JPMorgan Chase & Co. (NYSE:JPM) Stock Position Lowered by Connecticut Wealth Management LLC

Connecticut Wealth Management LLC decreased its stake in JPMorgan Chase & Co. (NYSE:JPM) by 3.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,484 shares of the financial services provider’s stock after selling 477 shares during the quarter. Connecticut Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $1,518,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Dravo Bay LLC purchased a new stake in JPMorgan Chase & Co. in the 1st quarter worth approximately $26,000. Advanced Research Investment Solutions LLC lifted its position in JPMorgan Chase & Co. by 118.2% in the 1st quarter. Advanced Research Investment Solutions LLC now owns 288 shares of the financial services provider’s stock worth $39,000 after buying an additional 156 shares in the last quarter. Cordant Inc. purchased a new stake in JPMorgan Chase & Co. in the 1st quarter worth approximately $47,000. SFI Advisors LLC acquired a new position in shares of JPMorgan Chase & Co. during the 1st quarter worth $54,255,000. Finally, Delos Wealth Advisors LLC increased its stake in shares of JPMorgan Chase & Co. by 13,433.3% during the 4th quarter. Delos Wealth Advisors LLC now owns 406 shares of the financial services provider’s stock worth $64,000 after purchasing an additional 403 shares during the last quarter. Hedge funds and other institutional investors own 68.57% of the company’s stock.

Analyst Upgrades and Downgrades

JPM has been the topic of several analyst reports. UBS Group dropped their price target on shares of JPMorgan Chase & Co. from $134.00 to $126.00 and set a “buy” rating on the stock in a research note on Friday, July 15th. Berenberg Bank upgraded shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating and set a $120.00 price target on the stock in a research note on Monday, July 18th. Oppenheimer dropped their price target 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. Credit Suisse Group set a $145.00 price target on shares of JPMorgan Chase & Co. in a research note on Monday, August 8th. Finally, Jefferies Financial Group set a $117.00 price target on shares of JPMorgan Chase & Co. in a research note on Monday, September 12th. One analyst has rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. currently has a consensus rating of “Hold” and an average price target of $145.95.

JPMorgan Chase & Co. Stock Performance

NYSE JPM opened at $112.49 on Thursday. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.83 and a quick ratio of 0.83. The firm has a market capitalization of $329.89 billion, a price-to-earnings ratio of 9.03, a P/E/G ratio of 2.09 and a beta of 1.10. The company’s fifty day moving average is $116.03 and its two-hundred day moving average is $122.29. JPMorgan Chase & Co. has a 52-week low of $106.06 and a 52-week high of $172.96.

JPMorgan Chase & Co. (NYSE:JPMGet Rating) last posted its quarterly earnings results on Thursday, July 14th. The financial services provider reported $2.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.85 by ($0.09). The company had revenue of $30.72 billion during the quarter, compared to analyst estimates of $31.82 billion. JPMorgan Chase & Co. had a return on equity of 15.29% and a net margin of 30.41%. The business’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.78 earnings per share. Equities research analysts forecast that JPMorgan Chase & Co. will post 11.32 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Thursday, October 6th will be issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.56%. JPMorgan Chase & Co.’s payout ratio is 32.10%.

JPMorgan Chase & Co. Company 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.

See Also

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Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

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