Lake Street Financial LLC boosted its position in JPMorgan Chase & Co. (NYSE:JPM – Get Rating) by 1.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 53,641 shares of the financial services provider’s stock after purchasing an additional 767 shares during the quarter. JPMorgan Chase & Co. comprises about 1.3% of Lake Street Financial LLC’s portfolio, making the stock its 16th biggest holding. Lake Street Financial LLC’s holdings in JPMorgan Chase & Co. were worth $6,041,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in JPM. Dravo Bay LLC acquired a new position in JPMorgan Chase & Co. in the 1st quarter valued at $26,000. Advanced Research Investment Solutions LLC raised its holdings 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 valued at $39,000 after acquiring an additional 156 shares in the last quarter. Swaine & Leidel Wealth Services LLC acquired a new position in JPMorgan Chase & Co. in the 1st quarter valued at $44,000. Landmark Wealth Management LLC acquired a new position in shares of JPMorgan Chase & Co. during the 1st quarter worth $46,000. Finally, Cordant Inc. acquired a new position in shares of JPMorgan Chase & Co. during the 1st quarter worth $47,000. 68.57% of the stock is owned by institutional investors and hedge funds.
JPMorgan Chase & Co. Trading Down 2.9 %
NYSE JPM opened at $112.49 on Thursday. JPMorgan Chase & Co. has a 12 month low of $106.06 and a 12 month high of $172.96. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 1.14. The business’s 50-day moving average price is $116.03 and its two-hundred day moving average price is $122.29. The firm has a market capitalization of $329.89 billion, a PE ratio of 9.03, a price-to-earnings-growth ratio of 2.09 and a beta of 1.10.
JPMorgan Chase & Co. Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Thursday, October 6th will be given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 3.56%. JPMorgan Chase & Co.’s payout ratio is 32.10%.
Analysts Set New Price Targets
A number of research firms have recently commented on JPM. Morgan Stanley lowered their price target on JPMorgan Chase & Co. from $149.00 to $127.00 and set an “underweight” rating for the company in a report on Tuesday, July 12th. Barclays set a $200.00 price target on JPMorgan Chase & Co. in a report on Monday, July 18th. Credit Suisse Group set a $145.00 price target on JPMorgan Chase & Co. in a report on Monday, August 8th. Wells Fargo & Company lowered their price target on JPMorgan Chase & Co. from $120.00 to $118.00 and set an “equal weight” rating for the company in a report on Thursday, July 14th. Finally, Jefferies Financial Group set a $117.00 price target on JPMorgan Chase & Co. in a report on Monday, September 12th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $145.95.
About JPMorgan Chase & Co.
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.
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