Welch Group LLC Grows Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Welch Group LLC raised its stake in JPMorgan Chase & Co. (NYSE:JPM) by 3.7% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 19,412 shares of the financial services provider’s stock after buying an additional 700 shares during the period. Welch Group LLC’s holdings in JPMorgan Chase & Co. were worth $2,170,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Smart Portfolios LLC lifted its position in shares of JPMorgan Chase & Co. by 29.6% in the 4th quarter. Smart Portfolios LLC now owns 499 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 114 shares during the period. Semmax Financial Advisors Inc. purchased a new stake in shares of JPMorgan Chase & Co. in the 4th quarter worth approximately $56,000. Bogart Wealth LLC lifted its position in shares of JPMorgan Chase & Co. by 19.0% in the 4th quarter. Bogart Wealth LLC now owns 625 shares of the financial services provider’s stock worth $61,000 after purchasing an additional 100 shares during the period. D Orazio & Associates Inc. lifted its position in shares of JPMorgan Chase & Co. by 62.6% in the 4th quarter. D Orazio & Associates Inc. now owns 779 shares of the financial services provider’s stock worth $76,000 after purchasing an additional 300 shares during the period. Finally, QV Investors Inc. lifted its position in shares of JPMorgan Chase & Co. by 9.1% in the 4th quarter. QV Investors Inc. now owns 1,315 shares of the financial services provider’s stock worth $128,000 after purchasing an additional 110 shares during the period. 71.57% of the stock is owned by institutional investors.

Shares of NYSE JPM traded down $0.10 during trading hours on Wednesday, hitting $115.49. 4,822,993 shares of the stock were exchanged, compared to its average volume of 10,139,415. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.00 and a current ratio of 0.97. The firm has a market capitalization of $377.01 billion, a P/E ratio of 12.83, a PEG ratio of 1.67 and a beta of 1.16. The firm’s fifty day simple moving average is $112.69. JPMorgan Chase & Co. has a 12 month low of $91.11 and a 12 month high of $119.24.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $2.82 EPS for the quarter, topping the consensus estimate of $2.50 by $0.32. The firm had revenue of $28.83 billion during the quarter, compared to analyst estimates of $28.52 billion. JPMorgan Chase & Co. had a net margin of 24.73% and a return on equity of 14.41%. JPMorgan Chase & Co.’s revenue was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.29 EPS. Research analysts predict that JPMorgan Chase & Co. will post 9.92 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, July 5th will be paid a dividend of $0.80 per share. The ex-dividend date of this dividend is Wednesday, July 3rd. This represents a $3.20 annualized dividend and a dividend yield of 2.77%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 35.56%.

In other JPMorgan Chase & Co. news, insider Lori A. Beer sold 13,341 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $114.28, for a total transaction of $1,524,609.48. Following the transaction, the insider now owns 10,130 shares in the company, valued at approximately $1,157,656.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Peter Scher sold 10,816 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $115.00, for a total transaction of $1,243,840.00. The disclosure for this sale can be found here. Insiders own 0.76% of the company’s stock.

Several brokerages have recently weighed in on JPM. Credit Suisse Group upped their price target on shares of JPMorgan Chase & Co. from $128.00 to $132.00 and gave the stock an “outperform” rating in a research report on Monday, April 15th. Goldman Sachs Group cut shares of Cadence Bancorp from a “buy” rating to a “neutral” rating and set a $18.00 price target for the company. in a research report on Monday, July 22nd. Zacks Investment Research cut shares of Hess Midstream Partners from a “hold” rating to a “sell” rating in a research report on Tuesday, May 14th. HSBC reaffirmed a “hold” rating on shares of Societe Generale in a research report on Thursday, April 4th. Finally, BMO Capital Markets upped their price target on shares of Citigroup from $92.00 to $93.00 and gave the stock an “outperform” rating in a research report on Monday, April 15th. Eleven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $122.94.

About JPMorgan Chase & Co.

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 and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit card, payment processing, auto loan, and leasing services.

Read More: Outstanding Shares and The Effect on Share Price

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

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