PUREfi Wealth LLC Increases Stock Position in JPMorgan Chase & Co. $JPM

PUREfi Wealth LLC raised its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 13.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,472 shares of the financial services provider’s stock after purchasing an additional 638 shares during the quarter. JPMorgan Chase & Co. accounts for about 1.3% of PUREfi Wealth LLC’s holdings, making the stock its 14th biggest position. PUREfi Wealth LLC’s holdings in JPMorgan Chase & Co. were worth $1,586,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the business. LCM Capital Management Inc increased its holdings in JPMorgan Chase & Co. by 0.9% in the second quarter. LCM Capital Management Inc now owns 3,847 shares of the financial services provider’s stock valued at $1,115,000 after buying an additional 36 shares in the last quarter. jvl associates llc grew its position in shares of JPMorgan Chase & Co. by 1.7% in the second quarter. jvl associates llc now owns 2,094 shares of the financial services provider’s stock valued at $607,000 after purchasing an additional 36 shares during the last quarter. Lakeshore Financial Planning Inc. lifted its stake in JPMorgan Chase & Co. by 0.4% in the 2nd quarter. Lakeshore Financial Planning Inc. now owns 8,417 shares of the financial services provider’s stock valued at $2,441,000 after buying an additional 37 shares in the last quarter. Western Financial Corp CA lifted its stake in JPMorgan Chase & Co. by 1.5% in the 2nd quarter. Western Financial Corp CA now owns 2,642 shares of the financial services provider’s stock valued at $766,000 after buying an additional 38 shares in the last quarter. Finally, First Command Advisory Services Inc. lifted its stake in JPMorgan Chase & Co. by 0.4% in the 1st quarter. First Command Advisory Services Inc. now owns 9,306 shares of the financial services provider’s stock valued at $2,283,000 after buying an additional 40 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Trading Up 2.4%

JPM stock opened at $308.08 on Tuesday. The company has a market cap of $847.15 billion, a price-to-earnings ratio of 15.81, a PEG ratio of 1.94 and a beta of 1.13. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.25. The business has a fifty day simple moving average of $301.89 and a 200-day simple moving average of $277.44. JPMorgan Chase & Co. has a 52 week low of $202.16 and a 52 week high of $318.01.

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, topping analysts’ consensus estimates of $4.48 by $0.48. The business had revenue of $44.91 billion during the quarter, compared to the consensus estimate of $43.76 billion. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.The business’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same period in the prior year, the firm posted $6.12 EPS. On average, equities research analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, October 6th will be issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Monday, October 6th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. JPMorgan Chase & Co.’s payout ratio is currently 30.79%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on JPM. The Goldman Sachs Group upped their target price on JPMorgan Chase & Co. from $336.00 to $350.00 and gave the company a “buy” rating in a research note on Friday, October 3rd. Hsbc Global Res cut shares of JPMorgan Chase & Co. from a “hold” rating to a “moderate sell” rating in a research note on Tuesday, July 8th. Daiwa Capital Markets lifted their target price on shares of JPMorgan Chase & Co. from $330.00 to $332.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 8th. Morgan Stanley lifted their target price on shares of JPMorgan Chase & Co. from $298.00 to $336.00 and gave the stock an “equal weight” rating in a research note on Monday, September 29th. Finally, HSBC reaffirmed a “reduce” rating and issued a $259.00 target price on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 8th. Fifteen investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, JPMorgan Chase & Co. has a consensus rating of “Hold” and an average target price of $316.00.

Insider Activity at JPMorgan Chase & Co.

In related news, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the transaction, the director owned 82,207 shares in the company, valued at approximately $24,492,753.58. The trade was a 10.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.47% of the stock is currently owned by insiders.

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.