Virtus Wealth Solutions LLC Lowers Stock Position in JPMorgan Chase & Co. $JPM

Virtus Wealth Solutions LLC reduced its stake in JPMorgan Chase & Co. (NYSE:JPM) by 1.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,243 shares of the financial services provider’s stock after selling 166 shares during the quarter. JPMorgan Chase & Co. comprises approximately 0.7% of Virtus Wealth Solutions LLC’s portfolio, making the stock its 24th biggest holding. Virtus Wealth Solutions LLC’s holdings in JPMorgan Chase & Co. were worth $3,549,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Brighton Jones LLC grew its position in JPMorgan Chase & Co. by 11.0% during the fourth quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider’s stock valued at $11,682,000 after acquiring an additional 4,841 shares during the last quarter. GAMMA Investing LLC grew its position in JPMorgan Chase & Co. by 5.8% during the first quarter. GAMMA Investing LLC now owns 96,029 shares of the financial services provider’s stock valued at $23,556,000 after acquiring an additional 5,296 shares during the last quarter. Ironwood Wealth Management LLC. grew its position in JPMorgan Chase & Co. by 0.7% during the first quarter. Ironwood Wealth Management LLC. now owns 15,400 shares of the financial services provider’s stock valued at $3,778,000 after acquiring an additional 107 shares during the last quarter. Acorns Advisers LLC grew its position in JPMorgan Chase & Co. by 6.9% during the first quarter. Acorns Advisers LLC now owns 1,547 shares of the financial services provider’s stock valued at $379,000 after acquiring an additional 100 shares during the last quarter. Finally, Centerpoint Advisory Group grew its position in JPMorgan Chase & Co. by 1.8% during the first quarter. Centerpoint Advisory Group now owns 7,786 shares of the financial services provider’s stock valued at $1,910,000 after acquiring an additional 137 shares during the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Stock Performance

NYSE:JPM opened at $300.27 on Friday. The stock has a market cap of $825.66 billion, a P/E ratio of 14.87, a price-to-earnings-growth ratio of 1.77 and a beta of 1.13. The firm’s fifty day simple moving average is $303.43 and its 200 day simple moving average is $281.11. JPMorgan Chase & Co. has a twelve month low of $202.16 and a twelve month high of $318.01. 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. (NYSE:JPM) last announced 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 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%.The company’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter last year, the firm posted $4.37 earnings per share. As a group, research analysts predict 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. Shareholders of record on Monday, October 6th will be given a dividend of $1.50 per share. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. This represents a $6.00 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Monday, October 6th. JPMorgan Chase & Co.’s payout ratio is 29.72%.

Analysts Set New Price Targets

A number of brokerages have commented on JPM. DZ Bank reiterated a “neutral” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, October 15th. Bank of America increased their price target on shares of JPMorgan Chase & Co. from $330.00 to $340.00 and gave the company a “buy” rating in a research report on Wednesday, July 16th. Wells Fargo & Company raised their target price on shares of JPMorgan Chase & Co. from $325.00 to $345.00 and gave the stock an “overweight” rating in a report on Tuesday, September 16th. Cowen restated a “buy” rating on shares of JPMorgan Chase & Co. in a report on Wednesday, July 16th. Finally, Weiss Ratings restated a “buy (b+)” rating on shares of JPMorgan Chase & Co. in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $322.27.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the completion of the transaction, the director owned 82,207 shares of the company’s stock, valued at approximately $24,492,753.58. This trade represents a 10.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate 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.