Corundum Group Inc. Boosts Stake in JPMorgan Chase & Co. (NYSE:JPM)

Corundum Group Inc. raised its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 69.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 8,080 shares of the financial services provider’s stock after acquiring an additional 3,306 shares during the period. JPMorgan Chase & Co. accounts for about 1.0% of Corundum Group Inc.’s holdings, making the stock its 29th biggest position. Corundum Group Inc.’s holdings in JPMorgan Chase & Co. were worth $1,101,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Financial Strategies Group Inc. boosted its position in JPMorgan Chase & Co. by 20.0% during the 1st quarter. Financial Strategies Group Inc. now owns 5,500 shares of the financial services provider’s stock worth $750,000 after purchasing an additional 916 shares during the period. Alpha Omega Wealth Management LLC boosted its position in JPMorgan Chase & Co. by 1.5% in the 1st quarter. Alpha Omega Wealth Management LLC now owns 37,664 shares of the financial services provider’s stock valued at $5,134,000 after buying an additional 557 shares during the last quarter. Landmark Wealth Management LLC purchased a new position in JPMorgan Chase & Co. in the 1st quarter valued at about $46,000. HMS Capital Management LLC lifted its position in shares of JPMorgan Chase & Co. by 3.0% during the first quarter. HMS Capital Management LLC now owns 7,472 shares of the financial services provider’s stock worth $1,019,000 after purchasing an additional 217 shares during the last quarter. Finally, Viking Fund Management LLC lifted its position in shares of JPMorgan Chase & Co. by 17.6% during the first quarter. Viking Fund Management LLC now owns 63,500 shares of the financial services provider’s stock worth $8,656,000 after purchasing an additional 9,500 shares during the last quarter. 70.35% of the stock is currently owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Price Performance

Shares of JPM stock opened at $113.42 on Wednesday. JPMorgan Chase & Co. has a 52-week low of $106.06 and a 52-week high of $172.96. The stock has a market cap of $333.12 billion, a PE ratio of 9.10, a PEG ratio of 2.04 and a beta of 1.15. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.82 and a current ratio of 0.83. The firm’s 50 day moving average price is $118.60 and its two-hundred day moving average price is $131.94.

JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last announced its quarterly earnings results on Thursday, July 14th. The financial services provider reported $2.76 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.76. The company had revenue of $30.72 billion for the quarter, compared to analysts’ expectations of $31.82 billion. JPMorgan Chase & Co. had a net margin of 30.41% and a return on equity of 15.29%. The business’s quarterly revenue was up .8% compared to the same quarter last year. During the same period last year, the firm posted $3.78 earnings per share. As a group, analysts forecast that JPMorgan Chase & Co. will post 11.24 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, July 31st. Investors of record on Wednesday, July 6th will be given a $1.00 dividend. The ex-dividend date is Tuesday, July 5th. This represents a $4.00 annualized dividend and a yield of 3.53%. JPMorgan Chase & Co.’s dividend payout ratio is currently 32.10%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on JPM shares. BMO Capital Markets increased their price objective on shares of JPMorgan Chase & Co. from $150.00 to $156.00 in a research note on Tuesday, May 24th. Oppenheimer lowered their price objective on shares of JPMorgan Chase & Co. from $154.00 to $153.00 and set an “outperform” rating on the stock in a research note on Friday, July 15th. Societe Generale upgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and lifted their price target for the stock from $145.00 to $150.00 in a research report on Tuesday, May 24th. The Goldman Sachs Group set a $151.00 price target on shares of JPMorgan Chase & Co. and gave the stock a “buy” rating in a research report on Thursday, April 14th. Finally, Barclays set a $200.00 price target on shares of JPMorgan Chase & Co. in a research report on Monday, July 18th. One analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $145.95.

JPMorgan Chase & Co. Profile

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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 s deposit, investment and lending products, payments, 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, auto loan, and leasing services.