Commonwealth Financial Services LLC Acquires 83 Shares of JPMorgan Chase & Co. $JPM

Commonwealth Financial Services LLC raised its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 0.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 16,962 shares of the financial services provider’s stock after buying an additional 83 shares during the quarter. Commonwealth Financial Services LLC’s holdings in JPMorgan Chase & Co. were worth $4,917,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Valley Brook Capital Group Inc. grew its position in shares of JPMorgan Chase & Co. by 0.9% in the 2nd quarter. Valley Brook Capital Group Inc. now owns 17,395 shares of the financial services provider’s stock worth $5,043,000 after buying an additional 152 shares during the last quarter. Orca Investment Management LLC grew its position in shares of JPMorgan Chase & Co. by 1.3% in the 2nd quarter. Orca Investment Management LLC now owns 7,151 shares of the financial services provider’s stock worth $2,073,000 after buying an additional 90 shares during the last quarter. OFI Invest Asset Management grew its position in shares of JPMorgan Chase & Co. by 20.2% in the 2nd quarter. OFI Invest Asset Management now owns 442,101 shares of the financial services provider’s stock worth $128,170,000 after buying an additional 74,390 shares during the last quarter. Ackerman Capital Advisors LLC grew its position in shares of JPMorgan Chase & Co. by 2.1% in the 2nd quarter. Ackerman Capital Advisors LLC now owns 3,377 shares of the financial services provider’s stock worth $979,000 after buying an additional 71 shares during the last quarter. Finally, Franklin Parlapiano Turner & Welch LLC bought a new stake in shares of JPMorgan Chase & Co. in the 2nd quarter worth approximately $215,000. 71.55% of the stock is currently owned by institutional investors.

JPMorgan Chase & Co. Price Performance

JPM opened at $297.09 on Wednesday. The stock has a 50-day moving average price of $303.16 and a 200-day moving average price of $279.88. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.86 and a quick ratio of 0.88. The firm has a market cap of $816.92 billion, a PE ratio of 14.71, a P/E/G ratio of 1.83 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.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.83 by $0.24. The firm had revenue of $46.43 billion during the quarter, compared to analyst estimates of $44.42 billion. JPMorgan Chase & Co. had a return on equity of 17.18% and a net margin of 20.90%.JPMorgan Chase & Co.’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.37 EPS. Sell-side analysts predict 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 declared 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 represents a $6.00 annualized dividend and a dividend yield of 2.0%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. JPMorgan Chase & Co.’s payout ratio is presently 29.72%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Baird R W lowered JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research report on Friday, June 27th. Weiss Ratings reissued a “buy (b+)” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, October 8th. KGI Securities raised their price objective on JPMorgan Chase & Co. from $300.00 to $315.00 and gave the company a “hold” rating in a research report on Wednesday, October 15th. Bank of America raised their price objective on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the company a “buy” rating in a research report on Wednesday, July 16th. Finally, Keefe, Bruyette & Woods raised their price objective on JPMorgan Chase & Co. from $330.00 to $354.00 and gave the company an “outperform” rating in a research report on Friday, October 10th. Fifteen analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $322.86.

Insider Activity

In other news, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $297.94, for a total value of $2,830,430.00. Following the completion of the transaction, the director owned 82,207 shares of the company’s stock, valued at $24,492,753.58. The trade was a 10.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.47% of the stock is currently owned by corporate 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.