Edge Capital Group LLC Acquires 1,959 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Edge Capital Group LLC grew its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 2.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 97,839 shares of the financial services provider’s stock after acquiring an additional 1,959 shares during the quarter. JPMorgan Chase & Co. comprises 1.0% of Edge Capital Group LLC’s investment portfolio, making the stock its 29th largest position. Edge Capital Group LLC’s holdings in JPMorgan Chase & Co. were worth $19,789,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Gilbert & Cook Inc. lifted its stake in JPMorgan Chase & Co. by 1.5% during the fourth quarter. Gilbert & Cook Inc. now owns 11,360 shares of the financial services provider’s stock worth $1,932,000 after purchasing an additional 164 shares during the last quarter. Aveo Capital Partners LLC lifted its position in JPMorgan Chase & Co. by 13.0% in the 4th quarter. Aveo Capital Partners LLC now owns 5,151 shares of the financial services provider’s stock worth $876,000 after buying an additional 591 shares during the last quarter. Gryphon Financial Partners LLC lifted its position in JPMorgan Chase & Co. by 66.9% in the 4th quarter. Gryphon Financial Partners LLC now owns 25,004 shares of the financial services provider’s stock worth $4,238,000 after buying an additional 10,025 shares during the last quarter. Holistic Financial Partners boosted its stake in JPMorgan Chase & Co. by 5.5% in the fourth quarter. Holistic Financial Partners now owns 15,504 shares of the financial services provider’s stock worth $2,637,000 after buying an additional 811 shares in the last quarter. Finally, Fiduciary Trust Co grew its position in JPMorgan Chase & Co. by 0.5% during the fourth quarter. Fiduciary Trust Co now owns 293,301 shares of the financial services provider’s stock valued at $49,890,000 after acquiring an additional 1,397 shares during the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Down 0.6 %

Shares of JPMorgan Chase & Co. stock opened at $210.23 on Thursday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.24. JPMorgan Chase & Co. has a 12-month low of $135.19 and a 12-month high of $225.48. The company has a market cap of $598.14 billion, a P/E ratio of 11.73, a PEG ratio of 2.39 and a beta of 1.12. The company’s fifty day simple moving average is $211.60 and its two-hundred day simple moving average is $202.14.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Friday, July 12th. The financial services provider reported $6.12 earnings per share for the quarter, beating analysts’ consensus estimates of $4.19 by $1.93. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. The firm had revenue of $50.80 billion for the quarter, compared to analyst estimates of $42.23 billion. During the same quarter in the previous year, the firm posted $4.37 EPS. Research analysts anticipate that JPMorgan Chase & Co. will post 16.72 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 4th will be issued a dividend of $1.25 per share. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend is Friday, October 4th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.38%. JPMorgan Chase & Co.’s dividend payout ratio is 25.66%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on JPM. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $235.00 price objective on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. Barclays raised their price objective on JPMorgan Chase & Co. from $212.00 to $217.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Jefferies Financial Group boosted their target price on JPMorgan Chase & Co. from $230.00 to $239.00 and gave the company a “buy” rating in a research note on Wednesday, July 3rd. Oppenheimer raised their price target on JPMorgan Chase & Co. from $215.00 to $221.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. Finally, Wells Fargo & Company boosted their price objective on JPMorgan Chase & Co. from $220.00 to $225.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Eight equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $211.06.

About JPMorgan Chase & Co.

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.