Foster Victor Wealth Advisors LLC boosted its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 33.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. 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 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in JPM. Personal Wealth Partners bought a new stake in shares of JPMorgan Chase & Co. in the 2nd quarter worth $28,000. MRA Associates USA LLC bought a new stake in shares of JPMorgan Chase & Co. in the 2nd quarter worth $30,000. Global Trust Asset Management LLC grew its position in JPMorgan Chase & Co. by 2,027.2% during the second quarter. Global Trust Asset Management LLC now owns 5,318 shares of the financial services provider’s stock valued at $33,000 after buying an additional 5,068 shares during the period. Titan Capital Management LLC CA bought a new position in JPMorgan Chase & Co. during the second quarter valued at about $35,000. Finally, Redhawk Wealth Advisors Inc. bought a new position in JPMorgan Chase & Co. during the second quarter valued at about $56,000. Hedge funds and other institutional investors own 71.89% of the company’s stock.
Several equities analysts recently weighed in on JPM shares. Wells Fargo & Co set a $125.00 price target on shares of JPMorgan Chase & Co. and gave the company a “buy” rating in a research report on Friday, August 16th. Credit Suisse Group set a $135.00 price target on shares of JPMorgan Chase & Co. and gave the company a “buy” rating in a research report on Friday. ValuEngine upgraded shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research report on Wednesday, September 4th. UBS Group increased their price target on shares of JPMorgan Chase & Co. from $125.00 to $131.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Finally, Buckingham Research lowered shares of JPMorgan Chase & Co. from a “buy” rating to a “neutral” rating and set a $122.00 price target for the company. in a research report on Monday, September 16th. They noted that the move was a valuation call. Twelve analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $122.59.
In other JPMorgan Chase & Co. news, Director Mellody L. Hobson acquired 18,200 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were acquired at an average cost of $109.91 per share, with a total value of $2,000,362.00. Following the completion of the acquisition, the director now directly owns 7,804 shares in the company, valued at $857,737.64. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Lori A. Beer sold 13,341 shares of the company’s stock in a transaction dated 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 sale, the insider now directly owns 10,130 shares in the company, valued at $1,157,656.40. The disclosure for this sale can be found here. 0.76% of the stock is owned by corporate insiders.
JPM opened at $116.14 on Friday. The firm has a market cap of $360.13 billion, a P/E ratio of 11.78, a PEG ratio of 1.63 and a beta of 1.20. The firm has a 50-day moving average of $114.14 and a 200 day moving average of $111.46. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.97 and a current ratio of 0.97. JPMorgan Chase & Co. has a fifty-two week low of $91.11 and a fifty-two week high of $120.40.
JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $2.82 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.50 by $0.32. The business had revenue of $28.83 billion for the quarter, compared to the consensus estimate of $28.52 billion. JPMorgan Chase & Co. had a net margin of 24.73% and a return on equity of 14.40%. The company’s revenue was up 3.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.29 earnings per share. Equities research analysts predict that JPMorgan Chase & Co. will post 9.89 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 4th will be issued a dividend of $0.90 per share. The ex-dividend date is Thursday, October 3rd. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $0.80. This represents a $3.60 annualized dividend and a yield of 3.10%. JPMorgan Chase & Co.’s dividend payout ratio is 40.00%.
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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