JPMorgan Chase & Co. $JPM Shares Purchased by Riverwater Partners LLC

Riverwater Partners LLC raised its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 12.2% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,202 shares of the financial services provider’s stock after purchasing an additional 239 shares during the quarter. Riverwater Partners LLC’s holdings in JPMorgan Chase & Co. were worth $638,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the stock. Envestnet Asset Management Inc. grew its position in shares of JPMorgan Chase & Co. by 2.9% during the second quarter. Envestnet Asset Management Inc. now owns 7,280,489 shares of the financial services provider’s stock worth $2,110,304,000 after buying an additional 202,787 shares in the last quarter. Chilton Capital Management LLC grew its position in shares of JPMorgan Chase & Co. by 7.9% during the second quarter. Chilton Capital Management LLC now owns 224,912 shares of the financial services provider’s stock worth $65,204,000 after buying an additional 16,550 shares in the last quarter. Resonant Capital Advisors LLC grew its holdings in JPMorgan Chase & Co. by 8.3% during the 2nd quarter. Resonant Capital Advisors LLC now owns 35,304 shares of the financial services provider’s stock worth $10,235,000 after acquiring an additional 2,718 shares in the last quarter. Wealthfront Advisers LLC grew its holdings in JPMorgan Chase & Co. by 10.5% during the 2nd quarter. Wealthfront Advisers LLC now owns 351,484 shares of the financial services provider’s stock worth $101,899,000 after acquiring an additional 33,493 shares in the last quarter. Finally, Atlatl Advisers LLC grew its holdings in JPMorgan Chase & Co. by 14.4% during the 2nd quarter. Atlatl Advisers LLC now owns 2,674 shares of the financial services provider’s stock worth $775,000 after acquiring an additional 337 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Royal Bank Of Canada reissued a “buy” rating and set a $343.00 price objective on shares of JPMorgan Chase & Co. in a report on Tuesday, October 14th. UBS Group lifted their price target on JPMorgan Chase & Co. from $339.00 to $350.00 and gave the stock a “buy” rating in a research note on Tuesday, October 7th. Daiwa Capital Markets lifted their target price on JPMorgan Chase & Co. from $330.00 to $332.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft lifted their target price on JPMorgan Chase & Co. from $300.00 to $320.00 and gave the stock a “hold” rating in a research report on Tuesday, September 30th. Finally, Dbs Bank upgraded JPMorgan Chase & Co. to a “hold” rating in a research report on Tuesday, October 21st. Two equities 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 given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $326.38.

Insiders Place Their Bets

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 value of $2,830,430.00. Following the completion of the sale, the director owned 82,207 shares of the company’s stock, valued at $24,492,753.58. This represents a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.47% of the stock is owned by insiders.

JPMorgan Chase & Co. Stock Performance

Shares of NYSE JPM opened at $311.85 on Thursday. The company has a current ratio of 0.86, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. The stock has a 50 day simple moving average of $305.66 and a 200-day simple moving average of $286.14. The company has a market cap of $857.51 billion, a PE ratio of 15.45, a P/E/G ratio of 1.84 and a beta of 1.13. JPMorgan Chase & Co. has a 12-month low of $202.16 and a 12-month high of $318.01.

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

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Monday, October 6th were given a dividend of $1.50 per share. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. The ex-dividend date was Monday, October 6th. This represents a $6.00 dividend on an annualized basis and a yield of 1.9%. 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.