McKinley Carter Wealth Services Inc. Increases Stock Position in JPMorgan Chase & Co. $JPM

McKinley Carter Wealth Services Inc. grew its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 3.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 26,884 shares of the financial services provider’s stock after buying an additional 951 shares during the period. McKinley Carter Wealth Services Inc.’s holdings in JPMorgan Chase & Co. were worth $7,794,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in JPM. Brighton Jones LLC boosted its position in JPMorgan Chase & Co. by 11.0% during the 4th quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider’s stock worth $11,682,000 after purchasing an additional 4,841 shares during the period. GAMMA Investing LLC boosted its position in JPMorgan Chase & Co. by 5.8% during the 1st quarter. GAMMA Investing LLC now owns 96,029 shares of the financial services provider’s stock worth $23,556,000 after purchasing an additional 5,296 shares during the period. Ironwood Wealth Management LLC. boosted its position in JPMorgan Chase & Co. by 0.7% during the 1st quarter. Ironwood Wealth Management LLC. now owns 15,400 shares of the financial services provider’s stock worth $3,778,000 after purchasing an additional 107 shares during the period. Acorns Advisers LLC boosted its position in JPMorgan Chase & Co. by 6.9% during the 1st quarter. Acorns Advisers LLC now owns 1,547 shares of the financial services provider’s stock worth $379,000 after purchasing an additional 100 shares during the period. Finally, Lion Street Advisors LLC boosted its position in JPMorgan Chase & Co. by 12.1% during the 1st quarter. Lion Street Advisors LLC now owns 7,542 shares of the financial services provider’s stock worth $1,850,000 after purchasing an additional 817 shares during the period. 71.55% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Zacks Research cut shares of JPMorgan Chase & Co. from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 8th. Cowen reiterated a “buy” rating on shares of JPMorgan Chase & Co. in a report on Wednesday, July 16th. Morgan Stanley boosted their price objective on shares of JPMorgan Chase & Co. from $336.00 to $338.00 and gave the stock an “equal weight” rating in a report on Wednesday. DZ Bank reiterated a “neutral” rating on shares of JPMorgan Chase & Co. in a report on Wednesday. Finally, Weiss Ratings reiterated a “buy (b+)” rating on shares of JPMorgan Chase & Co. in a report on Wednesday, October 8th. Fifteen research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $319.40.

Insider Activity

In other news, Director Linda Bammann sold 9,500 shares of the company’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 sale, the director owned 82,207 shares in the company, valued at approximately $24,492,753.58. This represents a 10.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.47% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

Shares of JPMorgan Chase & Co. stock opened at $297.81 on Friday. The firm has a market cap of $818.91 billion, a PE ratio of 14.75, a price-to-earnings-growth ratio of 1.80 and a beta of 1.13. The firm’s 50-day simple moving average is $302.82 and its 200-day simple moving average is $278.77. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.86. JPMorgan Chase & Co. has a 1 year low of $202.16 and a 1 year high of $318.01.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.83 by $0.24. The business had revenue of $46.43 billion for the quarter, compared to analyst estimates of $44.42 billion. JPMorgan Chase & Co. had a net margin of 20.90% and a return on equity of 17.18%. The company’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $4.37 EPS. Equities analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, October 6th will be paid a $1.50 dividend. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. The ex-dividend date is Monday, October 6th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.0%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 29.72%.

About JPMorgan Chase & Co.

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.