Envestnet Asset Management Inc. Buys 202,787 Shares of JPMorgan Chase & Co. $JPM

Envestnet Asset Management Inc. boosted its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 2.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,280,489 shares of the financial services provider’s stock after purchasing an additional 202,787 shares during the period. JPMorgan Chase & Co. comprises about 0.6% of Envestnet Asset Management Inc.’s investment portfolio, making the stock its 28th biggest position. Envestnet Asset Management Inc. owned 0.26% of JPMorgan Chase & Co. worth $2,110,304,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Harbor Asset Planning Inc. bought a new stake in shares of JPMorgan Chase & Co. during the second quarter valued at approximately $26,000. MJT & Associates Financial Advisory Group Inc. acquired a new stake in JPMorgan Chase & Co. in the first quarter worth about $28,000. University of Illinois Foundation bought a new stake in JPMorgan Chase & Co. during the 1st quarter worth about $30,000. Ryan Investment Management Inc. acquired a new position in JPMorgan Chase & Co. during the 2nd quarter valued at about $37,000. Finally, Christopher J. Hasenberg Inc boosted its stake in JPMorgan Chase & Co. by 212.0% in the second quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 106 shares during the last quarter. 71.55% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on JPM shares. DZ Bank restated a “neutral” rating on shares of JPMorgan Chase & Co. in a report on Wednesday, October 15th. Dbs Bank raised shares of JPMorgan Chase & Co. to a “hold” rating in a research report on Tuesday, October 21st. Daiwa Capital Markets increased their price objective on JPMorgan Chase & Co. from $330.00 to $332.00 and gave the company an “outperform” rating in a report on Wednesday, October 8th. Wolfe Research boosted their price target on JPMorgan Chase & Co. from $342.00 to $346.00 and gave the stock an “outperform” rating in a research report on Thursday, October 16th. Finally, Weiss Ratings upgraded shares of JPMorgan Chase & Co. from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Saturday, October 25th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $326.38.

JPMorgan Chase & Co. Stock Performance

NYSE JPM opened at $311.85 on Thursday. The firm’s 50 day simple moving average is $305.66 and its 200 day simple moving average is $286.14. The firm has a market capitalization of $857.51 billion, a price-to-earnings ratio of 15.45, a P/E/G ratio of 1.84 and a beta of 1.13. The company has a current ratio of 0.86, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. 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 released its earnings results 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 return on equity of 17.18% and a net margin of 20.90%.The firm had revenue of $46.43 billion during the quarter, compared to analysts’ expectations of $44.42 billion. During the same period in the prior year, the company earned $4.37 earnings per share. The company’s quarterly revenue was up 8.8% on a year-over-year basis. As a group, research analysts expect 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 disclosed a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Monday, October 6th were paid a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Monday, October 6th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. JPMorgan Chase & Co.’s payout ratio is currently 29.72%.

Insider Buying and Selling at JPMorgan Chase & Co.

In related news, Director Linda Bammann sold 9,500 shares of the business’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 sale, the director owned 82,207 shares in the company, valued at $24,492,753.58. The trade was a 10.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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.