Truvestments Capital LLC Increases Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Truvestments Capital LLC lifted its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 8.9% in the second quarter, according to its most recent filing with the SEC. The fund owned 2,288 shares of the financial services provider’s stock after acquiring an additional 187 shares during the period. Truvestments Capital LLC’s holdings in JPMorgan Chase & Co. were worth $333,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. JGP Wealth Management LLC lifted its holdings in shares of JPMorgan Chase & Co. by 0.7% in the 2nd quarter. JGP Wealth Management LLC now owns 102,085 shares of the financial services provider’s stock worth $14,847,000 after acquiring an additional 702 shares during the last quarter. Blume Capital Management Inc. lifted its stake in JPMorgan Chase & Co. by 1.0% in the second quarter. Blume Capital Management Inc. now owns 27,220 shares of the financial services provider’s stock worth $3,959,000 after purchasing an additional 258 shares during the last quarter. Quadrant Capital Group LLC lifted its stake in JPMorgan Chase & Co. by 0.8% in the second quarter. Quadrant Capital Group LLC now owns 41,769 shares of the financial services provider’s stock worth $6,075,000 after purchasing an additional 338 shares during the last quarter. HCR Wealth Advisors boosted its position in JPMorgan Chase & Co. by 9.5% during the second quarter. HCR Wealth Advisors now owns 24,674 shares of the financial services provider’s stock valued at $3,589,000 after buying an additional 2,134 shares during the period. Finally, McGowan Group Asset Management Inc. grew its stake in shares of JPMorgan Chase & Co. by 36.7% during the second quarter. McGowan Group Asset Management Inc. now owns 3,112 shares of the financial services provider’s stock valued at $453,000 after buying an additional 836 shares during the last quarter. Institutional investors own 68.94% of the company’s stock.

Insider Activity at JPMorgan Chase & Co.

In other news, General Counsel Stacey Friedman sold 4,310 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $144.86, for a total transaction of $624,346.60. Following the sale, the general counsel now owns 53,425 shares in the company, valued at $7,739,145.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.79% of the stock is owned by corporate insiders.

JPMorgan Chase & Co. Stock Up 0.3 %

JPM 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 has a 50 day moving average price of $145.23 and a 200-day moving average price of $145.34. JPMorgan Chase & Co. has a twelve month low of $123.11 and a twelve month high of $159.38. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.25.

JPMorgan Chase & Co. (NYSE:JPM) last announced its 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. The company had revenue of $40.69 billion during the quarter, compared to analyst estimates of $39.63 billion. JPMorgan Chase & Co. had a net margin of 22.79% and a return on equity of 17.97%. The firm’s quarterly revenue was up 24.4% compared to the same quarter last year. During the same period in the previous year, the business posted $3.12 earnings per share. Equities research 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 disclosed a quarterly dividend, which was paid on Tuesday, October 31st. Stockholders of record on Friday, October 6th were paid a $1.05 dividend. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.00. The ex-dividend date was Thursday, October 5th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 2.74%. JPMorgan Chase & Co.’s dividend payout ratio is 25.07%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on JPM shares. Oppenheimer increased their target price on JPMorgan Chase & Co. from $233.00 to $243.00 and gave the company an “outperform” rating in a report on Thursday, November 16th. BMO Capital Markets upped their price target on shares of JPMorgan Chase & Co. from $167.00 to $171.00 and gave the company a “market perform” rating in a report on Monday, October 16th. Morgan Stanley raised their price target on shares of JPMorgan Chase & Co. from $187.00 to $191.00 and gave the stock an “overweight” rating in a report on Monday, October 16th. StockNews.com began coverage on JPMorgan Chase & Co. in a research note on Thursday, October 5th. They set a “hold” rating on the stock. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $158.00 price objective on shares of JPMorgan Chase & Co. in a research report on Friday, September 8th. Nine research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $168.80.

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, 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.