Corrado Advisors LLC raised its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.1% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 19,487 shares of the financial services provider’s stock after acquiring an additional 217 shares during the quarter. JPMorgan Chase & Co. makes up 2.0% of Corrado Advisors LLC’s investment portfolio, making the stock its 10th largest position. Corrado Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $2,834,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in the company. Nordwand Advisors LLC purchased a new position in JPMorgan Chase & Co. during the first quarter worth about $30,000. Sageworth Trust Co grew its holdings in shares of JPMorgan Chase & Co. by 266.7% during the 1st quarter. Sageworth Trust Co now owns 407 shares of the financial services provider’s stock worth $53,000 after purchasing an additional 296 shares during the period. Robbins Farley increased its position in shares of JPMorgan Chase & Co. by 54.2% during the 1st quarter. Robbins Farley now owns 475 shares of the financial services provider’s stock worth $62,000 after purchasing an additional 167 shares during the last quarter. Miller Wealth Advisors LLC purchased a new position in JPMorgan Chase & Co. during the second quarter worth about $67,000. Finally, Guardian Wealth Advisors LLC acquired a new position in shares of JPMorgan Chase & Co. in the 1st quarter worth approximately $70,000. 68.94% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several equities analysts recently issued reports on the company. BMO Capital Markets increased their target price on JPMorgan Chase & Co. from $167.00 to $171.00 and gave the stock a “market perform” rating in a research note on Monday, October 16th. Royal Bank of Canada restated an “outperform” rating and set a $158.00 price target on shares of JPMorgan Chase & Co. in a report on Friday, September 8th. Atlantic Securities upped their target price on shares of JPMorgan Chase & Co. from $150.00 to $160.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 1st. Jefferies Financial Group reduced their target price on shares of JPMorgan Chase & Co. from $176.00 to $169.00 in a report on Tuesday, October 10th. Finally, Oppenheimer boosted their price target on shares of JPMorgan Chase & Co. from $233.00 to $243.00 and gave the stock an “outperform” rating in a report on Thursday, November 16th. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, JPMorgan Chase & Co. has a consensus rating of “Moderate Buy” and a consensus target price of $168.80.
Insiders Place Their Bets
In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 4,310 shares of the company’s stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $144.86, for a total transaction of $624,346.60. Following the transaction, the general counsel now directly owns 53,425 shares in the company, valued at $7,739,145.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.79% of the stock is currently owned by company insiders.
JPMorgan Chase & Co. Stock Performance
Shares of JPMorgan Chase & Co. stock opened at $153.29 on Tuesday. The stock has a market capitalization of $443.16 billion, a price-to-earnings ratio of 9.15, a PEG ratio of 1.80 and a beta of 1.12. The firm’s fifty day simple moving average is $145.23 and its 200-day simple moving average is $145.34. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.90 and a quick ratio of 0.90. JPMorgan Chase & Co. has a 12 month low of $123.11 and a 12 month high of $159.38.
JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last issued its quarterly earnings results on Friday, October 13th. The financial services provider reported $4.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.95 by $0.38. JPMorgan Chase & Co. had a return on equity of 17.97% and a net margin of 22.79%. The firm had revenue of $40.69 billion for the quarter, compared to analysts’ expectations of $39.63 billion. During the same quarter in the previous year, the firm posted $3.12 EPS. The firm’s revenue for the quarter was up 24.4% on a year-over-year basis. As a group, equities analysts forecast that JPMorgan Chase & Co. will post 16.67 earnings per share for the current year.
JPMorgan Chase & Co. Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 31st. Shareholders of record on Friday, October 6th were given a dividend of $1.05 per share. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend was Thursday, October 5th. This represents a $4.20 annualized dividend and a yield of 2.74%. JPMorgan Chase & Co.’s payout ratio is presently 25.07%.
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 to consumers and small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services.
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