JPMorgan Chase & Co. (NYSE:JPM) Shares Purchased by Solitude Financial Services

Solitude Financial Services boosted its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 127.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,959 shares of the financial services provider’s stock after buying an additional 3,894 shares during the quarter. JPMorgan Chase & Co. accounts for about 0.7% of Solitude Financial Services’ investment portfolio, making the stock its 14th largest position. Solitude Financial Services’ holdings in JPMorgan Chase & Co. were worth $1,408,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Oakworth Capital Inc. boosted its stake in shares of JPMorgan Chase & Co. by 2.4% during the 2nd quarter. Oakworth Capital Inc. now owns 205,176 shares of the financial services provider’s stock valued at $41,499,000 after buying an additional 4,803 shares during the period. Allen Wealth Management LLC boosted its stake in shares of JPMorgan Chase & Co. by 7.0% during the 2nd quarter. Allen Wealth Management LLC now owns 3,136 shares of the financial services provider’s stock valued at $634,000 after buying an additional 205 shares during the period. Meridian Financial Partners LLC boosted its stake in shares of JPMorgan Chase & Co. by 2.0% during the 2nd quarter. Meridian Financial Partners LLC now owns 9,968 shares of the financial services provider’s stock valued at $2,093,000 after buying an additional 192 shares during the period. Mason & Associates Inc boosted its stake in shares of JPMorgan Chase & Co. by 1.4% during the 2nd quarter. Mason & Associates Inc now owns 6,418 shares of the financial services provider’s stock valued at $1,298,000 after buying an additional 91 shares during the period. Finally, TCW Group Inc. boosted its stake in shares of JPMorgan Chase & Co. by 20.1% during the 2nd quarter. TCW Group Inc. now owns 575,166 shares of the financial services provider’s stock valued at $116,333,000 after buying an additional 96,215 shares during the period. Institutional investors and hedge funds own 71.55% of the company’s stock.

Insider Activity at JPMorgan Chase & Co.

In related news, insider Ashley Bacon sold 5,086 shares of the company’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $199.54, for a total value of $1,014,860.44. Following the sale, the insider now owns 212,265 shares of the company’s stock, valued at $42,355,358.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other JPMorgan Chase & Co. news, insider Ashley Bacon sold 5,086 shares of the business’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $199.54, for a total value of $1,014,860.44. Following the transaction, the insider now directly owns 212,265 shares in the company, valued at $42,355,358.10. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Lori A. Beer sold 5,298 shares of the business’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $200.64, for a total transaction of $1,062,990.72. Following the completion of the transaction, the insider now owns 46,375 shares in the company, valued at $9,304,680. The disclosure for this sale can be found here. Insiders have sold a total of 14,799 shares of company stock valued at $2,963,721 over the last quarter. 0.79% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Wolfe Research lowered shares of JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research note on Monday, July 8th. Robert W. Baird lifted their price objective on shares of JPMorgan Chase & Co. from $175.00 to $185.00 and gave the company a “neutral” rating in a research note on Tuesday, May 21st. Jefferies Financial Group lifted their price objective on shares of JPMorgan Chase & Co. from $230.00 to $239.00 and gave the company a “buy” rating in a research note on Wednesday, July 3rd. Barclays lifted their price objective on shares of JPMorgan Chase & Co. from $212.00 to $217.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Finally, Morgan Stanley lifted their price objective on shares of JPMorgan Chase & Co. from $221.00 to $226.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Eight investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $205.71.

JPMorgan Chase & Co. Stock Performance

Shares of NYSE:JPM traded up $2.42 on Friday, hitting $213.97. 7,931,234 shares of the company were exchanged, compared to its average volume of 9,221,095. The firm has a market capitalization of $614.45 billion, a price-to-earnings ratio of 11.93, a PEG ratio of 2.42 and a beta of 1.12. The company’s 50 day moving average price is $204.67 and its two-hundred day moving average price is $195.56. JPMorgan Chase & Co. has a one year low of $135.19 and a one year high of $217.56. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.92 and a current ratio of 0.91.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Friday, July 12th. The financial services provider reported $6.12 earnings per share for the quarter, beating analysts’ consensus estimates of $4.19 by $1.93. The business had revenue of $50.80 billion for the quarter, compared to analysts’ expectations of $42.23 billion. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. During the same quarter in the previous year, the firm posted $4.37 earnings per share. Research analysts expect that JPMorgan Chase & Co. will post 16.78 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Friday, July 5th were paid a $1.15 dividend. The ex-dividend date of this dividend was Friday, July 5th. This represents a $4.60 dividend on an annualized basis and a yield of 2.15%. JPMorgan Chase & Co.’s payout ratio is currently 25.66%.

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, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.