HBK Sorce Advisory LLC lowered its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 3.0% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 202,307 shares of the financial services provider’s stock after selling 6,313 shares during the period. JPMorgan Chase & Co. makes up approximately 2.1% of HBK Sorce Advisory LLC’s holdings, making the stock its 5th biggest position. HBK Sorce Advisory LLC’s holdings in JPMorgan Chase & Co. were worth $22,618,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Personal Wealth Partners bought a new position in shares of JPMorgan Chase & Co. in the 2nd quarter worth approximately $28,000. MRA Associates USA LLC bought a new position in shares of JPMorgan Chase & Co. in the 2nd quarter worth approximately $30,000. Global Trust Asset Management LLC lifted its stake in shares of JPMorgan Chase & Co. by 2,027.2% in the 2nd quarter. Global Trust Asset Management LLC now owns 5,318 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 5,068 shares during the period. Titan Capital Management LLC CA bought a new position in shares of JPMorgan Chase & Co. in the 2nd quarter worth approximately $35,000. Finally, Smart Portfolios LLC increased its holdings in JPMorgan Chase & Co. by 29.6% in the 4th quarter. Smart Portfolios LLC now owns 499 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 114 shares in the last quarter. Institutional investors and hedge funds own 71.89% of the company’s stock.
JPM traded down $0.48 during trading on Friday, reaching $118.90. 21,882,348 shares of the company traded hands, compared to its average volume of 10,786,178. 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 12-month low of $91.11 and a 12-month high of $120.40. The firm has a fifty day simple moving average of $111.24 and a 200 day simple moving average of $110.21. The company has a market cap of $381.72 billion, a P/E ratio of 13.21, a PEG ratio of 1.73 and a beta of 1.19.
JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $2.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.50 by $0.32. JPMorgan Chase & Co. had a net margin of 24.73% and a return on equity of 14.40%. The business had revenue of $28.83 billion during the quarter, compared to analyst estimates of $28.52 billion. During the same period last year, the firm posted $2.29 EPS. The company’s revenue was up 3.9% on a year-over-year basis. As a group, sell-side analysts expect that JPMorgan Chase & Co. will post 9.88 earnings per share for the current fiscal year.
The business 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. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $0.80. This represents a $3.60 dividend on an annualized basis and a yield of 3.03%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 35.56%.
In related news, Director Mellody L. Hobson acquired 18,200 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was acquired at an average cost of $109.91 per share, with a total value of $2,000,362.00. Following the acquisition, the director now directly owns 7,804 shares in the company, valued at approximately $857,737.64. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Peter Scher sold 10,816 shares of the stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $115.00, for a total transaction of $1,243,840.00. The disclosure for this sale can be found here. Company insiders own 0.76% of the company’s stock.
JPM has been the subject of several analyst reports. Morgan Stanley set a $122.00 target price on shares of JPMorgan Chase & Co. and gave the stock a “buy” rating in a report on Friday, August 9th. Wells Fargo & Co set a $125.00 target price on shares of JPMorgan Chase & Co. and gave the stock a “buy” rating in a report on Friday, August 16th. Buckingham Research lowered shares of JPMorgan Chase & Co. from a “buy” rating to a “neutral” rating and set a $122.00 target price for the company. in a report on Monday, September 16th. They noted that the move was a valuation call. DZ Bank reissued a “hold” rating on shares of JPMorgan Chase & Co. in a report on Wednesday, August 21st. Finally, Goldman Sachs Group reissued a “neutral” rating and issued a $117.00 target price on shares of JPMorgan Chase & Co. in a report on Monday, July 22nd. Thirteen equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $121.94.
JPMorgan Chase & Co. 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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