Prosperity Financial Group Inc. Has $2.11 Million Stock Holdings in JPMorgan Chase & Co. $JPM

Prosperity Financial Group Inc. raised its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 9.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,287 shares of the financial services provider’s stock after acquiring an additional 627 shares during the quarter. Prosperity Financial Group Inc.’s holdings in JPMorgan Chase & Co. were worth $2,112,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Harbor Asset Planning Inc. bought a new position in JPMorgan Chase & Co. in the 2nd quarter worth $26,000. MJT & Associates Financial Advisory Group Inc. bought a new position in JPMorgan Chase & Co. in the 1st quarter worth $28,000. University of Illinois Foundation bought a new position in JPMorgan Chase & Co. in the 1st quarter worth $30,000. Ryan Investment Management Inc. bought a new position in JPMorgan Chase & Co. in the 2nd quarter worth $37,000. Finally, Christopher J. Hasenberg Inc raised its holdings in JPMorgan Chase & Co. by 212.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 106 shares during the period. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

JPM has been the topic of several recent analyst reports. KGI Securities lifted their target price on shares of JPMorgan Chase & Co. from $300.00 to $315.00 and gave the stock a “hold” rating in a report on Wednesday, October 15th. HSBC reaffirmed a “reduce” rating and set a $259.00 target price on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 8th. Cowen reaffirmed a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, July 16th. Phillip Securities lowered shares of JPMorgan Chase & Co. from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, July 16th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of JPMorgan Chase & Co. from $330.00 to $354.00 and gave the stock an “outperform” rating in a research report on Friday, October 10th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, JPMorgan Chase & Co. has a consensus rating of “Moderate Buy” and a consensus price target of $322.27.

JPMorgan Chase & Co. Trading Up 0.7%

Shares of JPMorgan Chase & Co. stock opened at $311.47 on Friday. JPMorgan Chase & Co. has a 52-week low of $202.16 and a 52-week high of $318.01. 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 company’s fifty day moving average price is $304.92 and its two-hundred day moving average price is $284.48. The firm has a market capitalization of $856.48 billion, a PE ratio of 15.43, a price-to-earnings-growth ratio of 1.84 and a beta of 1.13.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results 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. 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 the consensus estimate of $44.42 billion. During the same quarter in the previous year, the company earned $4.37 EPS. The firm’s revenue for the quarter was up 8.8% compared to the same quarter last year. On average, analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Monday, October 6th were given a dividend of $1.50 per share. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. The ex-dividend date was Monday, October 6th. This represents a $6.00 annualized dividend and a yield of 1.9%. JPMorgan Chase & Co.’s dividend payout ratio is currently 29.72%.

Insider Transactions at JPMorgan Chase & Co.

In related 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 transaction of $2,830,430.00. Following the transaction, the director owned 82,207 shares in the company, valued at $24,492,753.58. This represents a 10.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.47% of the stock is currently owned by company insiders.

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.