Foster Victor Wealth Advisors LLC Acquires 1,299 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Foster Victor Wealth Advisors LLC raised its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 33.3% during the third quarter, Holdings Channel reports. The fund owned 5,199 shares of the financial services provider’s stock after buying an additional 1,299 shares during the period. Foster Victor Wealth Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $595,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wharton Business Group LLC grew its holdings in shares of JPMorgan Chase & Co. by 0.3% in the second quarter. Wharton Business Group LLC now owns 86,951 shares of the financial services provider’s stock worth $9,721,000 after purchasing an additional 235 shares during the last quarter. New England Investment & Retirement Group Inc. grew its holdings in shares of JPMorgan Chase & Co. by 27.2% in the second quarter. New England Investment & Retirement Group Inc. now owns 6,695 shares of the financial services provider’s stock worth $748,000 after purchasing an additional 1,433 shares during the last quarter. Carillon Tower Advisers Inc. grew its holdings in shares of JPMorgan Chase & Co. by 4.7% in the second quarter. Carillon Tower Advisers Inc. now owns 300,522 shares of the financial services provider’s stock worth $33,598,000 after purchasing an additional 13,477 shares during the last quarter. BTR Capital Management Inc. grew its holdings in shares of JPMorgan Chase & Co. by 0.7% in the second quarter. BTR Capital Management Inc. now owns 164,688 shares of the financial services provider’s stock worth $18,412,000 after purchasing an additional 1,223 shares during the last quarter. Finally, Annex Advisory Services LLC grew its holdings in shares of JPMorgan Chase & Co. by 21.5% in the second quarter. Annex Advisory Services LLC now owns 27,273 shares of the financial services provider’s stock worth $3,050,000 after purchasing an additional 4,834 shares during the last quarter. Institutional investors and hedge funds own 71.89% of the company’s stock.

NYSE:JPM opened at $116.14 on Friday. The stock has a market cap of $360.13 billion, a P/E ratio of 11.78, a price-to-earnings-growth ratio of 1.63 and a beta of 1.20. The firm’s fifty day simple moving average is $114.14 and its 200 day simple moving average is $111.46. JPMorgan Chase & Co. has a twelve month low of $91.11 and a twelve month high of $120.40. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.22.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $2.82 earnings per share for the quarter, beating the consensus estimate of $2.50 by $0.32. The business had revenue of $28.83 billion for the quarter, compared to analysts’ expectations of $28.52 billion. JPMorgan Chase & Co. had a net margin of 24.73% and a return on equity of 14.40%. The firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.29 earnings per share. On average, analysts expect that JPMorgan Chase & Co. will post 9.89 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 4th will be issued a $0.90 dividend. The ex-dividend date of this dividend is Thursday, October 3rd. This represents a $3.60 annualized dividend and a yield of 3.10%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $0.80. JPMorgan Chase & Co.’s payout ratio is 40.00%.

Several research analysts have recently issued reports on JPM shares. Goldman Sachs Group restated a “neutral” rating and issued a $117.00 target price on shares of JPMorgan Chase & Co. in a report on Monday, July 22nd. Credit Suisse Group set a $135.00 target price on shares of JPMorgan Chase & Co. and gave the stock a “buy” rating in a report on Friday. Deutsche Bank restated a “neutral” rating on shares of JPMorgan Chase & Co. in a report on Friday, June 28th. Buckingham Research cut shares of JPMorgan Chase & Co. from a “buy” rating to a “neutral” rating and set a $122.00 target price on the stock. in a report on Monday, September 16th. They noted that the move was a valuation call. Finally, Wells Fargo & Co set a $125.00 target price on shares of JPMorgan Chase & Co. and gave the stock a “buy” rating in a report on Friday, August 16th. Twelve analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $122.59.

In other news, Director Mellody L. Hobson acquired 18,200 shares of the stock in a transaction on Thursday, August 8th. The stock was acquired at an average price of $109.91 per share, with a total value of $2,000,362.00. Following the completion of the transaction, the director now owns 7,804 shares of the company’s stock, valued at approximately $857,737.64. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Peter Scher sold 10,816 shares of the firm’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $115.00, for a total value of $1,243,840.00. The disclosure for this sale can be found here. Insiders own 0.76% of the company’s stock.

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.

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

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