Sovereign Financial Group Inc. Purchases 133 Shares of JPMorgan Chase & Co. $JPM

Sovereign Financial Group Inc. grew its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 2.0% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,812 shares of the financial services provider’s stock after buying an additional 133 shares during the quarter. Sovereign Financial Group Inc.’s holdings in JPMorgan Chase & Co. were worth $1,975,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. JFS Wealth Advisors LLC boosted its holdings in JPMorgan Chase & Co. by 0.4% in the second quarter. JFS Wealth Advisors LLC now owns 7,897 shares of the financial services provider’s stock valued at $2,290,000 after acquiring an additional 35 shares during the last quarter. LCM Capital Management Inc raised its holdings in JPMorgan Chase & Co. by 0.9% during the 2nd quarter. LCM Capital Management Inc now owns 3,847 shares of the financial services provider’s stock worth $1,115,000 after purchasing an additional 36 shares during the last quarter. jvl associates llc lifted its position in JPMorgan Chase & Co. by 1.7% during the 2nd 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 period. Lakeshore Financial Planning Inc. boosted its stake in shares of 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 purchasing an additional 37 shares during the last quarter. Finally, Western Financial Corp CA grew its position in shares of JPMorgan Chase & Co. by 1.5% during the 2nd quarter. Western Financial Corp CA now owns 2,642 shares of the financial services provider’s stock worth $766,000 after buying an additional 38 shares during the period. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Trading Down 1.7%

Shares of JPMorgan Chase & Co. stock opened at $297.09 on Wednesday. The stock has a market cap of $816.92 billion, a P/E ratio of 14.71, a P/E/G ratio of 1.83 and a beta of 1.13. The company has a quick ratio of 0.88, a current ratio of 0.86 and a debt-to-equity ratio of 1.26. JPMorgan Chase & Co. has a 12-month low of $202.16 and a 12-month high of $318.01. The business’s 50 day moving average is $303.16 and its 200-day moving average is $279.88.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share for the quarter, topping the consensus estimate of $4.83 by $0.24. JPMorgan Chase & Co. had a net margin of 20.90% and a return on equity of 17.18%. The company had revenue of $46.43 billion for the quarter, compared to analyst estimates of $44.42 billion. During the same period in the previous year, the business earned $4.37 EPS. JPMorgan Chase & Co.’s revenue for the quarter was up 8.8% compared to the same quarter last year. Equities research analysts predict 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 paid a dividend of $1.50 per share. The ex-dividend date is Monday, October 6th. This represents a $6.00 annualized dividend and a dividend yield of 2.0%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. JPMorgan Chase & Co.’s dividend payout ratio is presently 29.72%.

Analyst Ratings Changes

JPM has been the subject of several recent research reports. Baird R W cut shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research report on Friday, June 27th. TD Cowen upped their price objective on JPMorgan Chase & Co. from $350.00 to $370.00 and gave the company a “buy” rating in a report on Friday, October 3rd. Phillip Securities cut JPMorgan Chase & Co. from a “moderate buy” rating to a “hold” rating in a report on Wednesday, July 16th. Bank of America boosted their target price on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the stock a “buy” rating in a research report on Wednesday, July 16th. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $366.00 price target on shares of JPMorgan Chase & Co. in a research report on Tuesday, October 14th. Fifteen investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $322.86.

Insider Buying and Selling at JPMorgan Chase & Co.

In related news, Director Linda Bammann sold 9,500 shares of the stock in a transaction on 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.47% of the company’s stock.

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.