SlateStone Wealth LLC boosted its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 10.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 39,102 shares of the financial services provider’s stock after purchasing an additional 3,844 shares during the quarter. JPMorgan Chase & Co. accounts for about 0.8% of SlateStone Wealth LLC’s investment portfolio, making the stock its 28th biggest holding. SlateStone Wealth LLC’s holdings in JPMorgan Chase & Co. were worth $3,678,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of JPM. NuWave Investment Management LLC acquired a new position in JPMorgan Chase & Co. during the second quarter valued at approximately $30,000. Lion Street Advisors LLC bought a new position in JPMorgan Chase & Co. in the first quarter valued at approximately $37,000. Horan Securities Inc. bought a new position in JPMorgan Chase & Co. in the first quarter valued at approximately $45,000. Efficient Wealth Management LLC bought a new position in JPMorgan Chase & Co. in the first quarter valued at approximately $51,000. Finally, Larson Financial Group LLC lifted its stake in JPMorgan Chase & Co. by 217.6% in the first quarter. Larson Financial Group LLC now owns 597 shares of the financial services provider’s stock valued at $54,000 after buying an additional 409 shares in the last quarter. Hedge funds and other institutional investors own 71.35% of the company’s stock.
NYSE:JPM opened at $96.64 on Friday. JPMorgan Chase & Co. has a one year low of $76.91 and a one year high of $141.10. The company has a market cap of $295.62 billion, a P/E ratio of 13.04, a P/E/G ratio of 3.25 and a beta of 1.19. The firm’s fifty day moving average price is $96.77 and its two-hundred day moving average price is $105.48. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.88 and a quick ratio of 0.89.
JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $1.38 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.34 by $0.04. JPMorgan Chase & Co. had a net margin of 18.16% and a return on equity of 10.75%. The firm had revenue of $32.98 billion for the quarter, compared to the consensus estimate of $30.23 billion. During the same period in the previous year, the company earned $2.82 earnings per share. The company’s quarterly revenue was up 14.7% on a year-over-year basis. As a group, equities research analysts expect that JPMorgan Chase & Co. will post 5.96 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Monday, July 6th were issued a $0.90 dividend. The ex-dividend date was Thursday, July 2nd. This represents a $3.60 annualized dividend and a dividend yield of 3.73%. JPMorgan Chase & Co.’s dividend payout ratio is currently 34.35%.
In other JPMorgan Chase & Co. news, CEO Mary E. Erdoes sold 24,554 shares of the company’s stock in a transaction on Wednesday, July 15th. The shares were sold at an average price of $99.52, for a total value of $2,443,614.08. 0.78% of the stock is owned by insiders.
JPM has been the topic of a number of research reports. Oppenheimer reaffirmed a “hold” rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 14th. Seaport Global Securities initiated coverage on shares of JPMorgan Chase & Co. in a research note on Wednesday, July 8th. They issued a “buy” rating and a $119.00 price target on the stock. TheStreet lowered shares of JPMorgan Chase & Co. from a “b-” rating to a “c” rating in a research note on Monday, May 11th. Goldman Sachs Group raised shares of JPMorgan Chase & Co. from a “neutral” rating to a “buy” rating in a research note on Friday, July 24th. Finally, Berenberg Bank boosted their price objective on shares of JPMorgan Chase & Co. from $77.00 to $80.00 and gave the stock a “sell” rating in a research report on Monday, July 20th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and fifteen have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $110.89.
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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