16th. Royal Bank of Canada restated a “buy” rating and issued a $120.00 price target on shares of JPMorgan Chase & Co. in a report on Monday, July 16th. Wolfe Research initiated coverage on JPMorgan Chase & Co. in a report on Tuesday, September 25th. They issued an “outperform” rating on the stock. Finally, Zacks Investment Research lowered JPMorgan Chase & Co. from a “buy” rating to a “hold” rating in a report on Monday, September 17th. Eight investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. JPMorgan Chase & Co. currently has a consensus rating of “Buy” and an average target price of $123.44.

JPM opened at $112.38 on Friday. JPMorgan Chase & Co. has a 52-week low of $95.95 and a 52-week high of $119.33. The stock has a market cap of $376.14 billion, a P/E ratio of 16.36, a P/E/G ratio of 1.77 and a beta of 1.13. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.01 and a current ratio of 1.01.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Friday, October 12th. The financial services provider reported $2.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.24 by $0.10. JPMorgan Chase & Co. had a return on equity of 13.90% and a net margin of 23.39%. The business had revenue of $27.26 billion for the quarter, compared to analyst estimates of $27.20 billion. During the same quarter in the prior year, the company posted $1.76 earnings per share. Equities research analysts predict that JPMorgan Chase & Co. will post 9.26 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 31st. Investors of record on Friday, October 5th were issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 2.85%. The ex-dividend date of this dividend was Thursday, October 4th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $0.56. JPMorgan Chase & Co.’s dividend payout ratio is presently 46.58%.

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About JPMorgan Chase & Co.

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking, and Asset & Wealth Management. The Consumer & Community Banking segment offers deposit and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; residential mortgages and home equity loans; and credit cards, payment processing services, auto loans and leases.

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Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

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