Telos Capital Management Inc. raised its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 3.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 54,623 shares of the financial services provider’s stock after buying an additional 2,028 shares during the quarter. JPMorgan Chase & Co. comprises about 1.8% of Telos Capital Management Inc.’s investment portfolio, making the stock its 9th biggest position. Telos Capital Management Inc.’s holdings in JPMorgan Chase & Co. were worth $6,107,000 as of its most recent filing with the SEC.
A number of other large investors also recently made changes to their positions in JPM. Smart Portfolios LLC boosted its holdings in JPMorgan Chase & Co. by 29.6% in the fourth quarter. Smart Portfolios LLC now owns 499 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 114 shares during the last quarter. Semmax Financial Advisors Inc. acquired a new position in JPMorgan Chase & Co. in the fourth quarter valued at $56,000. Sound Income Strategies LLC boosted its holdings in JPMorgan Chase & Co. by 126.7% in the second quarter. Sound Income Strategies LLC now owns 510 shares of the financial services provider’s stock valued at $57,000 after acquiring an additional 285 shares during the last quarter. Asset Planning Services Ltd. acquired a new position in JPMorgan Chase & Co. in the second quarter valued at $61,000. Finally, Northstar Investment Advisors LLC raised its position in JPMorgan Chase & Co. by 3.3% in the second quarter. Northstar Investment Advisors LLC now owns 72,159 shares of the financial services provider’s stock valued at $67,000 after purchasing an additional 2,307 shares during the period. Hedge funds and other institutional investors own 71.57% of the company’s stock.
In other news, EVP Peter Scher sold 10,816 shares of JPMorgan Chase & Co. stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $115.00, for a total transaction of $1,243,840.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Lori A. Beer sold 13,341 shares of JPMorgan Chase & Co. stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $114.28, for a total value of $1,524,609.48. Following the sale, the insider now directly owns 10,130 shares in the company, valued at $1,157,656.40. The disclosure for this sale can be found here. 0.76% of the stock is currently owned by insiders.
Several research analysts have commented on JPM shares. Morgan Stanley raised their price objective on JPMorgan Chase & Co. from $124.00 to $130.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. BMO Capital Markets raised their price objective on JPMorgan Chase & Co. from $116.00 to $118.00 and gave the company a “market perform” rating in a research report on Monday, April 15th. Deutsche Bank reissued a “neutral” rating on shares of JPMorgan Chase & Co. in a research report on Friday, June 28th. Zacks Investment Research lowered JPMorgan Chase & Co. from a “buy” rating to a “hold” rating in a research report on Tuesday, May 14th. Finally, Goldman Sachs Group reissued a “neutral” rating and issued a $117.00 price objective on shares of JPMorgan Chase & Co. in a research report on Monday, July 22nd. Eleven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. JPMorgan Chase & Co. has an average rating of “Hold” and an average target price of $122.94.
NYSE:JPM traded down $0.01 during mid-day trading on Friday, hitting $112.93. The company had a trading volume of 11,024,017 shares, compared to its average volume of 10,896,389. The business has a fifty day simple moving average of $112.95. The company has a quick ratio of 1.00, a current ratio of 0.97 and a debt-to-equity ratio of 1.22. JPMorgan Chase & Co. has a 1 year low of $91.11 and a 1 year high of $119.24. The company has a market capitalization of $366.37 billion, a price-to-earnings ratio of 12.55, a price-to-earnings-growth ratio of 1.63 and a beta of 1.16.
JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Tuesday, July 16th. The financial services provider reported $2.82 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.50 by $0.32. JPMorgan Chase & Co. had a return on equity of 14.41% and a net margin of 24.73%. The business had revenue of $28.83 billion for the quarter, compared to analyst estimates of $28.52 billion. During the same period in the previous year, the company earned $2.29 earnings per share. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. As a group, sell-side analysts forecast that JPMorgan Chase & Co. will post 9.92 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Friday, July 5th were given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date of this dividend was Wednesday, July 3rd. JPMorgan Chase & Co.’s payout ratio is 35.56%.
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 and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit card, payment processing, auto loan, and leasing services.
Further Reading: Gross Domestic Product (GDP)
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