Financial Advocates Investment Management Has $3.94 Million Holdings in JPMorgan Chase & Co. $JPM

Financial Advocates Investment Management trimmed its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 29.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,604 shares of the financial services provider’s stock after selling 5,697 shares during the period. Financial Advocates Investment Management’s holdings in JPMorgan Chase & Co. were worth $3,944,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in JPM. Kingstone Capital Partners Texas LLC grew its holdings in JPMorgan Chase & Co. by 609,867.5% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 72,897,211 shares of the financial services provider’s stock worth $21,133,630,000 after acquiring an additional 72,885,260 shares during the last quarter. Laurel Wealth Advisors LLC grew its stake in shares of JPMorgan Chase & Co. by 28,813.7% during the second quarter. Laurel Wealth Advisors LLC now owns 16,785,584 shares of the financial services provider’s stock valued at $4,866,309,000 after purchasing an additional 16,727,530 shares during the last quarter. Nuveen LLC bought a new stake in shares of JPMorgan Chase & Co. during the first quarter valued at approximately $3,972,807,000. Montrusco Bolton Investments Inc. acquired a new stake in shares of JPMorgan Chase & Co. in the second quarter valued at approximately $485,802,000. Finally, International Assets Investment Management LLC bought a new position in JPMorgan Chase & Co. in the 2nd quarter worth approximately $458,104,000. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock opened at $307.84 on Wednesday. The stock has a market cap of $838.02 billion, a PE ratio of 15.25, a price-to-earnings-growth ratio of 1.84 and a beta of 1.14. The stock has a 50-day moving average of $306.73 and a 200-day moving average of $294.02. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.86 and a quick ratio of 0.88. JPMorgan Chase & Co. has a one year low of $202.16 and a one year high of $322.25.

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, beating analysts’ consensus estimates 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 firm had revenue of $47.12 billion during the quarter, compared to analysts’ expectations of $44.42 billion. During the same quarter in the previous year, the company earned $4.37 earnings per share. The business’s revenue for the quarter was up 8.8% on a year-over-year basis. As a group, sell-side analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Monday, October 6th were paid a dividend of $1.50 per share. 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 boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 29.72%.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, insider Robin Leopold sold 966 shares of the business’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $311.92, for a total value of $301,314.72. Following the completion of the transaction, the insider directly owned 58,479 shares of the company’s stock, valued at approximately $18,240,769.68. The trade was a 1.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.47% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on JPM. Wells Fargo & Company increased their price objective on JPMorgan Chase & Co. from $345.00 to $350.00 and gave the company an “overweight” rating in a research report on Monday, November 3rd. Royal Bank Of Canada reiterated a “buy” rating and issued a $343.00 price target on shares of JPMorgan Chase & Co. in a report on Tuesday, October 14th. Morgan Stanley lifted their price objective on JPMorgan Chase & Co. from $336.00 to $338.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 15th. Citigroup upped their target price on shares of JPMorgan Chase & Co. from $275.00 to $325.00 and gave the company a “neutral” rating in a research report on Wednesday, September 24th. Finally, KGI Securities lifted their price target on shares of JPMorgan Chase & Co. from $300.00 to $315.00 and gave the stock a “hold” rating in a research report on Wednesday, October 15th. Fifteen equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $326.38.

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.