HCR Wealth Advisors Sells 215 Shares of JPMorgan Chase & Co. $JPM

HCR Wealth Advisors decreased its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,791 shares of the financial services provider’s stock after selling 215 shares during the quarter. JPMorgan Chase & Co. comprises approximately 1.0% of HCR Wealth Advisors’ investment portfolio, making the stock its 16th biggest holding. HCR Wealth Advisors’ holdings in JPMorgan Chase & Co. were worth $8,637,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of JPM. Kingstone Capital Partners Texas LLC lifted its stake in JPMorgan Chase & Co. by 609,867.5% in the second quarter. Kingstone Capital Partners Texas LLC now owns 72,897,211 shares of the financial services provider’s stock valued at $21,133,630,000 after buying an additional 72,885,260 shares in the last quarter. Nuveen LLC bought a new position in JPMorgan Chase & Co. in the first quarter valued at approximately $3,972,807,000. National Bank of Canada FI lifted its stake in JPMorgan Chase & Co. by 44.4% in the first quarter. National Bank of Canada FI now owns 4,518,740 shares of the financial services provider’s stock valued at $1,108,415,000 after buying an additional 1,388,992 shares in the last quarter. Strs Ohio bought a new position in JPMorgan Chase & Co. in the first quarter valued at approximately $279,389,000. Finally, Alecta Tjanstepension Omsesidigt bought a new position in JPMorgan Chase & Co. in the first quarter valued at approximately $278,493,000. Institutional investors own 71.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on JPM shares. HSBC reaffirmed a “reduce” rating and issued a $259.00 price target on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 8th. Evercore ISI lifted their price objective on shares of JPMorgan Chase & Co. from $309.00 to $330.00 and gave the company an “outperform” rating in a report on Tuesday, September 30th. Royal Bank Of Canada reiterated a “buy” rating on shares of JPMorgan Chase & Co. in a report on Thursday, September 11th. Citigroup lifted their price objective on shares of JPMorgan Chase & Co. from $275.00 to $325.00 and gave the company a “neutral” rating in a report on Wednesday, September 24th. Finally, Wells Fargo & Company lifted their price objective on shares of JPMorgan Chase & Co. from $325.00 to $345.00 and gave the company an “overweight” rating in a report on Tuesday, September 16th. Fifteen investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $307.70.

Insider Activity

In other news, Director Linda Bammann sold 9,500 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total value of $2,830,430.00. Following the completion of the sale, the director owned 82,207 shares of the company’s stock, valued at approximately $24,492,753.58. The trade was a 10.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.47% of the company’s stock.

JPMorgan Chase & Co. Price Performance

Shares of JPM opened at $309.89 on Monday. The company has a market cap of $852.11 billion, a price-to-earnings ratio of 15.90, a PEG ratio of 2.04 and a beta of 1.13. JPMorgan Chase & Co. has a 1-year low of $202.16 and a 1-year high of $318.01. The company’s fifty day simple moving average is $300.67 and its 200 day simple moving average is $274.97. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.25.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, beating the consensus estimate of $4.48 by $0.48. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The firm had revenue of $44.91 billion for the quarter, compared to the consensus estimate of $43.76 billion. During the same period in the previous year, the company earned $6.12 earnings per share. The company’s quarterly revenue was down 10.5% on a year-over-year basis. On average, research analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, October 6th will be given a $1.50 dividend. The ex-dividend date of this dividend is Monday, October 6th. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.9%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 28.73%.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.