Gray Private Wealth LLC Invests $209,000 in JPMorgan Chase & Co. $JPM

Gray Private Wealth LLC acquired a new position in JPMorgan Chase & Co. (NYSE:JPM) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 721 shares of the financial services provider’s stock, valued at approximately $209,000.

Other large investors have also recently modified their holdings of the company. Florida Financial Advisors LLC increased its holdings in JPMorgan Chase & Co. by 62.5% during the 1st quarter. Florida Financial Advisors LLC now owns 9,863 shares of the financial services provider’s stock valued at $2,416,000 after purchasing an additional 3,792 shares during the period. Crown Wealth Group LLC increased its holdings in JPMorgan Chase & Co. by 5.4% during the 1st quarter. Crown Wealth Group LLC now owns 4,320 shares of the financial services provider’s stock valued at $1,060,000 after purchasing an additional 222 shares during the period. Mosaic Financial Group LLC increased its holdings in JPMorgan Chase & Co. by 0.8% during the 1st quarter. Mosaic Financial Group LLC now owns 9,296 shares of the financial services provider’s stock valued at $2,280,000 after purchasing an additional 78 shares during the period. Morse Asset Management Inc increased its holdings in JPMorgan Chase & Co. by 19.5% during the 1st quarter. Morse Asset Management Inc now owns 2,569 shares of the financial services provider’s stock valued at $630,000 after purchasing an additional 420 shares during the period. Finally, Hidden Cove Wealth Management LLC increased its holdings in JPMorgan Chase & Co. by 4.2% during the 1st quarter. Hidden Cove Wealth Management LLC now owns 2,758 shares of the financial services provider’s stock valued at $677,000 after purchasing an additional 112 shares during the period. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Up 0.4%

JPM stock opened at $305.35 on Friday. JPMorgan Chase & Co. has a fifty-two week low of $202.16 and a fifty-two week high of $318.01. The business’s 50 day moving average price is $301.37 and its two-hundred day moving average price is $276.26. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.88 and a current ratio of 0.88. The company has a market capitalization of $839.64 billion, a price-to-earnings ratio of 15.67, a price-to-earnings-growth ratio of 1.96 and a beta of 1.13.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, topping analysts’ consensus estimates of $4.48 by $0.48. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.The firm had revenue of $44.91 billion for the quarter, compared to analysts’ expectations of $43.76 billion. During the same period in the previous year, the firm posted $6.12 EPS. The business’s revenue for the quarter was down 10.5% compared to the same quarter last year. As a group, analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, October 6th will be given a $1.50 dividend. The ex-dividend date of this dividend is Monday, October 6th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.0%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. JPMorgan Chase & Co.’s payout ratio is presently 30.79%.

Insider Activity at JPMorgan Chase & Co.

In other news, Director Linda Bammann sold 9,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $297.94, for a total value of $2,830,430.00. Following the sale, the director directly owned 82,207 shares of the company’s stock, valued at $24,492,753.58. The trade was a 10.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.47% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on JPM. Bank of America boosted their price target on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the company a “buy” rating in a report on Wednesday, July 16th. Citigroup boosted their price target on JPMorgan Chase & Co. from $275.00 to $325.00 and gave the company a “neutral” rating in a report on Wednesday, September 24th. Robert W. Baird downgraded JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $235.00 price target on the stock. in a report on Friday, June 27th. Zacks Research downgraded JPMorgan Chase & Co. from a “strong-buy” rating to a “hold” rating in a report on Monday, September 8th. Finally, Baird R W downgraded JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a report on Friday, June 27th. Fourteen research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, JPMorgan Chase & Co. presently has a consensus rating of “Hold” and a consensus target price of $313.89.

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.