Hayek Kallen Investment Management Grows Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Hayek Kallen Investment Management boosted its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 17.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,774 shares of the financial services provider’s stock after purchasing an additional 3,460 shares during the quarter. Hayek Kallen Investment Management’s holdings in JPMorgan Chase & Co. were worth $2,142,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of JPM. NuWave Investment Management LLC purchased a new position in shares of JPMorgan Chase & Co. in the 2nd quarter valued at about $30,000. Laidlaw Wealth Management LLC raised its holdings in shares of JPMorgan Chase & Co. by 20,306.8% in the 2nd quarter. Laidlaw Wealth Management LLC now owns 2,810,830 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 2,797,056 shares in the last quarter. Lion Street Advisors LLC acquired a new stake in shares of JPMorgan Chase & Co. in the 1st quarter valued at $37,000. FAI Wealth Management grew its stake in shares of JPMorgan Chase & Co. by 317.0% during the second quarter. FAI Wealth Management now owns 417 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 317 shares in the last quarter. Finally, Bay Harbor Wealth Management LLC raised its stake in JPMorgan Chase & Co. by 18.3% in the second quarter. Bay Harbor Wealth Management LLC now owns 692 shares of the financial services provider’s stock valued at $65,000 after buying an additional 107 shares in the last quarter. 69.35% of the stock is currently owned by institutional investors.

In other JPMorgan Chase & Co. news, CEO Mary E. Erdoes sold 24,554 shares of the stock in a transaction on Wednesday, July 15th. The stock was sold at an average price of $99.52, for a total value of $2,443,614.08. Corporate insiders own 0.78% of the company’s stock.

Shares of JPMorgan Chase & Co. stock traded up $0.42 on Wednesday, reaching $99.70. 19,263,820 shares of the stock were exchanged, compared to its average volume of 20,919,412. The firm has a market capitalization of $302.57 billion, a PE ratio of 13.57, a PEG ratio of 3.39 and a beta of 1.16. JPMorgan Chase & Co. has a 1-year low of $76.91 and a 1-year high of $141.10. The business has a fifty day moving average price of $100.06 and a two-hundred day moving average price of $97.29. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.35.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $1.38 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.34 by $0.04. JPMorgan Chase & Co. had a return on equity of 10.75% and a net margin of 18.16%. The company had revenue of $32.98 billion for the quarter, compared to analyst estimates of $30.23 billion. During the same quarter in the previous year, the company earned $2.82 EPS. The firm’s revenue for the quarter was up 14.7% compared to the same quarter last year. Research analysts expect that JPMorgan Chase & Co. will post 5.96 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Saturday, October 31st. Investors of record on Tuesday, October 6th will be paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.61%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 34.35%.

A number of research analysts have recently commented on JPM shares. Seaport Global Securities started coverage on JPMorgan Chase & Co. in a report on Wednesday, July 8th. They issued a “buy” rating and a $119.00 price objective on the stock. Atlantic Securities raised shares of JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating and set a $120.00 price objective on the stock in a report on Wednesday, July 22nd. Wells Fargo & Company boosted their price objective on shares of JPMorgan Chase & Co. from $115.00 to $130.00 in a research report on Friday, June 5th. Berenberg Bank increased their target price on shares of JPMorgan Chase & Co. from $77.00 to $80.00 and gave the company a “sell” rating in a research report on Monday, July 20th. Finally, Morgan Stanley reissued a “buy” rating and issued a $106.00 price target on shares of JPMorgan Chase & Co. in a research report on Monday, July 27th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have given a buy rating to the stock. JPMorgan Chase & Co. currently has an average rating of “Buy” and a consensus price target of $111.37.

JPMorgan Chase & Co. Company 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 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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