SPC Financial Inc. Has $10.15 Million Stake in JPMorgan Chase & Co. $JPM

SPC Financial Inc. lowered its stake in JPMorgan Chase & Co. (NYSE:JPM) by 1.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 35,016 shares of the financial services provider’s stock after selling 677 shares during the period. SPC Financial Inc.’s holdings in JPMorgan Chase & Co. were worth $10,152,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. JFS Wealth Advisors LLC increased its holdings in shares of 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 purchasing an additional 35 shares in the last quarter. LCM Capital Management Inc increased its holdings in shares of 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 purchasing an additional 36 shares in the last quarter. jvl associates llc increased its holdings 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 in the last quarter. Lakeshore Financial Planning Inc. increased its holdings in shares of JPMorgan Chase & Co. by 0.4% in the second 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 in the last quarter. Finally, Western Financial Corp CA grew its holdings in 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 acquiring an additional 38 shares during the period. Institutional investors and hedge funds own 71.55% of the company’s stock.

Wall Street Analysts Forecast Growth

JPM has been the subject of a number of analyst reports. UBS Group lifted their target price on shares of JPMorgan Chase & Co. from $339.00 to $350.00 and gave the stock a “buy” rating in a report on Tuesday, October 7th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $366.00 target price on shares of JPMorgan Chase & Co. in a report on Tuesday, October 14th. Wolfe Research lifted their target price on shares of JPMorgan Chase & Co. from $342.00 to $346.00 and gave the stock an “outperform” rating in a report on Thursday, October 16th. Robert W. Baird lowered shares of JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $235.00 target price for the company. in a report on Friday, June 27th. Finally, DZ Bank reaffirmed a “neutral” rating on shares of JPMorgan Chase & Co. in a report on Wednesday, October 15th. Fifteen equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, JPMorgan Chase & Co. presently has a consensus rating of “Hold” and an average target price of $322.86.

Insider Buying and Selling

In related news, Director Linda Bammann sold 9,500 shares of the business’s stock in a transaction on 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 directly 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.47% of the company’s stock.

JPMorgan Chase & Co. Price Performance

Shares of JPM stock opened at $297.09 on Wednesday. JPMorgan Chase & Co. has a 12-month low of $202.16 and a 12-month high of $318.01. The firm has a market capitalization of $816.92 billion, a price-to-earnings ratio of 14.71, a price-to-earnings-growth 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. The firm has a fifty day moving average of $303.16 and a 200-day moving average of $279.88.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $5.07 EPS for the quarter, beating the consensus estimate of $4.83 by $0.24. The business had revenue of $46.43 billion for the quarter, compared to analysts’ expectations of $44.42 billion. JPMorgan Chase & Co. had a net margin of 20.90% and a return on equity of 17.18%. The firm’s revenue was up 8.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.37 EPS. On average, equities research analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors 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 yield of 2.0%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. JPMorgan Chase & Co.’s payout ratio is presently 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.