Capital Directions Investment Advisors LLC raised its stake in JPMorgan Chase & Co. (NYSE:JPM) by 27.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 392 shares of the financial services provider’s stock after acquiring an additional 85 shares during the quarter. Capital Directions Investment Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $61,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently bought and sold shares of JPM. Adams Chetwood Wealth Management LLC lifted its holdings in JPMorgan Chase & Co. by 1.7% in the first quarter. Adams Chetwood Wealth Management LLC now owns 3,803 shares of the financial services provider’s stock valued at $579,000 after acquiring an additional 65 shares during the period. First PREMIER Bank lifted its holdings in JPMorgan Chase & Co. by 0.3% in the second quarter. First PREMIER Bank now owns 20,301 shares of the financial services provider’s stock valued at $3,157,000 after acquiring an additional 68 shares during the period. Breiter Capital Management Inc. lifted its holdings in JPMorgan Chase & Co. by 0.6% in the second quarter. Breiter Capital Management Inc. now owns 11,649 shares of the financial services provider’s stock valued at $1,812,000 after acquiring an additional 69 shares during the period. Verity Asset Management Inc. increased its position in JPMorgan Chase & Co. by 4.6% in the second quarter. Verity Asset Management Inc. now owns 1,562 shares of the financial services provider’s stock worth $243,000 after buying an additional 69 shares in the last quarter. Finally, Element Wealth LLC increased its position in JPMorgan Chase & Co. by 1.4% in the second quarter. Element Wealth LLC now owns 5,195 shares of the financial services provider’s stock worth $808,000 after buying an additional 70 shares in the last quarter. Hedge funds and other institutional investors own 69.67% of the company’s stock.
JPM has been the subject of several research analyst reports. Barclays set a $187.00 target price on JPMorgan Chase & Co. in a research report on Wednesday, July 14th. Keefe, Bruyette & Woods started coverage on JPMorgan Chase & Co. in a research note on Wednesday, July 7th. They issued a “market perform” rating and a $167.00 price objective for the company. Royal Bank of Canada raised their price target on JPMorgan Chase & Co. from $160.00 to $175.00 and gave the stock an “outperform” rating in a research note on Thursday. Zacks Investment Research upgraded JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and set a $175.00 price target on the stock in a report on Tuesday, September 28th. Finally, Morgan Stanley boosted their target price on JPMorgan Chase & Co. from $150.00 to $166.00 and gave the stock an “underweight” rating in a research note on Thursday, July 29th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $170.18.
JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Tuesday, October 12th. The financial services provider reported $3.74 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.00 by $0.74. The business had revenue of $29.60 billion for the quarter, compared to analyst estimates of $29.63 billion. JPMorgan Chase & Co. had a net margin of 37.71% and a return on equity of 19.26%. The business’s quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.92 EPS. As a group, sell-side analysts anticipate that JPMorgan Chase & Co. will post 14.05 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Sunday, October 31st. Stockholders of record on Wednesday, October 6th will be paid a $1.00 dividend. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $0.90. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date of this dividend is Tuesday, October 5th. JPMorgan Chase & Co.’s dividend payout ratio is currently 45.05%.
About JPMorgan Chase & Co.
JPMorgan Chase & Co is a financial holding company. It provides financial and investment banking services. The firm offers a range of investment banking products and services in all capital markets, including advising on corporate strategy and structure, capital raising in equity and debt markets, risk management, market making in cash securities and derivative instruments, and brokerage and research.
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