GM Advisory Group LLC Raises Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

GM Advisory Group LLC lifted its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.4% during the second quarter, HoldingsChannel.com reports. The fund owned 27,129 shares of the financial services provider’s stock after purchasing an additional 114 shares during the quarter. GM Advisory Group LLC’s holdings in JPMorgan Chase & Co. were worth $5,487,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Ieq Capital LLC boosted its stake in JPMorgan Chase & Co. by 6.6% during the 2nd quarter. Ieq Capital LLC now owns 270,246 shares of the financial services provider’s stock worth $54,660,000 after purchasing an additional 16,765 shares during the period. Brighton Jones LLC raised its holdings in shares of JPMorgan Chase & Co. by 11.7% in the second quarter. Brighton Jones LLC now owns 46,668 shares of the financial services provider’s stock valued at $9,439,000 after buying an additional 4,897 shares during the last quarter. Leuthold Group LLC acquired a new stake in shares of JPMorgan Chase & Co. during the second quarter worth about $6,100,000. UP Strategic Wealth Investment Advisors LLC grew its holdings in shares of JPMorgan Chase & Co. by 5.2% during the second quarter. UP Strategic Wealth Investment Advisors LLC now owns 3,545 shares of the financial services provider’s stock worth $717,000 after buying an additional 175 shares during the last quarter. Finally, XTX Topco Ltd acquired a new position in JPMorgan Chase & Co. in the 2nd quarter valued at about $981,000. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

JPM has been the subject of a number of recent research reports. Evercore ISI increased their price objective on JPMorgan Chase & Co. from $210.00 to $211.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. BMO Capital Markets increased their price target on JPMorgan Chase & Co. from $195.00 to $205.00 and gave the stock a “market perform” rating in a report on Thursday, July 11th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $235.00 price objective on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. StockNews.com upgraded shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research note on Saturday, July 13th. Finally, Citigroup lifted their target price on shares of JPMorgan Chase & Co. from $205.00 to $215.00 and gave the company a “neutral” rating in a report on Monday, July 15th. Eight research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $211.06.

JPMorgan Chase & Co. Stock Performance

JPM opened at $211.44 on Tuesday. JPMorgan Chase & Co. has a 1-year low of $135.19 and a 1-year high of $225.48. The stock has a market cap of $607.19 billion, a P/E ratio of 11.79, a P/E/G ratio of 2.33 and a beta of 1.12. The stock’s 50 day simple moving average is $211.64 and its 200 day simple moving average is $201.98. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.91 and a quick ratio of 0.91.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Friday, July 12th. The financial services provider reported $6.12 earnings per share for the quarter, beating the consensus estimate of $4.19 by $1.93. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. The company had revenue of $50.80 billion for the quarter, compared to analyst estimates of $42.23 billion. During the same quarter in the prior year, the company earned $4.37 earnings per share. As a group, equities analysts anticipate that JPMorgan Chase & Co. will post 16.78 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 4th will be given a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $5.00 dividend on an annualized basis and a yield of 2.36%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s payout ratio is presently 25.66%.

JPMorgan Chase & Co. Profile

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.